San Francisco, CA –The Mission Economic Development Agency (MEDA) is proud to announce the successful purchase of two apartment buildings at 2059 – 2061 Mission Street and 2901-2929 16th Street. The buildings include 98 low-income units, 12 commercial tenants, and Latino community members at risk of displacement, some after decades of residency.
MEDA has been a strong partner to the Mayor’s Office of Housing and Community Development (MOHCD) Small Sites Program. From MEDA’s Associate Director of Preservation, Jose Garcia: “On behalf of MEDA, I extend our heartfelt gratitude to Mayor London Breed, MOHCD, and the San Francisco Housing Accelerator Fund (SFHAF) for their unwavering partnership and support in preserving 2059-2061 Mission Street—35 residential and four commercial spaces—and 2901-2929 16th Street, 63 residential and eight commercial spaces. These buildings are essential to the Mission community, housing cherished longtime residents and businesses that embody the neighborhood’s unique culture and vibrancy.
2059-2061 Mission Street
As we strive to build more affordable housing in San Francisco, preserving existing affordable homes remains a crucial strategy to keep residents rooted in their communities. I want to thank Luis Daniel Cruz and Guadalupe Mercado of MEDA’s Preservation team for their dedication and hard work in preserving these two sites.”
Funding for programs like San Francisco’s Small Sites Program is critical to mitigating displacement pressures and ensuring our communities remain vibrant and diverse.
“The Mission is a very diverse and culturally rich community, and the purchase of these buildings advances our work to allow vulnerable populations to continue to call this great neighborhood home,” said Mayor London Breed. “I thank MEDA for partnering with the City to provide residents at risk of displacement access to an affordable place to live as we expand housing across San Francisco.”
2901-2929 16th Street
The properties were financed by the City and County of San Francisco’s Small Sites Program, administered by MOHCD. The program was launched as a pilot in June 2014, with just $3 million in funding. Since then, it has directed approximately $314 million toward preserving existing buildings.
“Through the community real estate program, MEDA has made tremendous strides to reverse displacement in the Mission, growing the supply of affordable homes in the neighborhood while building vital capacity for this work within the organization and throughout the city. HAF is proud to partner with MEDA on the purchase of these properties, creating permanent affordability for dozens of vulnerable households and marking MEDA’s largest preservation acquisitions to date!” said Rebecca Foster, San Francisco Housing Accelerator Fund CEO.
About Mission Economic Development Agency (MEDA)
Rooted in the Mission and focused on San Francisco, MEDA’s mission is to strengthen low- and moderate-income Latino families by promoting economic equity and social justice through asset building and community development. medasf.org
San Francisco Housing Accelerator Fund (SFHAF)
Our mission is to invest in the preservation and expansion of quality affordable housing and community facilities. We accelerate the production and preservation of affordable housing for economically disadvantaged households, individuals, and communities by lending to, investing in, and directly acquiring real estate assets. sfhaf.org
Small Sites Program
The Small Sites Program (SSP) supports local nonprofit sponsors with acquisition and preservation loans, stabilizing at-risk communities by converting rent-controlled properties to permanently affordable housing. To date, the SSP acquisition and preservation program has deployed over $378 million in funding to preserve 69 buildings comprised of 843 residential units for low and moderate-income households and 50 commercial spaces.sf.gov/information/about-small-sites-program
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