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Bay Area Housing Innovation Fund

THE SAN FRANCISCO HOUSING ACCELERATOR

Foundation Affordable Housing GrantsHousing Grants for NonprofitsSupportive Housing Grants
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Funding Amount

$100 million fund (loan amounts vary by project)

Deadline

Rolling / Open

Grant Type

foundation

Overview

Bay Area Housing Innovation Fund

Overview: A first-in-nation fund designed to change the way affordable housing is financed in the Bay Area. The fund provides loans to developers who can meet ambitious quality, cost, and time goals for affordable housing construction.

Geographic Scope: Bay Area, California

Focus Areas:

  • Deliver high-quality affordable homes faster and for less

  • Reduce per-unit costs (targeting below $800,000 per unit vs. current $800,000+)

  • Compress construction timelines (targeting under 5 years vs. current 5-10+ years)

  • Permanent supportive housing for seniors and individuals experiencing homelessness

    • Fund Size: $100 million

    Key Statistics:

  • First-in-nation fund (announced December 10, 2025)

  • Funding allocation: Mezz (mezzanine) loans and permanent loans available

    • Projects Financed:

  • 1633 Valencia Street, San Francisco: $16 million loan, 145 units of permanent supportive housing for seniors 55+, expected January 2026, $540,000 per home (Mercy Housing California developer)

  • Harvey West Studios, Santa Cruz: $11 million loan, 120 units of permanent supportive housing, expected July 2026, $530,000 per home (Housing Matters/MidPen Housing)

    • Geographic Focus: Bay Area, with projects in San Francisco and Santa Cruz County

    Contact: Max Szabo | max@szaboandassociates.com

    Address: 564 Market St, Suite 225, San Francisco CA 94104

    How to Apply

    Application Information

    Status: NOFA (Notice of Funding Availability) forthcoming—sign up to receive alerts about the NOFA

    Required Materials:

  • Term sheets available for review: Innovation Fund Mezz Loan Term Sheet and Innovation Fund Perm Loan Term Sheet

    • Application Process:
    Detailed application procedures to be announced with NOFA release. Prospective borrowers should review available term sheets and sign up for alerts.

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    Focus Areas & Funding Uses

    Fields of Work

    affordable-housinghousingsupportive-housing

    Categories

    Browse similar grants by category

    Affordable Housing GrantsHousing Grants for NonprofitsSupportive Housing Grants

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