Citywide Affordable Housing Loan Committee Meetings

John Stewart Company 967 Mission, LLC, and Bayview Hunters Point Multipurpose Senior Services 967 Mission LLC (sponsors), is requesting a final gap loan in the amount up to $44,318,000 for the construction of the 95 new affordable senior housing units located at 967 Mission and up to $10,548,907 for the senior operating subsidy grant. This request for gap financing will allow MHC to close on financial commitments to bring the project to construction closing and start of construction in January 2026.

John Stewart Company and Bayview Hunters Point Multipurpose Senior Services

Mercy Housing California requests approval of up to $2,600,000 in predevelopment financing, $5,600,000 in preliminary gap financing, $6,300,000 in PASS mortgage financing, and the recast of up to $3,230,987 in existing MOHCD loans for the rehabilitation of the Derek Silva (20 Franklin Street), a historic building with 70 residential units and five vacant commercial spaces. Supported by funding from the Housing Opportunities for Persons with AIDS (HOPWA) Program, the Derek Silva serves individuals living with HIV/AIDS and is the largest fully HOPWA building in San Francisco. The Project will apply for 9% tax credits in Round 2 of 2026 and is expected to begin rehabilitation in 2027. The rehabilitation will address serious seismic risk, the deterioration of major building systems, and other critical life safety issues, as well as support the relocation of community, service, and property management spaces to the ground floor to improve service delivery and increase safety for residents and providers.

Mercy Housing California