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80 Homes for Low Income Seniors Preserved by
Tenderloin Neighborhood Development Corporation
Partnership with SF Redevelopment Agency will Keep Apartments Affordable
SAN FRANCISCO — The Tenderloin Neighborhood Development Corporation (TNDC) today announced that it is preserving more than 80 apartments that provide homes for low-income seniors – removing the risk of the buildings being turned into market-rate housing. TNDC took over ownership and management of the apartments on January 29, 2007 and will provide voluntary, on-site supportive services to the residents.
The Turk and Eddy Preservation Properties, located at 249 Eddy Street and 165 Turk Street, are home to more than 80 seniors with extremely low incomes. Although the two buildings have been operated as affordable housing for over twenty years, they were recently at risk of being sold on the private market and turned into market rate housing. TNDC, with $7 million in financial backing from the San Francisco Redevelopment Agency and over $2 million from the California Housing Finance Agency, stepped in and arranged to purchase and manage the apartments.
“The lack of affordable senior housing in San Francisco is becoming more problematic as the senior population increases, and the inventory of affordable housing decreases,” said TNDC Executive Director Don Falk. “By working with our public agency and corporate partners, we can make independent living a reality for scores of seniors.”
TNDC will rehabilitate the buildings, including modernizing the mechanical, electrical and fire safety systems as well as improving access for seniors with mobility issues. TNDC will also offer an on-site staff of social workers who can assist residents with access to community services and healthcare – thus ensuring that seniors get the community assistance they need for healthy, independent living.
TNDC currently provides 470 apartments in San Francisco for 600 low-income seniors, helping them achieve independent living by combining affordable housing and on-site staff assistance – giving residents access to community services available from other nonprofits and public agencies. The acquisition of the Turk and Eddy Preservation Properties will boost the total number of TNDC’s senior housing to 550 units. This growth trend is expected to climb. Over the next few years, TNDC will create over 150 additional new housing units for low-income seniors at development sites on 990 Polk Street and 850 Broderick Street.
Founded in 1981, TNDC’s mission is to provide safe, affordable housing with support services for low-income people in the Tenderloin community and be a leader in making the neighborhood a better place to live. TNDC now owns and manages 23 buildings that provide homes for 2,400 extremely low-income seniors, families, people with disabilities, low-income wage earners, immigrants and others in the Tenderloin and nearby neighborhoods. In addition, TNDC provides on-site supportive services and resources such as social workers and after-school programs to help residents stabilize their lives and develop a sense of community.