- San Francisco
- Affordable Housing
capital campaign bridge loan
New Markets Tax Credits
early care and education (ECE) funding
Leveraging long-term relationships with partners Mercy Housing and Wu Yee Children’s Services, LIIF’s lending team used a racial equity lens to support the rehabilitation of Sunnydale, which is San Francisco’s largest public housing development. LIIF’s lending included: $1.5 million capital campaign bridge loan; $13 million New Markets Tax Credits; and $3 million early care and education (ECE) funding.
This was a dramatic transformation of 785 pre-World War II barracks into 1,000 units of affordable housing and 700 units of workforce housing. The development is in a historically excluded community, with a 42% poverty rate, 25% average Area Median Income (AMI) and 93% of residents self-identifying as BIPOC. Additionally, the new early care and education center will offer space for 72 of the community’s children, with LIIF providing 75 hours of ECE technical assistance.