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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 on-site supportive services led by Community Housing Partnership with HealthRight 360 as a partner. The development includes 140 affordable studio units and a manager’s unit; tenants will be adults only and households with children will not be referred to this site.
Obstfeld described a modular construction approach in which much of the upper three stories will be factory-built in Vallejo and trucked to site for craning and assembly; the project is the agency’s first modular project and is intended to shorten construction time and reduce costs. OCII staff said the total development cost is approximately $81,500,000 (about $577,000 per unit) and that the OCII loan includes nearly $10.9 million available pre-close to cover prototype and manufacturer deposits. The OCII loan term was described as 55 years at 1.5% interest and is subject to conditions including SBE contracting goals, community outreach and loss‑of‑services funding commitments.
Neighbors had raised security concerns about housing formerly homeless residents; staff and developers said they had conducted outreach, shared tours of similar projects and would provide services intended to support tenant stability. Cahill was named as general contractor and staff said about 50% of contract values to date had been awarded to SBEs or SBE joint ventures.
A public caller, Oscar James, expressed support and urged local hiring and property-management training for neighborhood residents. Commissioners expressed broad support; Commissioner Scott moved approval and Commissioner Brackett seconded. The roll call recorded four ayes and the item passed.
