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

As of the end of Fiscal Year 2022-2023 (“FY 22-23”), 9,239 units (2,752 affordable units and 6,487 market rate units) have been completed in these Project Areas.

Of the 21,927 total units, 32% (7,115 housing units) will be affordable. Affordable units are defined as being restricted to and priced for households earning 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 Fiscal Year 2022-2023 provides a summary and status of OCII’s housing goals, and accomplishments from FY 22-23 as of June 30, 2023, including the following:

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

Housing Completions and Stats

In Q1 FY 22-23 in Mission Bay South, 148 affordable homeownership units began construction. In Q4 FY 22-23, two 100% affordable rental projects totaling 185 units began construction in Hunters Point Shipyard Phase I. Also in Q4 22-23, 141 units of permanent supportive housing completed construction in Mission Bay South. See Table 1 for this data.

Table 1: Housing Completions and Stats

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 22-23, the CCII approved construction and additional predevelopment loans for a total of
$42,417,338 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