Citywide Affordable Housing Loan Committee Meeting

Tenderloin Neighborhood Development Corporation (TNDC) and Young Community Developers (YCD) (together Sponsor) applied to the MOHCD Multisite Acquisition and Predevelopment Notice of Funding Availability (NOFA) for acquisition and predevelopment expenses related to developing 249 Pennsylvania Ave., currently a vacant lot in San Francisco’s Potrero Hill neighborhood. This request for financing is to take out the Corporation for Supportive Housing’s (CSH) acquisition loan in the amount of $11,964,119, as well as provide $1,035,881 for predevelopment expenses, for a total of $13,000,000. 249 Pennsylvania will create approximately 120 affordable units (60 studios, 30 2-bedrooms and 30 3-bedrooms), with 50% of units serving formerly homeless households supported by the City’s Local Operating Subsidy Program (LOSP). The remaining units will serve low-income families between 40% and 80% MOHCD AMI. No retail or commercial spaces are contemplated (Project) .

The borrower entity is Pennsylvania 249 Housing Associates LLC, which will acquire the parcel and own it during the interim use period.

Tenderloin Neighborhood Development Corporation and Young Community Developers

Tenderloin Neighborhood Development Corporation (TNDC) and Self-Help for the Elderly (SHE) request acquisition take-out and predevelopment financing in the amount of $24,000,000 in support of 1234 Great Highway, a new construction 216-unit (89 studios, 121 1-bedrooms and 6 2-bedrooms) affordable housing senior project, with 50% of units serving formerly homeless seniors supported by the City’s Local Operating Subsidy (LOSP), and 40% of units supported by the City’s Senior Operating Subsidy (SOS). The remaining units will serve low-income seniors between 50% and 60% MOHCD AMI. The ground floor will also include approximately 5,900 sf of commercial retail space at the corner of Great Highway and Lincoln, which is planned to be an Adult Day Health Care Center to be operated by SHE. The Acquisition Take-Out Loan would be made to 1234 Great Highway LLC, an affiliate of TNDC, in the amount of $23,348,500 to pay off a loan with San Francisco Housing Accelerator Fund (SFHAF) and the Predevelopment Loan would be made to a future Limited Partnership to pay off a predevelopment loan with HAF, and future predevelopment costs not exceeding the amount of $651,500. TNDC and SHE intend to shop for low-interest loans from community banking organizations in order to carry on predevelopment activities to construction closing without interruption or delay in the projected construction start of December 2026.

Tenderloin Neighborhood Development Corporation and Self-Help for the Elderly

Mission Housing Development Corporation requests $8,000,000 in predevelopment financing for 250 Laguna Honda Boulevard, a proposed 115-unit new construction affordable housing project for families. The project will include 29 units for families exiting homelessness, subsidized through the City's

Local Operating Subsidy Program ("LOSP”).

Mission Housing Development Corporation

Jonathan Rose Companies (JRC) and Young Community Developers (YCD) request $15,000,000 in predevelopment and acquisition funding through the 2023 Site Acquisition and Predevelopment Financing Notice of Funding Availability (NOFA). 650 Divisadero is a proposed new construction redevelopment of an existing commercial building into a 9 story, 95-unit residential family building. Of the proposed 95 units, 24 units will be set aside for families experiencing homelessness, supported by the City’s Local Operating Subsidy (LOSP). The remaining units will serve low-income households up to 80% MOHCD AMI, with an average affordability for the entire development not to exceed 60% MOHCD AMI. The proposed building will provide 25 studios, 17 one-bedrooms, 25 two-bedrooms, and 28 three-bedrooms.

Jonathan Rose Companies and Young Community Developers