SAN FRANCISCO, January 10, 2019—Mayor London N. Breed, Supervisor Rafael Mandelman and community leaders today rededicated 90 newly renovated affordable apartments for seniors and people with disabilities. The former public housing site at 25 Sanchez Street is one of 29 properties previously owned by the San Francisco Housing Authority that was renovated under the Rental Assistance Demonstration (RAD) program through the U.S. Department of Housing and Urban Development, which allows for a voluntary, permanent conversion of public housing to privately-owned, permanently affordable housing. The project is part of the City’s commitment to preserving and revitalizing 3,500 distressed public housing units across San Francisco. To date, more than 2,500 apartments have been renovated under the program.
“The continued rehabilitation of affordable housing in San Francisco has a huge impact on the lives of the people living there, and today 90 seniors and people with disabilities have a new, safe place to call home,” said Mayor Breed. “I grew up in public housing and I remember what those conditions were like. Seeing these residents return to their new homes is a testament to what we are accomplishing for vulnerable households across the City.”
The renovation of 25 Sanchez focused on improving the quality of life for residents and longevity of the building. Under the provisions of the RAD program, no residents were displaced, all residents moved back into their revitalized apartments, and all continue to pay 30% of their income for rent.
“Despite having one of the highest rates of evictions and displacement in the city, District 8 has seen very little creation of new affordable housing,” said Supervisor Mandelman. “The RAD Program allows us to rehabilitate our precious existing affordable housing stock and maintain our critical supply of affordable units while improving the lives of tenants in buildings like 25 Sanchez.”
“As we celebrate the 13th grand reopening of a RAD development, we are thrilled to see more former public housing transformed into beautiful, safe, and stable housing for the City’s most vulnerable tenants. It’s especially exciting for a property like 25 Sanchez in the Castro/Upper Market neighborhood that has such a great need for affordable housing,” said Kate Hartley, Director, Mayor’s Office of Housing and Community Development.
Co-developers BRIDGE Housing and Mission Economic Development Agency (MEDA) oversaw the extensive rehabilitation of residents’ apartments and community spaces. The primary scope of work included life safety and accessibility improvements, residential room renovations, voluntary structural upgrades, sprinkler system upgrades, replacement of original building systems and equipment, energy use reduction and improved elevator access. Revitalized amenities also include a community room and laundry room. The property has access to public transportation, with well-utilized bus and light-rail lines offering frequent service throughout San Francisco.
“25 Sanchez showcases the collaborative power when City officials, funders, stakeholders, partners, community members and the property’s residents themselves come together for a common purpose: the preservation of affordable housing so seniors and people with disabilities can age in place with dignity,” stated MEDA Chief Executive Officer Luis Granados.
“Affordable housing is a precious resource, and it’s essential for any city that strives to maintain diversity and inclusivity. We’re proud to be part of the public-private RAD partnership in San Francisco, which is preserving housing opportunities for the long term and improving the lives of some of our most vulnerable community members,” said Cynthia Parker, President and CEO of BRIDGE.
“Financing all 29 properties of SF RAD, the largest affordable housing renovation project in the nation, with $2.1 billion from Bank of America Merrill Lynch is no small feat, especially with the goal of not displacing vulnerable tenants like the seniors and disabled households at 25 Sanchez. The life-safety upgrades and modernization efforts to improve the quality of life for these residents helps fulfill Mayor Breed’s vision of providing safe and secure affordable housing, and makes us all proud to be part of such an important public-private effort,” said Liz Minick, San Francisco-East Bay Market executive at Bank of America, which provided a $22.8 million tax-exempt construction loan to make the project possible. “To help ease the transition during renovation periods for residents, an additional $2.8 million from Bank of America helps fund social services, wellness activities and other resources for SF RAD properties such as 25 Sanchez.”