December 2020
Homes to End Homelessness
BRIDGE and Community Housing Partnership broke ground in November on new permanent supportive housing on China Basin Street in San Francisco’s Mission Bay neighborhood. The 141-unit building will provide stable homes and wraparound supportive services for adults exiting homelessness. Cynthia Parker, President and CEO of BRIDGE, said: “We’re excited to see the building rise quickly with modular construction, and we’re proud to partner on these new apartments that will end homelessness for many San Franciscans.”
New Homes for San Mateo Families, Veterans
Last month, BRIDGE and partners celebrated the opening of Montara, a new 100% affordable housing development in the Bay Meadows neighborhood of San Mateo. Montara features 68 apartment homes, including 12 for formerly homeless veterans. Mayor Joe Goethals said, “The entire City Council is incredibly proud of Montara… it sets a high bar for affordable housing.” And resident Karenrose, pictured above, is grateful for her new home: “I’m glad we get to start this New Year off fresh living somewhere new, closer to our jobs, and we have more time for each other."
Bringing More Affordability to Portland
With construction financing closed and building permits issued last week, BRIDGE's second phase of RiverPlace Parcel 3 is now under way. The six-story building will add 178 new affordable homes to the overall development, which already features 203 affordable apartments at the recently completed Vera.
A Helping Hand for Residents
During the pandemic, access to food has become even tougher for people with low incomes. Together with our partners, BRIDGE has been delivering at least 17,000 meals and bags of groceries to residents each month—a lifeline for many families and seniors. Please consider making a gift to help support our residents with vital services. Thank you!
BRIDGE Issues $100M in Impact Bonds
This month, BRIDGE became the first nonprofit developer in the U.S. to close on a taxable social bond offering: $100 million in Series 2020 Sustainability Bonds. Proceeds will be used for predevelopment, development and acquisition of multifamily housing within BRIDGE’s Sustainability Bond Framework: affordable housing, transit-oriented development, green building and energy efficiency. “This bond brought a new class of investors to the table to invest in affordable housing and accelerate our development pipeline of 9,000 homes,” said President and CEO Cynthia Parker. Above: Balboa Reservoir rendering.
Promoting Federal Pro-Housing Policy
Up for Growth Action announced its federal legislative agenda for the 117th Congress. The pro-housing legislative advocacy campaign advances policies that achieve housing equity, eliminate systemic barriers and create more homes. "Through strategic, bipartisan legislative advocacy, Up for Growth Action is helping communities address the housing affordability crisis," said Cynthia Parker, BRIDGE President and CEO and Up for Growth Action Board Chair.