Location: San Francisco
TOAH Fund Financing: $4.5 million
Retail space: 13,000 square feet
Mercy Housing California, one of the country’s largest nonprofit developers of affordable housing, partnered with Openhouse, a nonprofit that provides housing and support services to lesbian, gay, bisexual, transgender (LGBT) older adults, to develop 110 units of affordable senior housing. This is San Francisco’s first affordable housing project dedicated to low-income LGBT seniors. Northern California Community Loan Fund (NCCLF) originated the loan through the Bay Area Transit-Oriented Affordable Housing (TOAH) Fund, to finance the acquisition of the property in the Hayes Valley neighborhood of San Francisco. The development is within a few blocks of several bus and rail lines.