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Committee advances Project Homekey plan to buy Granada Hotel and create 232 units of supportive housing
Summary
The committee recommended that the full Board accept up to $45 million in state Homekey funds to acquire and rehabilitate the 232‑unit Granada Hotel at 1000 Sutter Street as permanent supportive housing, with an aggressive timeline and a package of city and private bridge financing.
The Budget & Finance Committee voted to move to the full Board a resolution authorizing the city to accept and contract for up to $45 million in California Department of Housing and Community Development Project Homekey funds to acquire and rehabilitate the Granada Hotel at 1000 Sutter St. The plan would convert the 232‑unit SRO into permanent supportive housing, reserving roughly 80 currently occupied units for incumbent low‑income tenants and assigning about 152 units through the city's coordinated entry system.
Gigi Whitley of the Department of Homelessness and…
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