MAYOR LURIE AND COMMUNITY LEADERS CELEBRATE 145 NEW AFFORDABLE HOMES FOR SENIORS

MAYOR LURIE AND COMMUNITY LEADERS CELEBRATE 145 NEW AFFORDABLE HOMES FOR SENIORS  First Bay Area Housing Innovation Fund project delivered in a fraction of the time and cost of traditional affordable housing developments –  Click HERE for livestream footage. Livestream begins at 11:30 AM 6/2

SAN FRANCISCO — Today, Mercy Housing California, alongside the Housing Accelerator Fund (HAF), Mayor Daniel Lurie, and community partners, celebrated the grand opening of 1633 Valencia, a new affordable housing community providing 145 homes for formerly homeless seniors in San Francisco’s Mission District.

As the first development backed by the Bay Area Housing Innovation Fund, 1633 Valencia was built in just 19 months for approximately $525,000 per unit — half the cost of some affordable housing developments in San Francisco.

“Our city has not built enough housing, and the price has fallen to our seniors—people who spent decades contributing to this community and deserve stability, dignity, and care. Today, I’m proud to open 145 new supportive homes for San Francisco seniors,” said Mayor Daniel Lurie. “This space used to sit largely unused, and now it will be a site where people can age with dignity, build connections with their neighbors, and find the stability they need to thrive. We will continue building a system where housing comes with healthcare and where success is not just about whether someone has a place to sleep but about whether their life is actually getting better.”…

The Housing Accelerator Fund is committed to the preservation and expansion of quality affordable housing for economically disadvantaged individuals and families throughout the greater San Francisco Bay Area. An innovative nonprofit public-private partnership and certified Community Development Financial Institution (CDFI), HAF works with community-based organizations, local governments, and private and philanthropic institutions to provide powerful new financing tools that accelerate housing solutions for the Bay Area’s most vulnerable residents. This includes the newly launched Industrialized Construction Catalyst Fund as well as the Bay Area Housing Innovation Fund and other tailored financing products. Visit us at www.sfhaf.org...(more)