Citywide Affordable Housing Loan Committee Meeting

Related Companies of California and Mercy Housing California request final gap financing approval in the amount of up to $31,506,016 for the third Sunnydale HOPE SF affordable housing development known as Sunnydale HOPE SF Block 3B (“Project”), a proposed 90-unit affordable housing development within the Sunnydale Phase 1A3 Infrastructure footprint. The Project is located on the southwest corner of Sunnydale Avenue and Hahn Street in San Francisco’s Visitacion Valley neighborhood. It will include 90 units, 75% (67 units) of which will be set aside for current Sunnydale public housing residents through Project Based Vouchers (“PBVs”) from the San Francisco Housing Authority (“SFHA”). The total unit mix will be 4 studios, 24 one-bedrooms, 36 two-bedrooms, and 26 three-bedrooms. The public housing replacement units will be restricted to 40% and 50% MOHCD AMI and the remaining 22 lottery units will be restricted to 75-80% MOHCD AMI (60% TCAC AMI).

There will be roughly 4,155 square feet of community serving retail space along Sunnydale Avenue. This will provide local business opportunities through seven micro-retail spaces (approximately 400 sf each) and medium-sized enterprises (approximately 1,000 sf). There will also be a 26,500 sf underground parking garage shared with Sunnydale Block 3A that will accommodate a .75 parking ratio.

Related Companies of California and Mercy Housing California