San Francisco approves $14.5M loan for 4200 Gary Boulevard affordable housing project

The San Francisco County government meeting on July 4, 2025, focused on a significant resolution to support affordable housing development. The primary agenda item was the approval of a loan to finance the acquisition of real property at 4200 Gary Boulevard. This project aims to create a 100% affordable multi-family rental housing complex consisting of 98 units specifically for senior households, along with commercial space.

Jonathan Gagan, a project manager with the Mayor's Office of Housing and Community Development (MOCD), presented the details of the proposal. The resolution seeks authorization for MOCD to execute loan documents for an amount not exceeding $14,500,000. This funding will cover site acquisition costs and predevelopment activities necessary for the construction of the housing project.

The initiative is part of a broader effort linked to a Notice of Funding Availability (NOFA) issued in December 2019, which allocated up to $15 million for affordable housing projects targeting districts with limited investment in such developments. This funding opportunity was made possible by the passage of Proposition A, an affordable housing bond measure approved by San Francisco voters in November 2019.

The project at 4200 Gary Boulevard is designed to serve low and extremely low-income seniors, with units priced at 60% of the Area Median Income (AMI). Additionally, 20 of the units will receive support through the local operating subsidy program, further enhancing affordability for residents.

The meeting allowed for public comments, emphasizing community engagement in the decision-making process. The approval of this resolution marks a crucial step in addressing the urgent need for affordable housing in San Francisco, particularly for its senior population.