When we talk about supporting people where they live, San Francisco’s Small Sites Program (“SSP”) is exactly the kind of initiative that gets us excited. Today, we can announce our closing on the acquisition of 528 Natoma Street, our fourth SSP project, and the third we have undertaken this year. 

Gallery: Exterior facade of 528 Natoma, map of the location, and interior images show the extensive damage the units have suffered due to unaddressed plumbing issues. 

When the renovations of this 4-unit building and our other recent acquisitions are completed, SFHDC will have permanently preserved and protected a total of 70 SSP units for low- and moderate-income households across the City. 

Following our successful completion of two SSP projects (520 Shrader and 168 Sickles) and the initiation of renovations on the City’s largest SSP (936 Geary Street), SFHDC took on the Natoma Street project with our 936 Geary Street partner, Novin Development. Constructed in 1907, the building’s four units each have two bedrooms and one bathroom and are occupied by long-term tenants. At the time of the SFHDC/Novin Development acquisition, the building was bank-owned, in poor condition, and in need of substantial rehabilitation to bring the living conditions up to acceptable and healthy standards. During the extensive renovation process, the four families will be temporarily relocated off-site until the work is completed.

The Small Sites Program is sponsored by the Mayor’s Office of Housing and Community Development (MOHCD), which provides permanent financing to ensure affordability for the life of the building. The San Francisco Housing Accelerator Fund (SFHAF) provides the acquisition and rehabilitation funding, enabling housing organizations to purchase and protect existing multi-family properties that are being sold on the market. Through collaboration with partners such as Mission Economic Development Association (“MEDA”) and Novin Development, we are preserving existing housing and ensuring affordability in perpetuity for low- and moderate-income San Franciscans where they already live. 

We are excited about being part of such an important program and look forward to including the residents of 528 Natoma in our affordable housing community.