San Francisco approves $76M financing for Sunnydale Block 7 affordable housing project

San Francisco County officials have taken a significant step towards addressing the city's affordable housing crisis by approving a resolution to finance the construction of a new multifamily housing project at Sunnydale. The project, known as Sunnydale Hope SF Block 7, will provide 89 new rental units, with a focus on supporting families and former public housing residents.

During a recent government meeting, the board authorized the execution of a multifamily housing revenue note not to exceed $76 million. This funding will facilitate the construction of the new housing development, which is part of a broader initiative aimed at revitalizing the Sunnydale public housing site. The project is a key component of the HOPE SF initiative, established in 2005 to combat the impacts of systemic poverty and racism in some of San Francisco's most neglected neighborhoods.

Of the 89 units being developed, 67 will be designated as replacement housing for former public housing residents earning 50% of the San Francisco area median income. The remaining units will be available through a lottery system for families earning up to 70% of the area median income. The unit mix is designed to accommodate families, featuring a variety of sizes from one to four bedrooms.

The total development cost for Sunnydale Block 7 is estimated at $107 million, with funding sources including state housing programs and private loans. Construction is set to begin in the coming weeks, with an anticipated completion date in March 2027.

This project marks a crucial advancement in San Francisco's ongoing efforts to provide affordable housing solutions and improve living conditions for its residents. As the city continues to grapple with housing shortages, initiatives like Sunnydale Hope SF Block 7 are essential in creating sustainable and inclusive communities. The resolution will be presented to the full board for further consideration on July 1, 2025.