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 eight preservation loans, highlighted below, focused on protecting vulnerable low-income tenants from displacement across San Francisco:
4830 Mission St
Closing Date: July 25, 2018
Total Loan Amount: $13,248,000
Impact: 21 residential units + six commercial