SF Mission launches fourth economic housing project
Construction of the fourth building of the 7-storey project in the Mission area of America was started. The low-cost 127-unit project was officially launched on Wednesday.
60 committee members came to the field to open the foundation of the project. The project, which consists of fully affordable housing, is designed to house low-income families. The groundbreaking ceremony began with the demonstrations of Aztec dancers.
“We are only at the beginning of our path of this journey to address the Mission District’s housing crisis,” said Mission Economic Development Agency CEO Luis Granados.
The project, developed jointly by the MEDA and Chinatown Community Development Center (CCDC), will allocate an area of 29 units for homeless youth. Also, the housing project will provide office space for non-profit organizations.
The building was designed by Mthun Architects and Ya Studio. The project’s $ 88 million cost was provided by five different public and private funding sources, including a grant from the Community Development Office and loans from the US Bank. The project is scheduled to end in the autumn of 2020.
“This particular victory is an example of the power of organizing, conviction, and the success of demanding more affordable housing,” said Marilyn Duran, a youth organizer with PODER, a nonprofit that advocates for immigrant families.
MEDA, which has undertaken the development of the project, currently has five projects under construction. One of the projects is the 143-unit building in Folsom, 681 units in Florida, and 12 units, 63- 18 unit apartment building, which has not yet been approved.
It is not the only real estate company that makes housing projects in this region. Mission Housing Development Corporation in the region is building 82 and 156 unit housing projects in the region.
“I love this project!” said The Rev. Norman Fong, the executive director of CCDC, at the end of his speech. “Now we’re going to do the shovel thing, right?”
Sevdenur Demir / [email protected]