The Anti-Displacement Preservation Program
The vast majority of San Francisco’s existing rent-stabilized housing is in small, multifamily buildings. One of the City’s key housing strategies is preserving small buildings to prevent resident displacement; through preservation, vulnerable residents are effectively protected from eviction and abuse. The key to success for preservation is simple: flexible and patient acquisition and construction capital to reposition the buildings, including rehabilitation, rent reorganization, and transitioning to long-term regulatory agreements.
Since its launch in April 2017, SFHAF has executed thirteen preservation loans, highlighted below, focused on protecting vulnerable low-income tenants from displacement across San Francisco:
937 Clay St
Closing Date: July 16, 2018
Total Loan Amount: $11,540,00
Impact: 21 residential units + six commercial