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Sequoia Living Acquires Land to Develop Affordable Senior Housing in San Francisco
EINPresswire.com – Sequoia Living, a Bay Area nonprofit organization, announced today that it has purchased a one-acre parcel of land at 3435 Cesar Chavez Street in San Francisco, which will be developed into affordable housing.
“One of Sequoia Living’s key priorities is to expand our affordable housing offerings and serve socio-economically diverse older adults,” said Sara McVey, President and CEO of Sequoia Living. “With this new housing community, we’re putting our mission into action and responding to one of San Francisco’s most urgent needs.”
According to a recent report from San Francisco’s Budget and Legislative Analyst’s Office, San Francisco is facing a critical shortage of affordable senior housing. A 2018 San Francisco Planning Department report also found that a quarter of older renters are cost-burdened, spending 30% or more of their income on housing. An additional 26% are severely cost-burdened, with at least half their income spent on housing.
Located at the intersection of the Mission and Bernal Heights neighborhoods, the newly acquired land was previously used as a parking lot. “It’s an ideal site for our fourth affordable senior housing community,” said Dave Latina, Sequoia Living’s Chief Business Development Officer. “Besides being convenient to public transportation, it is within walking distance to a hospital, shops, markets, and parks. Our leadership team and board of directors have made it a priority for Sequoia Living to be part of addressing the housing crisis. Acquiring this site sets us on the path to act on that priority.”
Sequoia Living looks forward to working with the community, nonprofit housing and service providers, and the San Francisco Mayor’s Office of Housing and Community Development. Because the site will be developed in phases, Sequoia Living will soon be reaching out to form partnerships with other nonprofit housing and service providers and begin a dialogue with the community.