San Diego will invest another $16.5 million into the Bridge to Home program, which has opened to developers of affordable housing for the seventh round of funding, it was announced Thursday.
The latest investment is in addition to the $123 million already allocated to speed up construction of 2,676 affordable homes across 28 projects.
"San Diego is continuing to make tangible progress on building more affordable housing," Mayor Todd Gloria said. "This $16.5 million investment in the city's Bridge to Home program provides the gap financing needed to move more projects closer to construction and deliver affordable homes sooner. This will support working families, seniors and San Diegans at risk of homelessness."
Of the $16.5 million announced this week, $12 million comes from former redevelopment funds — restricted to creating new housing, including site improvements and construction, city officials said.
The other $4.5 million is from State Permanent Local Housing Allocation funds, intended to "support the new construction or acquisition and rehabilitation of homes for persons experiencing, or at risk of, homelessness and those with household incomes at or below 30% of the area median income."
This week, San Diego issued a notice of funding availability for the seventh round of the funds. Qualified developers can submit proposals for how they would use the funding to create low- to moderate-income units.
"We are excited to continue contributing financing to this program, which has already proven effective in removing barriers to housing for all income levels — especially for low-income households and individuals experiencing homelessness," Economic Development Director Christina Bibler said. "Over the past five years, we've seen its proven success in accelerating housing production, revitalizing neighborhoods and ensuring equitable access to homes for all San Diegans."
According to the city, applications — which are due by April 6 at 5 p.m. — will be considered on a variety of factors, including project feasibility and community benefits. Projects with on-site day care, or located in Moderate to Highest Resource Areas, or developers who team with emerging developers, can receive bonus points.
Since Gloria began the Bridge to Home program in 2021, five of the 28 projects, totaling 390 affordable homes, have been completed. Of those homes, 146 include supportive services and are set aside for people who are experiencing or are at risk of homelessness.
These projects are:
— Jacaranda on Ninth in downtown;
— Ventana al Sur in San Ysidro;
— The Iris at San Ysidro in San Ysidro;
— Serenade on 43rd in City Heights; and
— PATH Villas El Cerrito in El Cerrito.
An additional 18 projects are either underway or have received approval by the San Diego City Council for Bridge to Home funding. Those include 1,667 affordable homes, 276 of which have supportive services. An additional 188 homes that do not include supportive services will serve vulnerable individuals and families at 30% to 40% of the AMI, according to a city statement.
