The Federal Home Loan Bank of San Francisco (FHLBSF) has announced grants totaling $49.7 million in support of affordable housing projects in California, Arizona, and Nevada.
FHLBSF awarded funding to 27 partner nonprofits and affordable housing developers to finance 31 projects to create 2,053 units. A total of $37.9 million was awarded for 1,576 units in California, $6.7 million for 204 units in Arizona, and $5.1 million for 273 units in Nevada. This year’s projects include $10 million for six developments that will incorporate affordable housing with mixed-use spaces for childcare and job training and $10.4 million for six Tribal-led projects to create 191 units for seniors, the formerly unhoused, and low-income families.
In addition, FHLBSF recently awarded $52.6 million to help preserve 230 affordable housing units for low-income residents living near Fisherman’s Wharf in San Francisco.
“Everyone deserves a safe, secure and affordable place to live. But right now, we have a housing crisis that’s impacting families across the nation,” said U.S. representative Juan Vargas (D-CA). “As we continue to fight for policies that increase our housing supply and lower costs, I’m glad to see investments like this to expand access to affordable housing.”
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