December 2, 2012
The 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.