The San Francisco government meeting held on July 4, 2025, focused on the completion of a significant affordable housing project, highlighting the collaborative efforts of local contractors and the support from various city agencies.

The meeting began with an update on the construction status of the project, which includes multiple buildings. The speaker noted that the exterior work, common areas, and parking lot are nearly finished. Due to the project's size and scattered nature, it was awarded to two different contractors, Eddie and Noe Street, with local businesses AM1 Construction and Guzman Construction involved in the development.

The speaker expressed pride in the project, particularly the Eddy Street building, which reflects the city's Victorian architectural heritage. The project received substantial backing from the Housing Authority, with all units benefiting from project-based Section 8 voucher assistance. The land will remain under the Housing Authority's ownership, with a 99-year ground lease to Mission Housing.

Financial support for the project included a $22 million seller carryback loan and a residual receipts loan from the San Francisco Mayor's Office of Housing and Community Development. Additionally, the project utilized 4% low-income housing tax credits and tax-exempt bonds, making it the only project in San Francisco to receive such awards in 2021.

Looking ahead, the team is focused on closing out the project, with plans to pay off a short-term construction loan and achieve permanent conversion by October 2023. Currently, the buildings are at 92.5% occupancy, with five vacancies remaining. The speaker emphasized the importance of filling these vacancies before finalizing the project.

To celebrate the completion of construction, a ribbon-cutting ceremony is scheduled for August 31, 2025, at Noe Street, inviting community members to join in the celebration. The meeting concluded with expressions of gratitude for the collaborative efforts that made the project possible.