SAN FRANCISCO—A newly completed affordable housing complex for seniors is being hailed as a prime example of environmentally sustainable design.
Located on the edge of San Francisco’s Tenderloin neighborhood, 990 Polk was co-developed by Citizens Housing Corp. and the Tenderloin Neighborhood Development Corp. The nonprofit developers were recognized for their efforts Dec. 2 by Enterprise Community Partners, a leading affordable housing organization.
Bank of America leaders were also on hand at the property to announce a three-year, $3.75 million national grant to Enterprise that will help support the group’s community development and green building initiatives in 12 cities.
“Enterprise is leading the effort to make communities sustainable economically and environmentally,” said Janet Lamkin, the bank’s California president.
990 Polk features 81 studio apartments and 29 one-bedroom apartments for low-income seniors. Fifty units are set aside for formerly homeless seniors and will be subsidized by the city.
The $36 million development was built using a number of green building techniques and products, including Energy Star appliances and low-VOC paints and adhesives. The complex, which is expected to be about 18 percent more energy efficient than building code requirements, even used fly-ash, a by-product of burning coal, in its concrete mix.
The new development features outdoor space on the eighth floor for residents to relax and garden, a large community room and kitchen, and an airy laundry room.
The building is the latest example to show how affordable housing developments are leading the way when it comes to sustainable practices.
AFFORDABLE HOUSING FINANCE was among the guests getting an early look at the development.
Mayor Gavin Newsom said the attractive nine-story building is changing the neighborhood around it. He is witnessing the transformation on a daily basis, he said, noting that 990 Polk, which replaces a defunct laundry business, is along his daily commute.
Financing for the project included $20 million in low-income housing tax credit equity from Bank of America that was syndicated by Enterprise. The Mayor’s Office of Housing also provided $14.6 million. Other financing includes $1 million from the Federal Home Loan Bank of San Francisco’s Affordable Housing Program through member Mechanics Bank and about $1 million from the state’s Mental Health Services Act housing program administered by the California Housing Finance Agency, the California Department of Mental Health, and the San Francisco Department of Public Health, Community Behavioral Health Services. Union Bank of California provided an $18.5 million construction loan.
Herman & Coliver and Levy Design Partners were the architects.
