Citywide Affordable Housing Loan Committee Meeting

BRIDGE Housing Corporation requests additional funds in the amount of $1,764,223 to continue work related to the Potrero HOPE SF Master Plan. The request includes funding for two broad categories: ongoing community development work across the Potrero HOPE SF site and Master Plan predevelopment costs related to the next phase, Phase III, and future phases. Community development includes onsite and offsite relocation services, community stewardship, and resident community meetings provided by Bridge. The Master Plan work will be used to assess preliminary work needed to subphase the Annex (northern portion of the site) and architectural, civil engineering, legal, environmental and constructability needs assessment for future phases (Phases 4 and 5).

BRIDGE Housing Corporation

PY Bryant Street Housing, LP, formed by Mission Economic Development Agency, Young Community Developers, and Tabernacle Community Development Corporation (“MT-Y”), requests $3,000,000 in predevelopment financing for the Bryant Street Affordable Housing project (“Bryant Street”). Bryant Street will provide 96 units of affordable senior housing, including 56 studios, 40 one-bedrooms, and 1 manager's unit with 20% of the units set-aside for formerly homeless seniors supported by the City's Local Operating Subsidy Program, and 40% of the units will receive the City's Senior Operating Subsidy. All units will be at or below 60% of the MOHCD AMI. Bryant Street was part of a larger Request for Proposal (“RFP”) that was selected by the San Francisco Municipal Transportation Agency (“SFMTA”). The RFP was submitted by the Potrero Neighborhood Collective (“PNC”), which consists of Plenary Americas US Holdings Inc, the lead developer for the bus yard and workforce housing component, and MT-Y, responsible for developing the affordable housing component. Bryant Street will be a 5-story building sharing a basement with SFMTA. SFMTA's Potrero Bus Yard Modernization project replaces an obsolete bus yard and includes residential housing. The earliest possible date for Bryant Street to start construction is December 2025, with completion expected in July 2027.

Mission Economic Development Agency, Young Community Developers, and Tabernacle