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Board approves ground lease and financing for 160 Freelon affordable housing project
Summary
The Board of Supervisors approved a 75‑year ground lease and related financing measures to support a 100% affordable rental project at 160 Freelon Street, including a $22.5 million loan and authorization for multifamily housing revenue notes and federal tax‑exempt mortgage revenue notes up to stated limits.
The San Francisco Board of Supervisors on May 20 adopted resolutions authorizing a long‑term ground lease and related financing steps for a 100% affordable rental housing project at 160 Freelon Street in San Francisco.
The board approved a ground lease between the city and 160 Freelon Housing Partners LP for city‑owned property at 160 Freelon Street, described in the agenda as a 75‑year lease with an option to extend. The project sponsor plans to construct an 84‑unit multifamily building affordable to low‑income households plus one manager’s unit.…
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