Affordable Housing Development Planned for LGBT Seniors in San Francisco

Affordable Housing Development Planned for LGBT Seniors in San FranciscoThe first affordable housing project in San Francisco to be funded by the recently approved Housing Trust Fund will be a long-stalled affordable housing development for LGBT seniors.

Voters adopted the trust fund on the November ballot. It will provide San Francisco with a permanent source of revenue to pay for below-market-rate housing for low- and middle-income households over the next 30 years. It is estimated to generate $1.5 billion over the lifetime of the fund, with $20 million expected during the first year.

Mayor Ed Lee announced this morning (Friday, November 30) that the first allocation of money from the trust fund would be $6.1 million toward construction of 110 units of LGBT-friendly housing for low-income seniors at the 55 Laguna project.

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Authored By Matthew J. Bajko – See the Full Story at the Bay Area Reporter

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