Aug 09Federal Home Loan Bank of San Francisco Announces Funding for Three Mercy Housing California Properties
The Federal Home Loan Bank of San Francisco recently announced the awards for the 2013 Affordable Housing Program (AHP) funding competition. Mercy Housing California proudly announces three properties in development as recipients of the competitive subsidy.
Sunset Lane, El Dorado, California–$390,000
Sunset Lane will construct much-needed affordable housing for low-income families and clients of the county’s Mental Health Services Act program. Located in an area that has experienced the fastest employment growth in the county over the past decade, this complex will provide an afterschool program for youth, computer education, and other resident social services. Sunset Lane Apartments will also have a large multipurpose room available to the public.
1100 Ocean, San Francisco, California–$700,000
This mixed-use project in the Ingleside district of San Francisco will consist of 70 affordable units for very low-income families, with 25 units for youth transitioning out of foster care. The ground floor of the project includes nearly 6,500 square feet of commercial space, as well as a community room and space for afterschool programs, offices for on-site services, an exercise room, and secure bicycle storage for the residents.
Washington Santee Phase 1, Los Angeles, California–$770,000
With the goal of spurring revitalization of the Washington Boulevard Corridor in Los Angeles, the first of four planned phases of affordable housing development within a two-block area will serve large low-income families. Sixteen units will be specifically for households with a child with special needs.
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