April 8, 2025
Nell Selander, Director
City of South San Francisco | Economic & Community Development Department PO Box 711, South San Francisco, CA 94083-0711
Re: 1051 Mission Road Affordable – Gap Financing Request Dear Ms. Selander:
BRIDGE Housing is pleased to work with the City of South San Francisco on the 1051 Mission Road Affordable Project ("The Project"), a 158-unit, 100% affordable housing complex, with units designated for individuals and families earning between 30-60% of Area Median Income (AMI). The Project is a key component of an 800-unit master-planned community situated just east of the South San Francisco Kaiser Permanente Medical Center.
Following the receipt of a $2,000,000 predevelopment loan from the City in January 2022 and an IIG award totaling $28,817,500 in February 2023, BRIDGE Housing is committed to advancing the Project. We are currently progressing through the design phase, with Construction Documents at 75% completion.
In anticipation of securing an AHSC award in December 2025 and CDLAC/TCAC award in 2026, BRIDGE Housing is requesting an additional $2,725,000 from the City of South San Francisco. These funds will support continued predevelopment activities, serve as commitments for future funding applications, and expedite the commencement of construction. We appreciate your consideration of this request and look forward to furthering our collaboration to achieve this important housing initiative.
Sincerely,
Smitha Seshadri
Executive Vice President
BRIDGE Housing Corporation