San Francisco
Fourteen projects with 1,422 distressed public housing units are being revitalized under the first phase of the San Francisco RAD project.
The first phase involves eight development teams and 14 limited partnerships. “It’s the entire San Francisco affordable housing ecosystem working together for the common goal of preserving affordable housing formerly run by the housing authority,” says Olson Lee, director of the Mayor’s Office of Housing and Community Development.
Approximately $200 million will be available to revitalize more than 1,400 public housing units under the Rental Assistance Demonstration deal. The San Francisco Housing Authority typically has just $10 million annually for capital repairs.
The RAD deal is critical for the San Francisco Housing Authority, which has an estimated $270 million backlog in capital repairs, with growth projections of over $5 million per year.