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California  + Bay Area  + Apartments  | 
New Supportive Housing Development Breaks Ground in SoMa

New Supportive Housing Development Breaks Ground in SoMa

Enterprise Community Partners, Mercy Housing California (MHC) and the City and County of San Francisco have announced the groundbreaking of 7th and Brannan, an eight-story, 221-unit affordable housing community in San Francisco’s South of Market neighborhood. The project will be financed in part through a $53 million equity investment by Enterprise and Fannie Mae under the federal Low-Income Housing Tax Credit program. Construction and permanent financing are being provided by Chase.

“We’ve got to prioritize preventing low-income families from becoming homeless or being priced out of San Francisco, just as much as supporting people who are experiencing homelessness. This development gives us the opportunity to do both at once,” said MHC President Doug Shoemaker.

7th and Brannan will include studio, one-, two- and three bedroom apartments, with 100 homes designated for families earning between 50% and 60% of the area median income. The additional units with supportive housing services will be available for families earning between 30% and 50% of AMI. Amenities include a community room, laundry room and landscaped courtyards.

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Inside The Story

Enterprise Community PartnersMercy Housing CaliforniaDoug Shoemaker

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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