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Supervisors back MOHCD funding and acquisition for 203‑unit affordable project at 921 Howard Street
Summary
The Budget & Finance Committee recommended positive action to acquire 921 Howard and provide a loan (up to ~$39.1M) to support a 203‑unit affordable development led by TNDC, after extensive questions about long hold times, developer capacity, AMI mix and disposition of remaining parcel. The BLA recommended reporting back on Parcel B plans.
The committee voted Feb. 24 to forward to the full Board a resolution authorizing acquisition of Parcel A at 921 Howard Street ($13.7M) and a low‑interest MOHCD loan not to exceed $39.15M for construction of a 203‑unit affordable housing development to be developed by Tenderloin Neighborhood Development Corporation (TNDC) and Charmaine Curtis/ Curtis Development.
Jonathan Gagan of MOHCD described the project history (site control dating to 2007), the financing package…
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