INVESTING IN THE HOUSING CONTINUUM

Through our grantmaking and Impact Investment portfolio, AHF is an active investor in the housing continuum in San Diego, one of the primary social determinants of health.

As one of the least affordable places to live in America, San Diego’s housing production has been massively under-paced by the rate of economic and population growth for decades. It is estimated that we need over 130,000 units of new affordable housing units to meet the current need. (Affordable Housing Needs 2021 Report/California Housing Partnership)

Several of our recent grants and impact investments are aligned with the strategic priority of adding more attainable housing units to San Diego’s supply, including homeless housing for veterans, low-income affordable housing for families earning below 80% of the Area Median Income (AMI), and workforce housing for the “missing middle.”

AHF also provided initial funding to conduct a feasibility assessment on an innovative lease-to-own homeownership model for low-income San Diegans utilizing a Community Land Trust model. The goal is to simultaneously preserve perpetual affordability of housing while building long-term wealth through home ownership.

Each of our recent housing projects is positioned to disproportionately support people of color, recognizing the historic and systemic barriers to stable housing and home ownership that have plagued BIPOC populations for generations.

Lead Partners: Community Solutions; Middlemarch Fund; Casa Familiar; Hitzke Development; Mission Drive Finance; Hilltop Crossing LLC; Yes in God’s Backyard (YIGBY)

Market Street Village: protected 229 housing units of naturally occurring affordable housing, with roughly half of the units being designated for veterans exiting homelessness and the other half for low-income renters earning below 80% of the Area Median Income (AMI).

Casa Avanzando Community Land Trust (CLT): will include 103 units of multi-family, mixed-use affordable housing for families earning 30-60% AMI. The CLT is an ownership model that will work as an anti-displacement strategy to help remove land from the speculative real estate market.

Middlemarch Fund III: 70 new mixed-income rental units to the San Diego market, with 31 units deed-restricted for “missing middle” renters earning 80-100% AMI.

Hilltop Crossing project: 47 units of new workforce housing for families living at 120-150% AMI, targeted for first-time homebuyers with down payment assistance grants built-in.

26 units of new housing for homeless veterans in partnership with Bethel AME, San Diego’s oldest African American church.