• Zygmunt Arendt Housing

     
  • CDF Case Study

     Zygmunt Arendt Housing

    Project Scope

    Zygmunt Arendt House is 47-units of multi-family senior housing located at 850 Broderick Street at Golden Gate Avenue above San Francisco's Western Addition neighborhood. The project is a joint venture developed by the Tenderloin Neighborhood Development Corporation (TNDC) and the Community Housing Partnership (CHP).

    Amenities include a large landscaped courtyard and community room with kitchen. Because of the limited income potential of the target population, the ongoing operations of the project are subsidized by a grant from San Francisco's Department of Human Services and Public Health.

    Lending a Hand

    The 3-story building provides 47-studio units for formerly homeless individuals; at risk of homelessness; and disabled seniors earning 15%-25% of AMI ($11,880-$19,800yr for a single person) in San Francisco County.

    Helping Finance

    SVB provided a $10,500,000 tax-exempt bond purchase loan for construction. Additionally, SVB received an Affordable Housing Program (AHP) grant of $376,000 from the Federal Home Loan Bank of San Francisco for the project.

    Results

    The project was completed in May 2010 with the grand opening in June 2010.