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Mayor launches $50M San Francisco Housing Accelerator Fund to speed preservation and small-site purchases
Summary
Mayor Ed Lee and private and philanthropic partners launched a $50 million Housing Accelerator Fund to buy at-risk small properties and preserve affordable housing; the fund aims to accelerate acquisitions, preserve small sites, and deploy quick capital to protect residents.
Mayor Ed Lee and a consortium of banks, foundations and housing nonprofits announced the San Francisco Housing Accelerator Fund at the Planning Commission hearing.
The fund aims to leverage a $10 million city seed to attract private and philanthropic capital; organizers said the initial launch amount is $50 million with ambitions to grow to $100—100M and beyond. The fund will provide quick capital to acquire small sites and buildings at risk of speculative purchase, preserve existing affordable housing and accelerate…
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