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OCII approves $37.25M loan and ground lease for 141-unit Mission Bay supportive housing (Block 9)
Summary
The Commission authorized a ground lease and up to $37,245,760 in OCII financing for Mission Bay Block 9, a 141-unit affordable rental project serving formerly homeless adults. The building will use modular construction for upper stories and include supportive services administered by Community Housing Partnership and HealthRight 360.
The Commission on Community Investment and Infrastructure approved a ground lease and amended and restated loan agreement providing up to $37,245,760 to Mission Bay 9 LP to build a 141-unit affordable rental development at 410 China Basin Street (Mission Bay South Block 9) serving formerly homeless households.
Kim Obstfeld, OCII development specialist, said the project will largely serve formerly homeless adults referred through the Department of Homelessness and Supportive Housing’s coordinated entry program and will include…
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