How We Catalyze ELI & Supportive Housing
New affordable housing development doesn’t happen on its own – particularly housing that serves our lowest-income residents. Even with the significant funding unlocked by the 2016 Measure A housing bond, several other pieces (financial and otherwise) must come together to ensure that new affordable housing developments actually move from concept to construction. So, at Destination: Home, we’ve leveraged private funding with our Supportive Housing and Innovation Fund to catalyze the production of more ELI & Supportive Housing units.
The Supportive Housing & Innovation Fund has invested over $96 million to spur the development of deeply affordable housing.
Direct Investments in Developments with ELI & Supportive Housing Units
We make strategic, early investments that can help catalyze ELI & Supportive Housing production. In particular, we’ve provided zero- or low- interest acquisition and pre-development funding for 42 Supportive / ELI housing developments that collectively represent more than 4,100 affordable units.
Many of these communities are already open or under development, including:
The Algarve Apartments
Villas at 4th Street
Kifer Senior Apartments
Immanuel-Sobrato Community
1265 Montecito
The Magnolias
Calabazas Community Apartments
The Charles
Proving Housing Can Be Built Faster and For Less
To address the time and cost barriers often associated with the production of deeply affordable housing, we launched the Bay Area Housing Innovation Fund in partnership with the Housing Accelerator Fund, Sobrato Philanthropies and Apple. Over the next two years, the Fund will unlock more than 1,000 affordable homes across the Bay Area.
More Than Housing
Deeply affordable housing doesn’t just end homelessness. For residents, it’s the foundation for a better future. Hear them share the meaningful difference having a home makes: