112-Unit Hunters Point Shipyard Development in San Francisco Receives $5.9MM Grant

Jonathan Rose Companies, Bayview Hunters Point Multipurpose Senior Services, San Francisco, Bay Area, Hunters Point Shipyard, Bayview, Hunters Point, San Francisco Bay, Baines Group Inc, Nibbi Brothers, Mithun Inc, The John Stewart Company

The grant, awarded by California’s Department of Housing and Community Development, is part of the state’s new streamlined application process aimed at accelerating the development of new projects

San Francisco, CA (March 16, 2023) – Jonathan Rose Companies (“Rose”), one of the nation’s leaders in affordable and mixed income housing preservation, and Bayview Hunters Point Multipurpose Senior Services (BHPMSS), a nonprofit leader dedicated to serving seniors in San Francisco, were awarded a $5.9 million grant by California’s Department of Housing and Community Development (HCD) for the Hunters Point Shipyard development in San Francisco. The grant is part of the state’s new streamlined funding approval process that will accelerate the development of new projects and increase the state’s affordable housing stock. The first round of California’s Multifamily Finance Super Notice of Funding Availability (Super NOFA) saw more than $825 million in grants awarded to developers.

“At Jonathan Rose Companies, we are committed to creating high-quality, affordable housing for everyone, especially as the need for more affordable housing continues to rise in California and nationwide,” said Sarah White, Director of Development, California, Jonathan Rose Companies. “We are glad to receive this $5.9 million grant from the state’s HCD and look forward to bringing San Francisco residents the affordable and sustainable development they deserve.”

“We are pleased to be partnered with Jonathan Rose Companies on this impactful development, and we are thrilled to be the recipients of the IIG grant, which brings us one step closer to delivering 112 units of affordable housing to the Bayview community,” said Cathy Davis, Executive Director of BHPMSS.

Hunters Point Shipyard Blocks 52 and 54 (the “Project”) is a 112-unit affordable, multifamily housing project located in the Hunters Point neighborhood near the San Francisco Bay. Upon completion, the Project will feature a community room and lounge, fitness room, landscaped courtyards, including a children’s play area, as well as a property management office and resident services office.The development’s design will be low-carbon and energy and water efficient, and will include photovoltaic systems, all electric design, and healthy, non-toxic materials.

“As we demand more housing to be built at the local level, it is incumbent upon the state to reimagine and modernize our own approval process,” said Governor Newsom. “State applications that were once redundant and overly bureaucratic are now streamlined to ensure projects are not stalled in an endless bureaucracy that favored process over production.”

Financing is anticipated to close in April 2023, with construction commencing the following May. All construction is scheduled to be completed by June 2025.

“California continues to advance our commitment to building 2.5 million homes — with one million affordable homes — by 2030, as outlined in our Statewide Housing Plan,” said HCD Director Gustavo Velasquez. “Our simple approach to funding helps us accelerate much-needed construction and ensure the lowest-income Californians have access to quality homes near jobs, transit, schools, and other necessities that will make our communities more inclusive for decades to come.”

“The California Multifamily Super NOFA transformed a once burdensome and lengthy funding application process into an accessible and smart one-stop shop that will get more housing built faster,” said Business, Consumer Services and Housing Agency Secretary Lourdes Castro Ramírez. “This results in new homes for struggling working families, veterans, farmworkers, and people exiting homelessness. California will continue to act with urgency to find new, innovative solutions to fast track housing development.”

The development team consists of Baines Group, Inc. & Nibbi Brothers as the general contractors, Mithun, Inc., who recently won the 2023 AIA Architecture Firm Award, as the architect on the project, and The John Stewart Company will serve as property manager.

About Jonathan Rose Companies

Jonathan Rose Companies is one of the country’s leading developers and investors in sustainable, affordable, and mixed-income multifamily real estate, with more than 19,000 units owned. Founded in 1989, Jonathan Rose Companies is a mission-driven company focused on enhancing the health and wellness of its residents with green, energy efficient property improvements and through its Communities of Opportunities programming. With offices in New York, Connecticut, Colorado, Ohio, and California, Jonathan Rose Companies has developed or acquired more than $3.5 billion of real estate.

About Bayview Hunters Point Multipurpose Senior Services

For over fifty years, Bayview Hunters Point Multipurpose Senior Services (BHPMSS) has been a nonprofit leader serving as a catalyst for neighborhood activism, service, and advocacy. Their programs are designed to enhance and retain the health, quality of life, and culture of African American elders who remain as long-standing members of communities in San Francisco.

About the Multifamily Finance Super NOFA and Infill Infrastructure Grants

The California Department of Housing and Community Development (HCD) in 2022 combined state-funded multifamily housing program funds to make them accessible to more communities, more equitable in serving the lowest-income Californians, and more targeted toward achieving better outcomes in health, climate, and household stability. The first round of this new Multifamily Finance Super Notice of Funding Availability (Super NOFA) received more than $3.5 billion in developer requests for a funding pool of just $650 million.

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