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San Francisco gets over $117M to build affordable housing

Residential homes in San Francisco. Photo: David Paul Morris/Bloomberg via Getty Images San Francisco recently received more than $117 million in funding from California's Department of Housing and Community Development to build three affordable housing projects. Why it matters: San Francisco is in the thick of a housing crisis, spurred at least in part by the other major U.S. metros when it comes to new housing construction. In August, the Department of Housing and Community Development launched a review into SF's housing policies "barriers to approval and construction of new housing." Details: The new projects will provide 290 affordable units for veterans, seniors, families and people with disabilities, per the mayor's office. The projects are located at: 4200 Geary Blvd., in the Inner Richmond; Sunnydale Avenue and Hahn Street in Visitacion Valley; and 234 Van Ness Ave., in Civic Center.Construction is expected to begin on all three in early 2023. What they're saying: Mayor London Breed in a statement called the new funding "an essential tool" to build more affordable housing in San Francisco and "get more people housed more quickly." The big picture: The city to meet its needs, which comes to about 10,000 units per year beginning in 2023.In the past few months, San Francisco has broken ground on a handful of affordable housing projects, including a and a .Last week, the city's Board of Supervisors to finance three more affordable housing projects in the Mission, Haight and Sunset districts. What's next: SF residents will vote in November on : Prop D, known as Affordable Homes Now, and Prop E, known as the Affordable Housing Production Act.Meanwhile, the Board of Supervisors will hold a hearing on Nov. 15 to discuss the city's updated housing plan. Get more local stories in your inbox with .Subscribe Support local journalism by becoming a member.

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