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Committee recommends financing for 14 multifamily rehab projects totaling hundreds of millions
Summary
The committee forwarded 14 issuance resolutions that together support conversion and rehabilitation of roughly 3,500 former public-housing units across nine supervisorial districts, with staff saying the package leverages over $700 million in construction resources and averages about $240,000 in rehab per unit in Phase 2.
The Budget & Finance Committee on Sept. 7 advanced 14 issuance resolutions to the full Board that authorize multifamily housing revenue notes to finance acquisition and rehabilitation of multiple rental projects across San Francisco. Lydia Ealy, senior project manager at the Mayor’s Office of Housing and Community Development (MOHCD), said the measures represent roughly three years of work to convert about 3,500 units from public housing to privately owned and refurbished units managed by nonprofit affordable-housing developers.
Ealy told the committee the issuance resolutions collectively represent "over $700,000,000 in construction resources" and that the projects will receive about "$500,000,000 in rehab" across the portfolio; she said the city will contribute about $100,000,000 across both phases. She described the work as addressing seismic and life-safety deficiencies (including sprinklers), roofs and windows, and unit upgrades.
During committee questions, MOHCD staff said Phase 2 averages approximately "$240,000 in rehab per unit" while Phase 1 averaged $150,000 per unit; staff also identified three family projects among the 14 (Alemany, Ping Yuen in Chinatown, and Westbrook in Bayview/Hunters Point) and 11 senior/disabled projects. A requested bedroom-count breakdown was not available at the hearing.
No members of the public spoke on Items 2–15 and Supervisor Katie Tang moved to forward the package with a positive recommendation; the motion was seconded and taken without objection. The full Board will consider the issuance resolutions at a later meeting.
