State Giving S.F. $8.8 Million for 2 Affordable Housing Projects
The state will grant San Francisco $8.8 million to help fund two affordable housing projects in the Tenderloin and the South of Market neighborhood.
Using proceeds from its cap-and-trade auction, the state will give $6.5 million toward the development of 85 affordable units at 222 Beale St. and $2.3 million for the Eddy and Taylor Family Housing project.
Mercy Housing is developing 222 Beale St., which will provide 120 affordable housing units. The complex is part of the Transbay Transit District.
The state will also give $2.3 million to help build 103 affordable units at the corner of Taylor and Eddy Streets in the Tenderloin. The money is in addition to $10 million the state has already provided for the project.