Mission
San Francisco Housing Development Corporation (SFHDC) is a community-based, non-profit organization founded in 1988 by civic and community leaders from the Western Addition and Bayview Hunters Point. It was established in response to gentrification and escalating housing costs that resulted in the steady displacement of African Americans from these areas during the latter part of the 1980’s. Since our inception, SFHDC’s mission has been to foster financial stability through the development of affordable housing and the facilitation of home ownership. More recently, SFHDC has expanded its scope to include the economic revitalization of the Third Street Corridor in Bayview Hunter’s Point and other neighborhoods in southeast San Francisco.
Recent Achievements
- • SFHDC has developed affordable housing units valued at over $70 million, ranging from rentals to for-sale homes, and special needs housing in underserved communities
- • In 1-year SFHDC raised $2.1 million dollars towards our equity fund, which was established to help revitalize distressed low income neighborhoods such as the 3rd Street Corridor in the Bayview
- For two years we served as a faciliting agency for the City's Community Housing Rehabilitation Program helping low income single family homeowners correct housing code violations, secured $1,103,000 in fixed-interest, deferred loans for these clients.
- • This year, we completed the construction of 18 new homes priced as low as $140,000
- • For two years we served as a facilitating agency for the City's Community Housing Rehabilitation Program, and through this program helped low income single family homeowners correct housing code violations, and secured $1,103,000 in fixed-interest deferred loans for these clients
- • Annually, through our housing counseling program we serve 700-800 low and moderate income families and individuals
- • Within the past 3 years, SFHDC has assisted approximately 200 first-time homeowners, while at the same time creating hundreds of mortgage-ready clients
- • In October 2006, we opened a new Homeownership Center in the heart of Bayview - a low income community on 3rd Street
- • During 2007-08, the average loan value for an SFHDC homebuyer was $298,670. Thus, within a 12 month period, our clients originated over $10,000,000 in mortgage loans
- • In 2006-07, we restructured our HUD certified housing counseling program to meet national industry standards and to model Neighborworks Full-Circle Lending Cycle, with a lending component soon to be launched
- • SFHDC also serves the community by offering a financial literacy program to public housing development tenants in Bayview Hunters Point
