SAN FRANCISCO (CBS SF) -- San Francisco Mayor London Breed announced Tuesday that developers were breaking ground on a new housing project for the homeless in the Mission Bay district of the city.
Expected to be completed by late 2021, the development at Mission Bay Block 9 will provide housing for up to 140 adults lifting themselves out of homelessness.
"As San Francisco recovers from COVID-19, it is critical that we create and acquire new Permanent Supportive Housing so we have stable, secure homes for people in need," Breed said in a press release. "That's why we created our Homelessness Recovery Plan and why we funded projects like Block 9, which not only create new homes for formerly homeless residents, but also creates new construction jobs to help get our economy back on track."
The development, which the city designates as Permanent Supportive Housing (PSH), is part of Breed's Homelessness Recovery Plan. The plan intends to increase housing in the City's Homelessness Response System by making 6,000 placements available for those in need over the next two years.
"This housing project is not only going to give 140 people formerly experiencing homelessness a safe and stable place to call home, it's also going to enrich our Mission Bay community," San Francisco Supervisor Matt Haney said. "Mission Bay is a wonderful place to build a community that is for everyone in our city."
The area mapped for what the city calls the Mission Bay Project houses mostly warehouses and industrial facilities, but over the years it's become home to several mixed-use, transit-oriented developments. City officials expect the project to be completed over the next five to ten years, and it will produce 6,500 housing units, more than $700 million of new infrastructure, over $8 billion in private vertical development, and the creation of more than 30,000 permanent jobs.
Funds for Block 9 came from a $37.2 million investment from OCII, state and federal Low-Income Housing Tax Credit equity, and a loan from the Federal Home Loan Bank Affordable Housing program. The project itself will total $86.7 million.
"Right now, it's more important than ever for our most vulnerable neighbors to have a stable, affordable place to live," Cynthia Parker, President and CEO of BRIDGE Housing, said. "We're excited to see the building rise quickly with modular construction, and we're proud to partner on these new apartments that will end homelessness for many San Franciscans."
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