Padilla Announces Over $49 Million in FHLBank San Francisco Awards for California-Based Affordable Housing Groups

WASHINGTON, D.C. — Today, U.S. Senator Alex Padilla (D-Calif.) announced that the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) awarded $49.3 million in Affordable Housing Program (AHP) grants to help fund 47 projects that will create 3,105 affordable housing units in California.

California is facing a massive shortage of affordable housing options available to extremely low-income households, with 70 percent of low-income families unable to afford their homes. According to the National Low Income Housing Coalition, California has the highest number of extremely low-income rental households of any state, with over 1.2 million state residents in need of an affordable place to live.

Padilla announced over $26 million in FHLBank San Francisco’s AHP grants to fund 30 California projects for 2,420 units of affordable housing last year. This year’s grant cycle represents more than an 89 percent increase in California funding from FHLBank San Francisco. FHLBank San Francisco is one of the largest private affordable housing grant providers in the nation, contributing $1.3 billion in funding since 1990.

“Housing is a human right and partners like FHLBank San Francisco understand that,” said Senator Padilla. “While more investments are needed to increase housing supply, this new round of funding is a step in the right direction to address the affordable housing and homelessness crisis that affects millions of Californians every day.”

“I am proud of the crucial investments FHLBank San Francisco is making in affordable housing across Arizona, California and Nevada – some of the most economically, geographically and culturally diverse states in America,” said Alanna McCargo, president and CEO of FHLBank San Francisco. “The affordable housing crisis affects countless families and individuals living in urban, populous cities, rural, tribal communities, and many places in between. We are pleased to be able to nearly double the amount of grant funding this year, in partnership with our members, to 59 critically needed projects across the region. They will have a meaningful impact on mitigating the affordable housing crisis, increasing the housing supply and providing much needed help for those in need.”

AHP grants contribute to the development, preservation, and rehabilitation of single-family and multifamily housing that serve people in need, including the chronically unhoused, families, seniors, veterans, at-risk youth, and people living with disabilities and mental health challenges or overcoming substance abuse. AHP-funded projects represent a wide range of strategies and solutions, from historic preservation and adaptive reuse to new construction and rehabilitation. In total, the Bank’s AHP has awarded $61.8 million in 2024 funding for 59 affordable housing projects in California, Arizona, and Nevada. 

The 2024 AHP California-based General Fund grants will fund a variety of projects including Community Land Trusts, commercial to residential property conversions, rehabilitation, and new construction that will benefit thousands of California residents.

Notable California recipients of 2024 AHP General Fund grants include:

  • National City — $1.4 million: This award will be used for the construction of Union Tower in National City, which will create 94 housing units for low-income residents in collaboration with Century Housing Corporation and Wakeland Housing and Development Corporation. 24 of these units will be allocated to veterans.
  • Los Angeles — $1.2 million: This award will be used for construction of The Arlington in Los Angeles to create 84 housing units for low-income residents, with 42 units reserved for permanent supportive housing for formerly homeless individuals. The development is in collaboration with Wells Fargo National Bank West and Kingdom Development Inc.
  • Hayward — $1.2 million: This award will be used for the construction of Hayward Senior Housing, which will create 80 housing units for seniors. The project is in collaboration with Wells Fargo National Bank West and Christian Church Homes of Northern California.
  • Fillmore — $800,000: This award will be used for the construction of Fillmore Terrace to create 50 housing units for low-income individuals, farm workers, and people with disabilities. The project is in collaboration with Wells Fargo National Bank West and Christian Church Homes of Northern California.
  • Anderson — $660,000: This award will be used for the construction of Sunrise Cottages in Anderson to create 45 housing units for seniors in collaboration with Tri Counties Bank and Rural Communities Housing Development Corp.
  • Glendale — $585,000: This award will be used for the construction and rehabilitation of Harrower Village in Glendale, which will convert a medical building into 40 affordable housing units for older adults. The project is in collaboration with Wells Fargo National Bank West and Abode Communities.
  • Bolinas — $200,000: This award will be used for the construction of 31 Wharf Road condominiums, a mixed-use development in Bolinas, which will create eight affordable housing units for large families and other extremely low-income residents. The project is in collaboration with Bank of San Francisco and Habitat for Humanity – Greater San Francisco, Inc.

A full list of California projects receiving funding is available here.

Senator Padilla believes everyone deserves access to affordable and safe housing and recognizes the need to drastically increase the affordable housing stock to address the homelessness crisis facing California and the country, including through supporting particularly vulnerable populations. This spring, he announced the reintroduction of the Housing for All Act, a comprehensive approach to invest in proven, locally-developed solutions to address the homelessness and affordable housing crises. Last month, Padilla announced over $16 million for affordable housing as part of the first-ever Pathways to Removing Obstacles to Housing (PRO Housing) program. Earlier this year, he also announced hundreds of millions of dollars for California from HUD’s Continuum of Care program for hundreds of organizations working to end homelessness.

Last year, Padilla and Senator Edward J. Markey (D-Mass.) introduced a pair of bills, the Homelessness and Behavioral Health Care Coordination Act and the Housing Alignment and Coordination of Critical and Effective Supportive Health Services (ACCESS) Act, focused on addressing the intersecting crises of homelessness, mental health, and substance use disorder. Padilla also cosponsored the Fighting Homelessness Through Services and Housing Act, a bill to authorize $1 billion annually to help local governments address homelessness.


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