JPMorganChase Commits $200M to Housing in San Francisco

JPMorganChase is following up its recent financing of the 105-unit Sophie Maxwell Building in the Power Station redevelopment within San Francisco’s Dogpatch neighborhood by providing nearly $200 million in financing for a new 342-unit residential building at Power Station. The financial services giant announced the commitment as part of its broader rollout of a planned $750-billion deployment to the housing sector within the next decade.

Additionally, JPMorganChase said it will make up to a $15-million equity investment in Fifth Space’s new “Essential Housing Fund” to build affordable housing units in San Francisco, including an expected 250 units in Potrero Hill. It’s also planning $6 million in new grants to the San Francisco Housing Accelerator Fund, Community Vision Capital & Consulting, San Francisco Bay Area Planning and Urban Research Association and The Housing Action Coalition and Housing California.

“JPMorganChase’s investment in housing reflects their commitment to San Francisco’s future, and these projects with hundreds of new homes show what we can do when the private sector and the city come together to tackle the issues that matter to families,” said San Francisco Mayor Daniel Lurie.

Rendering courtesy of Perkins&Will.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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