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OCII approves ENA and $5M predevelopment loan for Mission Bay South Block 9 supportive housing
Summary
The commission approved an exclusive negotiations agreement and a predevelopment loan up to $5 million to Bridge Housing and Community Housing Partnership for Mission Bay South Block 9, a planned 141‑unit permanent supportive housing project for formerly homeless adults. The loan carries a 3% interest rate and will fund design, site studies and modular prototype costs.
The Commission on Community Investment and Infrastructure on Feb. 20 approved an exclusive negotiations agreement and a predevelopment loan not to exceed $5,000,000 to Mission Bay 9 LP, a development team led by Bridge Housing and Community Housing Partnership (CHP), to advance a 141‑unit permanent supportive housing project on Mission Bay South Block 9.
Kim Obstfeld, OCII development specialist, said the program includes 140 affordable studio units and one manager's unit to be referred via the Department of Homelessness and Supportive Housing’s coordinated entry system. The ENA is for an initial 24‑month term with…
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