Citywide Affordable Housing Loan Committee Meeting

On behalf of 936 Geary LP, the San Francisco Housing Development Corporation (SFHDC) and Novin Development Corporation (Novin/NDC) request up to $11,800,000 in permanent financing for 936 Geary, a 6-story, mixed-used building with 31 residential studios and 2 ground floor commercial spaces. The request comprises up to $4,400,000 in senior debt in the form of PASS funds (2016 GO Bonds series 2020C) and up to $7,400,000 in SSP residual receipts debt. The project, located in the Downtown/Civic Center area, was acquired in late 2021 and completed its rehabilitation using San Francisco Housing Accelerator Funds in November 2023. It is now requesting permanent financing from the City that will pay off the acquisition and rehabilitation loan.

San Francisco Housing Development Corporation and Novin Development Corporation