Ritz Hotel

Serving 90 individuals with extremely low incomes, including people who have experienced homelessness.

The Ritz was acquired in November 1991 by a non-profit corporation formed by TNDC and Chinese Community Housing Corporation. TNDC oversaw the renovation and manages the 100% Section 8 building, which is home to 90 adults with mental or physical disabilities.

This Beaux-Arts era building underwent a seismic retrofit and comprehensive general rehabilitation in 1993 to address years of deferred maintenance under the previous ownership. TNDC carried out another voluntary seismic retrofit in 2021-2022. This rehab invested over $16M in construction costs into the Ritz, significantly upgrading its seismic and structural resilience, while also rehabbing unit interiors, upgrading the heating system, adding more community spaces including a laundry room, and bringing new fixtures, paint, and finishes throughout the building.

The development costs were financed through a complex and ground-breaking strategy, through a hybrid, scattered-site tax credit syndication that combined the Ritz Hotel, with the Ambassador Hotel down the street. This approach allowed TNDC to leverage both 4% and 9% tax credits and historic tax credits, while recasting existing debt with the City and County of San Francisco and HCD, and a new a perm loan through MOHCD's PASS program. US Bank provided the construction loan and tax credit investment that made this project a reality.

This description was last updated on 1.18.2023.

Housing: 34,780 square feet

Commercial: 4,328 square feet