Citywide Affordable Housing Loan Committee Meeting

Related and Mercy are requesting additional gap loan financing in order to complete construction for Sunnydale Phase 1A3. The sponsor is requesting up to an additional $1,495,294 due to unprecedented weather delay in Winter 2023, unforeseen site conditions impacting the speed of delivery and increasing the scope of this infrastructure project, and previous and future relocation readiness costs.

Related California and Mercy Housing California

Michael Simmons Property Development (“MSPDI”), Curtis Development (“CD”) and Young Community Developers (“YCD”), jointly 350 China Basin Partners, LLC (“Sponsor”), request additional gap financing in the amount of $8,000,000 for a 148-unit affordable ownership housing development at 400 China Basin Street (the “Project”)

Michael Simmons Property Development, Curtis Development, and Young Community Developers