Affiliates of BRIDGE announced the grand opening of Armstrong Place, an affordable housing development is San Francisco, CA last week.
Over $41 million was invested in the project, which includes 116 units for seniors as well as 7,600 square feet of commercial space, community services and retail shops. Twenty-three of the apartments are set aside for formerly homeless seniors participating in San Francisco’s Direct Access to Housing program. These residents are eligible for intensive social services provided by the Providence Foundation of San Francisco, which will enable them to transition to independent living.
The grand opening represents the culmination of many years of effort by the city, community and development team to bring about the successful redevelopment of several underutilized warehouses as new housing and retail.
“Pairing the senior apartments with a family community helps prevent the seniors from feeling isolated,” said Cynthia A. Parker, President and CEO of BRIDGE Housing. “And Armstrong Townhomes provides opportunities for families to stay in San Francisco, in a neighborhood with access to transit, shopping and parks.”
The project also includes 124 affordable town-homes for first-time homebuyers, which range in price from $175,000 to $345,000 and are affordable to households earning 60 to 100 percent of area median income.
Financing for the development was provided by the California Department of Housing and Community Development; the San Francisco Redevelopment Agency; Bank of America (townhomes); U.S. Department of Housing and Urban Development (senior); Wells Fargo Bank (senior); Federal Home Loan Bank (senior); Enterprise Community Investment (senior); and Enterprise Green Communities (senior).
Both properties were designed by David Baker + Partners. Nibbi Brothers, Inc., was the general contractor for Armstrong Place Senior, and James E. Roberts-Obayashi Corporation was the general contractor for Armstrong Townhomes.