Clearinghouse CDFI (CCDFI) is helping to address San Francisco’s acute homelessness issue with a $6,166,550 loan to preserve affordable housing for extremely low-income individuals transitioning from homelessness. CCDFI’s loan supports the acquisition of the Kean hotel, which will be leased to the San Francisco Homeless Outreach Team (SFHOT)—an arm of the Department of Homelessness and Supportive Housing that connects vulnerable individuals with shelter and resources.
San Francisco is home to an estimated 7,800 homeless individuals. This homeless crisis comes amid rising rents and a national shortage of affordable housing. SFOT offers 40 affordable units at the Kean Hotel to individuals exiting homelessness. This affordable housing is offered to individuals with incomes less than 30% AMI.
SFHOT works to engage and stabilize the San Francisco homeless population while working collaboratively with the Department of Public Health’s Street Medicine team to address medical and behavioral health needs.
Read the full story here: Just Funded – Kean Hotel