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Committee approves $47.4 million permanent loan for Hotel Diva (440 Geary) to preserve 122 units of supportive housing
Summary
The Homelessness and Behavioral Health Select Committee on Sept. 22 voted unanimously to forward a resolution approving a permanent loan of about $47.4 million to replace interim financing for the Hotel Diva Homekey conversion, which now provides 121 permanent supportive housing units and one manager unit at 440 Geary Street.
The Homelessness and Behavioral Health Select Committee voted Sept. 22 to forward to the full Board a resolution approving a permanent loan agreement of approximately $47.4 million to pay off interim financing for 440 Geary (the Hotel Diva), a Homekey conversion that provides 122 residential units.
Sophie Rubin, a project manager in the mayor's office of housing and community development (MOHCD), described the project history: the site was used as a shelter-in-place hotel during the COVID-19 emergency, the city and Episcopal Community Services (ECS) applied for Homekey funds in 2020, the Homekey award was granted,…
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