By Savannah Dewberry : 48hills – excerpt
So far, the Breed Administration has not taken advantage of a program that will close in September.
In 2023, San Francisco announced its goal of having 82,000 new homes built by 2031 in order to address affordability and overcrowding concerns. This would require the city to build 28 new units every day for the entire eight year span of the project.
The city’s goals include 46,000 units of affordable housing. But only 871 were built in 2023.
A new funding program developed by the US Department of Housing and Urban Development (HUD) could alleviate this issue—if the city takes advantage of it. Called Faircloth-to-RAD, the program debuted in 2021 with the first new affordable units being built in Galveston, Texas…
RAD is short for Rental Assistance Demonstration, a HUD program that launched during the Obama administration. It would allow public housing authorities to convert subsidized public housing units to Section 8 subsidies, and potentially attract private investors to help cover repairs. …
Supervisor Dean Preston’s chief of staff, Preston Kilgore, said in an interview that their office asked asked the Breed Administration to look into the RAD program back in 2022. However, it wasn’t until this month, when the Board of Supervisors unanimously passed a resolution calling on SFHA to release a call for interested developers, did SFHA and the Mayor’s Office of Housing and Community Developmen confirm that they plan to do a feasibility analysis of the program this year… (more)