San Francisco Board of Supervisors Approves $60M+ in Bonds and Public Financing Package for La Maravilla/Marvel in the Mission Supportive Housing Development
San Francisco, Calif. — After agreeing unanimously on Tuesday, the San Francisco Board of Supervisors approved a financing package that includes a $61 million loan from the San Francisco Mayor’s Office of Housing & Community Development, the issuance tax exempt bonds, and a long term ground lease tax exempt for the first phase of the La Maravilla — also known as The Marvel in the Mission — a new affordable housing development at 1979 Mission Street.
Co-developed by the Mission Economic Development Agency (MEDA) and Mission Housing Development Corporation, La Maravilla will be the Mission’s largest affordable housing site. The complete development will deliver 382 affordable homes at the northwest corner of 16th and Mission Streets.
The first phase will create 136 units of Permanent Supportive Housing (PSH) for formerly homeless residents — providing stability, dignity, and a foundation for long-term success. Site preparation is scheduled to begin in December 2025, with construction beginning in early 2026.
MEDA and Mission Housing were selected to develop, own, and operate the housing and associated improvements proposed for the 1979 Mission Street project through a Request for Qualifications (RFQ) issued in August 2023. Together, both organizations are collaborating with John Stewart Company and Lutheran Social Services.
“I am deeply grateful to the Mission community organizers who fought for over a decade to make La Maravilla a reality,” said District 9 Supervisor Jackie Fielder. “The vote by the Board of Supervisors is the final legislative step before our affordable housing developers can finally break ground on the first of three buildings that encompass La Maravilla and will bring desperately needed housing to hundreds of our most vulnerable residents.”
The second and third phases are planned for later stages of the project and will add an additional 134 and 112 affordable family housing units, respectively.
“Today is about more than just a building—we are creating opportunity, stability, and futures for our residents. We thank Supervisor Fielder, our co-developer Mission Housing, and the Mayor’s Office of Housing for their commitment to this community vision,” said José García, MEDA’s Chief Real Estate Officer. “Permanent supportive housing isn’t just a roof; it’s the foundation for healing, recovery, and truly rebuilding lives.”
“This funding acts as a green light for construction more than a decade in the making, “ said Mission Housing’s Executive Team. “La Maravilla will be built by the Mission, for the Mission. The resources, the developer fees, the jobs — they all stay right here in our neighborhood. After years of fighting displacement and inequity, this is what hope looks like. “We have immense gratitude to our political allies — including former Supervisor Hillary Ronen and former Mayor London Breed — who continue to show support for our mission. More importantly, we thank the community who fought diligently to see this first step come to fruition. Today is a reminder that when the Mission comes together, there’s nothing we can’t build.”
About MEDA
MEDA is a nonprofit started in 1973. Rooted in San Francisco’s Mission District, MEDA is advancing a national movement by building prosperity, community ownership and civic power. We envision generations of families choosing where to call home, thriving economically, succeeding in learning opportunities, and leading policy and social change toward a more equitable society. medasf.org
About Mission Housing
Mission Housing has been the community’s affordable housing developer since 1971. Our vision is vibrant communities where everyone has secure, affordable, and sustainable housing. Visit www.MissionHousing.org for more details.
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