More than 200 apartments in an affordable retirement living community in San Francisco will be renovated as part of a $25 million effort to maintain low-income housing.
Speaker of the House Nancy Pelosi played a role in garnering the financing needed to make the units more energy efficient and livable by working with S
an Francisco city officials to issue $26 million in tax exempt bonds and then working with other lenders to buy the bonds that will pay for the construction.
The project which will include new roofs, upgraded elevators and windows, is slated to be finished by next fall, according to contractor estimates.
"The rebuilding of this property strengthens the commitment to our neighborhood and the health and well-being of its citizens," said Will Tsukamoto, president of the board of directors for the site's managing general partner.
A variety of retirement living housing options are available at the San Francisco facility, including studios and multi-bedroom units that can allow familial caregivers to live near their aging relatives.