Mayor Newsom Announces San Francisco Awarded $96 Million in Housing and Infrastructure Funds
July 16, 2009 – (RealEstateRama) — Mayor Gavin Newsom today announced that the California Department of Housing and Community Development has awarded over $96 million in funds to housing developments in San Francisco seeking to start construction. Awards were from two State programs created through the 2006 passage of Proposition 1C; the Transit Oriented Development and Infill Infrastructure Grant programs.
“This funding is a critical piece of San Francisco’s economic stimulus efforts—these developments will get people back to work quickly on projects that will make San Francisco a more environmentally and economically sustainable city,” said Mayor Newsom. “If not for this State support, these projects would be severely delayed or entirely abandoned.”
The purpose of both programs is to catalyze the development of environmentally sustainable, higher-density infill housing situated near existing transit, public services and amenities. Among the successful applicants is Hunters View, the City’s first mixed-income public housing development as part of its HOPE SF initiative to sustainably redevelop and preserve its remaining severely distressed public housing projects. The State gave Hunters View the maximum score possible for the Infill Infrastructure program, and awarded it $30 million, the maximum award possible.
After receiving only one award from either program in 2008, San Francisco succeeded in securing support for seven projects this year; two transit oriented development projects and five infill infrastructure projects. “These programs represent a terrific partnership opportunity for the City, State and private developers to both build significant new affordable housing and provide much needed economic stimulus,” said Doug Shoemaker, Director of the San Francisco Mayor’s Office of Housing.
The seven San Francisco developments represent a total of over $600 million of development activity within the City and over 1,200 units of housing. The seven San Francisco projects awarded were:
INFILL INFRASTRUCTURE
Hunters View: $30,000,000
333 Harrison: $11,559,000
5800 Third Street: $10,433,280
2235 Third Street: $7,378,080
178 Townsend Street: $3,561,360
TRANSIT ORIENTED DEVELOPMENT
Tenderloin YMCA – 220 Golden Gate Ave.: $17,000,000
1000 Fourth Street: $17,000,000
The timing of the delivery of these funds is dependent on the State’s fiscal situation, but the funds are expected to be available to projects as needed beginning this Fall.
