Executive Summary

Summary of Report

The Office of Community Investment and Infrastructure (“OCII”) is the driving force in creating three vibrant and inclusive neighborhoods in San Francisco. Beginning under the leadership of the San Francisco Redevelopment Agency Commission and now under the Commission on Community Investment and Infrastructure (“CCII”, or “Commission”), 21,927 new housing units are being created in its major development Project Areas as summarized below.

•    Hunters Point Shipyard Phase I
•    Hunters Point Shipyard Phase II/ Candlestick Point
•    Mission Bay North
•    Mission Bay South
•    Transbay

In Fiscal Year 2023-2024 (“FY 23-24”), Senate Bill No. 593 (Wiener) was approved by both the Senate and Assembly and signed by Governor Newsom. Senate Bill No. 593 (“SB 593”) authorizes OCII to use a limited form of tax increment financing to fund and develop 5,842 affordable units that the former San Francisco Redevelopment Agency (“SFRA") destroyed and that were never replaced (“Replacement Housing Obligation”). SB 593 authorizes debt financing secured by redevelopment property tax increment that would otherwise be allocated to the City and County of San Francisco (“City”) after other existing obligations of OCII are paid. This source of funding is limited and thus issuing bonds to pay for the housing construction will occur over many years.

In Fiscal Year 2024-2025 ('FY 24-25") OCII began predevelopment on the first project that is anticipated to receive SB 593 funding. In total, OCII is responsible for 27,760 new units including housing created in Project Areas and the new Replacement Housing Obligation. As of June 2025, 9,649 units (3,091 affordable units and 6,558 market rate units) have been completed in these "Project Areas".

Of the 27,760 total units, 47% (13,023 housing units) will be affordable. Affordable units are defined as being restricted to and priced for households earning up to 0% up to 120% of the Area Median Income ("AMI").

Affordable rental projects typically serve low- or very low-income households (up to 60% or 50% of AMI), while affordable homeownership units are designated for first-time low to moderate-income buyers earning between 80%-120% AMI.

This Annual Housing Production Report for FY 24-25 provides a summary and status of OCII’s housing goals, and accomplishments from FY 24-25 as of June 30, 2025, including the following:

•    Housing construction completions
•    Housing in construction
•    Housing funding activity
•    Affordable housing marketing outcomes including Certificate of Preference results
•    Small Business Enterprise and Workforce results
•    Appendix with additional housing project details

Total Housing Completions

OCII completed construction on a total of 410 housing units in FY 24-25. These units are comprised of three Hunters Point Shipyard Phase 1(“HPS Phase 1”) projects including two family rental projects totaling 185 units and one 77 unit market rate homeownership with inclusionary project and one Mission Bay South 100% affordable homeownership project totaling 148 units. See Table 1 for this data.

Table 1: Housing Completions Fiscal Year 24-25

Housing in Construction

OCII projects currently in construction total 335 housing units in FY 24-25. These units are comprised of two Transbay projects including one senior rental project totaling 151 units and one family rental project totaling 184 units, See Table 6 for this data.
 

Housing Funding Activity

One of OCII’s key tools in delivering affordable housing is the ability to secure funding through public financing and make direct loans to affordable housing developers.

In FY 24-25, the OCII approved one predevelopment loan for a total of $5,111,731 as shown in Table 2.

The sources of funding for OCII’s affordable housing include taxable housing bonds authorized under Redevelopment Dissolution law, and developer fees such as jobs-housing linkage fees.
 

Table 2: Housing Funding Activity