Number 53 Columbus in San Francisco’s Chinatown was once home to a garment industry sweatshop. Today, it is a residential cooperative owned by its low income residents, and includes office space for two nonprofit organizations. LIIF provided the San Francisco Community Land Trust with financing for the predevelopment, acquisition and rehabilitation of the building.
- 21 affordable housing units
$140,000 annual income savings for residents
7,500 office space for community organizations
- $50,000 predevelopment loan
$275,000 acquisition loan
$1.7 million construction loan
$2.1 million permanent loan with General Board of Pension and Health Benefits