Affirmed Housing Opens Mixed-Income Project in SD’s Cortez Neighborhood

Affirmed Housing, a developer of affordable housing throughout California, cut the ribbon on The Helm, a new, mixed-income community for households earning 30% to 80% of the area median income. Located in the Cortez Hill neighborhood, The Helm delivers 77 units of middle- and low-income workforce housing to downtown San Diego.

“The Helm helps San Diego fulfill its goals and deliver on commitments that prioritize its core values – fostering the health, economic prosperity and well-being of all citizens,” said Affirmed Housing president Jimmy Silverwood. “This development not only delivers much needed workforce housing, but it promotes inclusive living and supports a healthy economic ecosystem – and it also happens to be affordable.”

The project is Affirmed Housing’s first development serving a majority of residents at 80% AMI and its first project to utilize Mixed Income Program funding from CalHFA. The company leveraged various types of funding and credit sources for the project’s development, including federal and state equity funds, Mixed Income Program funds from CalHFA, funds from the San Diego Housing Commission, deferred developer fees, bonds issued by the City of San Diego and conventional loans from U.S. Bank and California Community Reinvestment Corporation.

Connect Orange County will take place Sept. 27, 2023 at VEA | Newport Beach Marriott in Newport Beach, concurrently with Connect Healthcare Real Estate on Sept. 27 and 28. Click here to register for Connect Orange County, and here to register for Connect Healthcare Real Estate.