MEDA, MOHCD and Housing Accelerator Fund Celebrate Renovation of Historic Residential Building

San Francisco, CA — The Mission Economic Development Agency (MEDA) today celebrated the completed renovation of a historic residential building in the Mission District that will ensure permanent affordable housing for local tenants. The project was made possible in partnership with the City of San Francisco, through the Mayor’s Office of Housing and Community Development (MOHCD), and the San Francisco Housing Accelerator Fund.

“Rising rents are making it harder for the people who have built their lives in our city to stay here. That’s why our administration is working every day to make more homes affordable to San Franciscans,” said Mayor Daniel Lurie. “I am proud to have introduced legislation to keep this site affordable for years to come, ensuring that dozens of Mission residents can stay in the community they call home. And we are continuing this work across the city, protecting renters from sudden rent spikes and unwarranted evictions as we continue to build affordable homes and preserve the ones we have.”

Built in 1918, the building at 2061 Mission Street carries deep historic character that reflects the heart of the Mission District and is home to 35 residents and four commercial tenants. MEDA purchased the building in 2024 with acquisition financing from the Housing Accelerator Fund, with the intention of upgrading it and making it permanently affordable under the City’s Small Sites Program. Permanent financing from MOHCD will secure the building’s long-term sustainability, keeping homes affordable and the property well maintained.

“This project shows how strategic public investment can make a lasting difference,” said Daniel Adams, Director of the Mayor’s Office of Housing and Community Development. “By safeguarding these homes as permanently affordable, we’re reinforcing our commitment to preventing displacement and supporting the families and businesses who have helped shape the Mission for decades.”

As part of the rehabilitation process, the building received numerous upgrades, including a seismic retrofit and a complete gas-to-electric conversion, ensuring the building remains a safe, energy-efficient anchor for the community. The renovation preserved the building’s unique architectural features, including its skylight and winding staircase.

“This site is one of the foundational residential buildings of the Mission District, but it was in need of critical improvements,” said MEDA Chief Real Estate Officer José García. “Through this effort, we are not only ensuring the long-term durability of the structure, but we are providing lasting stability for the residents and businesses who call this place home.”

In addition to the seismic and energy efficiency upgrades, the improvements included new kitchen appliances and interior finishes, a building-wide intercom system for secured residential access and air-conditioning in select units.

“The Mission District has long felt a disproportionate impact of San Francisco’s affordability challenges and those issues are more acute than ever today,” said District 9 Supervisor Jackie Fielder. “At a time when evictions are at a 10-year high, it is critical that we undertake more projects like this one, where long-time tenants can continue to access permanently affordable, safe, and dignified housing in their own communities.”

The building’s purchase and renovation were the result of a public-private partnership that helps ensure affordability for local residents. The Housing Accelerator Fund, a nonprofit lender launched in 2017 to invest in the preservation and expansion of quality affordable housing and community facilities, provided the financing that allowed MEDA to acquire the building. The Fund works alongside public programs like Small Sites, through which MOHCD provides acquisition and preservation loans to local nonprofits to buy and rehabilitate multi-family rental buildings.

“The more affordable housing we preserve, the more families we can keep in the communities they call home,” said Rebecca Foster, CEO of the Housing Accelerator Fund. “The upfront capital we provided helped MEDA acquire and transform this nearly century-old building into safer, healthier, more sustainable homes that will serve Mission residents for generations to come.”

With the renovation complete, 11 residential tenants are returning home, including some who have lived in the building for 30 years.

“For me, living in the Mission means being with our people,” said tenant Silvestre Rodriguez. “This is our community. Most of us here are Latino, and being close to that is the most important part.”