Padilla Applauds Over $26 Million in FHLBank San Francisco Awards for California-Based Affordable Housing Groups
CALIFORNIA — U.S. Senator Alex Padilla (D-Calif.) applauded the Federal Home Loan Bank of San Francisco’s (FHLBank San Francisco) announcement today awarding over $26 million in Affordable Housing Program (AHP) grants to fund 30 projects that will create 2,420 units of affordable housing in California. California is facing a massive shortage of affordable housing options available to extremely low-income households, reportedly needing at least 2.5 million new housing units over the next eight years to support the growing population.
“Addressing the affordable housing and homelessness crises requires a multi-faceted approach and partners like FHLBank San Francisco are crucial in helping find solutions,” Senator Padilla said. “This funding will help support projects across California to provide communities with the affordable housing and services they need. I’ll continue working with all our partners to ensure that every person has a right to the dignity and security of housing.”
Last month, Padilla was joined by his Senate colleagues in cosponsoring the Delivering Essential Protection, Opportunity, and Security for Tenants (DEPOSIT) Act. This legislation would help low- and very low- income renters overcome the barrier of security deposit payments to access housing.
AHP grants contribute to the development, preservation, and rehabilitation of single-family and multifamily housing that serves people in need, including the chronically unhoused, families, seniors, veterans, at-risk youth, people living with disabilities and mental health challenges or overcoming substance abuse. In total for the 2023 program cycle, the Bank’s AHP awarded $32.9 million in funding for 38 affordable housing projects in California, Arizona, and Nevada.
Notable projects in California winning 2023 AHP General Fund grants include:
- $1 million awarded for the rehabilitation of The Woodlands in Woodland Hills, California, which will convert a 1974 hotel into 100 units of rent-free transitional housing for homeless households, in collaboration with member City National Bank and Hope of the Valley Rescue Mission.
- $1 million awarded for the new construction of Sango Court in Milpitas, California, to create 101 units of housing for low-income residents, with 51 units allocated for veterans and formerly unhoused individuals, in collaboration with member Century Housing Corporation and Resources for Community Development.
- $1 million awarded for the new construction of Ancora Place, a multi-family development in Oakland, California, designed to provide 77 permanently affordable rental housing units for large families and other extremely low-income residents, in collaboration with member Wells Fargo National Bank West and Satellite Affordable Housing Associates.
- $1 million awarded for the new construction of Cudahy Seniors, a mixed-use senior housing development in Cudahy, California, which will create 140 units of affordable housing for seniors in need of a safe and service-enriched environment to “age in place,” in collaboration with member Citizens Business Bank and National Community Renaissance of California.
AHP-funded projects represent a wide range of strategies and solutions, from historic preservation and adaptive reuse to new construction and rehabilitation.
Senator Padilla believes that housing is a human right and recognizes the need to increase affordable housing and address the homelessness crisis facing California. He is proud to advocate for significantly increased federal funding and resources as well as champion transformative legislation, like his Housing for All Act, to significantly expand the supply of affordable housing and services for people experiencing homelessness. Earlier this year, Padilla cosponsored the Fighting Homelessness Through Services and Housing Act, a bill to authorize $1 billion annually to help local governments address homelessness.