SAN FRANCISCO, February 28, 2020—Officials joined Mission Economic Development Agency (MEDA) and BRIDGE Housing today to celebrate the renewal of Mission Dolores, a 91-unit affordable rental community for seniors and residents with disabilities. The building at 1855 15th Street is one of 28 developments previously owned by the San Francisco Housing Authority that were revitalized under the Rental Assistance Demonstration (RAD) Program created by the U.S. Department of Housing and Urban Development and championed by the San Francisco Mayor’s Office of Housing and Community Development. The program leverages private capital to preserve and improve public housing and address a multibillion-dollar nationwide backlog of deferred maintenance.
“With every rededication the City celebrates, we take a step toward ensuring our residents in need have the resources to thrive,” said Dan Adams, Acting Director of the Mayor’s Office of Housing and Community Development. “The fully renovated Mission Dolores is a model of the transformative nature of RAD and will be a community asset for generations to come. Thank you BRIDGE, MEDA and most importantly, the residents for your steadfast partnership that has brought us here today.”
Co-developers BRIDGE and MEDA oversaw an extensive rehabilitation of residents’ apartments as well as community spaces, focusing on life-safety upgrades and modernization efforts to improve resident life. Under the provisions of the RAD program, no residents were displaced, all residents moved back into their revitalized apartments, and all continue to pay 30% of their income for rent. This project is part of the City’s commitment to preserving and revitalizing nearly 3,500 distressed public housing units across San Francisco. To date, nearly 3,300 apartments have been converted and renovated under the RAD program.
“MEDA was excited to work with co-developer BRIDGE Housing on the rehabilitation of 1855 15th St. This was a true collaborative effort, with City officials, funders, stakeholders, partners, community members and the property’s residents themselves working together to preserve 91 units of affordable housing so seniors and disabled San Franciscans can age in place with dignity,” stated MEDA Chief Executive Officer Luis Granados.
As a reflection of the Mission District’s rich cultural heritage, the building’s façade now features a 108-foot mural by Precita Eyes Muralists, a local arts organization. The sunflower design, chosen by Mission Dolores residents, symbolizes renewal and growth.
Cynthia Parker, President and CEO of BRIDGE, said: “The RAD program in San Francisco is transforming public housing, infusing millions of dollars into the rehabilitation of these homes and bolstering resident services that will enrich the lives of some of our most vulnerable community members. We are proud to have partnered with MEDA to preserve affordable housing in the Mission and prevent displacement.”
“It is so exciting to witness the transformation of an aging housing community like Mission Dolores into more modern, upgraded units for some of our most vulnerable city residents in the Mission District. Bank of America’s $2.2 billion in financing as part of SF-RAD helped ensure that these residents–more than 100 who are low-income seniors and disabled–can continue to live in safe, quality housing in our great City,” said Liz Minick, Bank of America San Francisco/East Bay Market Executive. “The incredible leadership of BRIDGE Housing and Mission Economic Development Agency and the San Francisco Housing Authority is to be applauded.” Bank of America’s Community Development Banking provided a record $4.88 billion in loans, tax credit equity investments, and other real estate development solutions for affordable housing last year alone.
The rehabilitation architect was HKIT Architects and FineLine Construction was the general contractor. Financial partners included the San Francisco Mayor’s Office of Housing and Community Development, San Francisco Housing Authority, U.S. Department of Housing and Urban Development, Bank of America Merrill Lynch, California Tax Credit Allocation Committee, California Debt Limit Allocation Committee, Freddie Mac, Enterprise Community Partners and U.S. Bank. Through a ground lease with the Housing Authority, the MEDA and BRIDGE partnership owns and operates the building and is preserving its deep affordability for the long term.
Among the speakers at today’s celebration: Dan Adams, Acting Director, San Francisco Mayor’s Office of Housing and Community Development; District 8 Supervisor Rafael Mandelman; Karoleen Feng, MEDA; Liz Minick, Bank of America San Francisco/East Bay Market Executive; and Dennis Katrones, President, Mission Dolores Tenants Council.
About Mission Economic Development Agency (MEDA)
Rooted in the Mission and focused on San Francisco, MEDA’s mission is to strengthen low- and moderate-income Latino families by promoting economic equity and social justice through asset building and community development.
About BRIDGE Housing
BRIDGE, a leading nonprofit developer, manager and owner of affordable housing in California, Oregon and Washington, has participated in the development of more than 17,000 homes since its inception in 1983.