Appendix

Table 9: Construction Throughout FY24-25

Project Area	Project Name	Address	Supervisor District	Project Sponsor	Type of Project	Type of Housing	Total Units	Market Rate Units	Inclusionary Affordable Units	OCII Affordable Units	Total Affordable Units	AMI Targeting	Set-Aside Units	Parking Spaces	OCII Actual Funding to Date	Construction Completion	Architect	General Contractor	SBE Professional (completed projects only)	SBE Construction (completed projects only)	SF Workforce (completed projects only)
TABLE 9: IN CONSTRUCTION THROUGHOUT FY24-25
Transbay	Block 2 West	272 Folsom St.	6	Chinatown Community Development Center	100% Affordable	Senior Rental with Permanent Supportive Housing	151	1	0	150	150	50% AMI and below	30 LOSP; 60 SOS	0	$65,011,065	Mar 2026	Mithun/Kerman Morris Architects	Swinerton Rubecon JV	TBD	TBD	TBD
Transbay	Block 2 East	230 Folsom Street	6	Mercy Housing California	100% Affordable	Family Rental with Permanent Supporting Housing	184	2	0	182	182	80% AMI and below	40 LOSP	0	$61,961,845	Jun 2026	Kennerly Architecture and Planning / Y.A. Studio	Swinerton Rubecon JV	TBD	TBD	TBD

Table 9: Construction Completions Throughout FY24-25

Project Area	Project Name	Address	Supervisor District	Project Sponsor	Type of Project	Type of Housing	Total Units	Market Rate Units	Inclusionary Affordable Units	OCII Affordable Units	Total Affordable Units	AMI Targeting	Set-Aside Units	Parking Spaces	OCII Actual Fundung to Date	Construction Completion	Architect	General Contractor	SBE Professional (completed projects only)	SBE Construction (completed projects only)	SF Workforce (completed projects only)
TABLE 9: CONSTRUCTION COMPLETIONS THROUGHOUT FY24-25
HPSY Phase I	Block 52 & 54	351 & 151 Friedell St.	10	The Jonathan Rose Companies	100% Affordable	Family Rental	112	2	0	110	110	50% AMI and below	n/a	62	$61,518,208	May 2025	Mithun / Solomon	Nibbi Baines	88.7%	51.8%	23.5%
HPSY Phase I	Block 56	275 Coleman St.	10	Mercy Housing California & SFHDC	100$ Affordable	Family Rental	73	1	0	72	72	50% AMI and below		46	$34,813,441	May 2025	Van Meter Williams Pollack	Nibbi Baines	89.9%	43.8%	32.5%
Mission Bay South	Block 9A	410 China Basin St.	6	Michael Simmons Property Development; Curtis Development; and Young Community Developers	100% Affordable	Homeownership	148	0	0	148	148	110% AMI and below		34	$83,184,122	Aug 24	Mithun/Studio VARA	Nibbi Baines	76.7%	42.8%	25.8%
HPSY Phase I	Block 52	52 Kirkwood Ave.	10	Lennar	Market Rate w/ Inclusionary	Homeownership	77	68	9	0	9	80% AMI		65	$0	Apr 24	LPAS Architecture + Design	Lennar Homes of California	57.3%	73.3%	23.0%

Table 10: Example Housing Project Schedule

This table illustrates the life and financing timeline of an OCII-funded affordable housing project from solicitation of a development team to completion of construction. A standard project that has no financing or other delays takes about 3 years from development team solicitation through construction starts, and about 2 years to construct.

The blue-shaded areas show predevelopment and construction activities and the yellow-shaded areas show the status of OCII financing during the same period. OCII typically approves funding for predevelopment once the development team solicitation is complete and then a larger permanent funding amount (the “gap” amount) later, once the project specifics are finalized.

A project’s predevelopment funding is typically included in the same fiscal year budget as the developer solicitation occurs. Internally, OCII begins planning the bond issuance that will fund the project’s gap loan about 4-5 months after the developer solicitation begins, to ensure that funds are in place for the bond issuance by the time the project needs the funds.

The Commission will see those funds as part of the annual ROPS Workshop and Budget approvals, and both issuance containing for funds for the gap loan will be approved by Commission during the predevelopment period.

For rental projects, which make up the majority of OCII-funded affordable housing projects, the funding schedule is driven by state low-income housing tax credit and tax-exempt bond funding timelines which shift annually.

To be competitive for this financing, OCII funds must be committed, though they will not be spent for about a year if a project is awarded funding on the first application, or longer if additional applications are necessary. Once a project is awarded these funds by the State, construction must begin within 6 months.

Once a project is complete, fully leased, and all permanent financing has been obtained, OCII will transfer its fee interest in the project site, together with OCII’s interest in any ground or air rights lease(s) and loan(s), to MOHCD as the Housing Successor Agency. MOHCD will perform long-term asset management and ensure compliance with the terms of project lease(s) and loan(s).