Citywide Affordable Housing Loan Committee Meetings

Mercy Housing California 111, L.P. requests a preliminary gap loan commitment in an amount not to exceed $44,222,000 in support of its application to the California Debt Limit Allocation Committee (“CDLAC”) for the Treasure Island Parcel E1.2–Senior Housing development (“E1.2-Senior”). E1.2-Senior is a proposed 100-unit new construction affordable housing development serving seniors. The project will include 6 transition replacement units for Treasure Island Legacy Households, 60 HUD Section 202 units with associated operating subsidy, and 33 units for formerly homeless seniors supported by the Local Operating Subsidy Program (“LOSP”). The request also includes a LOSP commitment for the 33 units serving formerly homeless seniors as part of the CDLAC application due May 19, 2026.

Mercy Housing California

The Sponsor is requesting a $23 million preliminary gap commitment from MOHCD to support a CDLAC/CTCAC bond and tax credit application. Freedom West Senior is a 115-unit new construction affordable senior housing project located at 880 McAllister Street in the Western Addition, serving low-income seniors with 114 PBVs. The Project leverages significant non-City funding but presents key risks related to relocation, construction timing, and reliance on elevated FMR assumptions. Staff seek Loan Committee approval of the preliminary gap commitment, along with identified waivers and conditions, to allow the Project to proceed to financing applications.

The John Stewart Company, Bayview Hunters Point Multipurpose Senior Services, and Freedom West Community Development Corporation

The Sponsor, Mercy Housing, requests preliminary approval for a $54,360,000 gap commitment in support of its CDLAC application for 1939 Market St. 1939 Market will be a LGBTQ inclusive 15-story development of 187 units. The development utilizes LOSP (40 units), VASH (55 units), SOS (75 units), AHOF (15 units), and PLUS services for 9 units. OpenHouse will provide services through onsite office and community space. Construction is estimated to commence in Jan 2027 and complete in early 2029.

Mercy Housing California and Open House

On behalf of Knox Partners Limited Partnership, Tenants and Owners Development Corporation (TODCO) requests up to $6,803,031 in General Funds over a 15-year contract from the Local Operating Subsidy Program (LOSP) to subsidize operations of 30 supportive housing units (out of 140 total units) for adults who have experienced homelessness and who are high-cost health users as defined by the State’s Housing for a Healthy California Program (HHC).

Knox Partners L.P.

Tenderloin Neighborhood Development Corporation (TNDC) requests to amend the existing MOHCD Loan Agreement and amend and restate the Notes for PASS and bridge loans for 125 Mason Apartments, an 81-unit affordable building located at 125 Mason Street, to start a substantial rehabilitation financed with 9% tax credits by June 30, 2026.

Tenderloin Neighborhood Development Corporation

The MOHCD Policy on Development Fees sets forth the maximum fees paid to developers of affordable housing projects funded by the City and County of San Francisco and was last updated in October 2020. MOHCD Staff is recommending the Committee approve the proposed revisions to the Policy on Development Fees, which are in line with industry standards and address increased costs in staffing affordable housing development projects in San Francisco.

Chinatown Community Development Center