![Bay Area Housing Crisis](/img/housing.jpg)
Projects
The Affordability Project’s inaugural non-profit housing development will be in San Francisco at 5250 3rd Street in Bayview Hunters Point. 70% of the 100 unit project will be affordable, below market rate rentals for nurses, teachers and other middle income professionals and families.
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5250 3rd Information
All proceeds from project will be used to fund acquisition of additional non-profit BMR project
• Building will earn income for the 501c3• Financing model will be a mix of:
• Conventional debt
• Low interest / interest free debt from social impact funds at technology companies
• Low interest / interest free debt and/or grants from housing funds
• Donations from high net wealth individuals, foundations, and family charities
![Screenshot](/img/project1.png)
![Screenshot](/img/project2.png)
• 100 Total units
• 20 at 50-80% AMI
• 50 at 90-130% AMI
• 30 at market rate
• Time parameters:
• Planning submission October 2021
• Planning commission approval June 2022
• DBI approval June 2024
• Estimated construction begins February 2025
• Leasing begins August 2025
• Building occupied December 2026