National Equity Fund, Inc. National Equity Fund, Inc.

Extraordinary things happen when you have great partners
Since 1987, National Equity Fund® has invested more than $13 billion revitalizing neighborhoods,
fostering economic growth and creating affordable sustainable housing.

Vera Haile Senior Housing

Vera Haile Senior Housing

Senior Housing

Mercy Housing California, one of the oldest and strongest affordable multifamily housing developers in the state and the St. Anthony Foundation, owner and operator of an outdated facility near Market Street in downtown San Francisco since 1950, decided to work together to create a new mixed-use development on its site that responds to current community needs. The former building had served as a neighborhood service facility distributing more than 2,500 meals a day to the poorest residents in the area as well a providing a free medical clinic.

The new mixed-use building named Vera Haile Senior Housing consists of 90 apartments targeted to seniors 62 plus who are homeless or at risk of becoming homeless. Mercy Housing’s residential portion of the facility begins at the third level, which also includes 5,000 square feet of community space with a lounge, elevator lobby, offices, conference room, community room and a large courtyard. Residents access the apartments from a separate secured entry.

A residential service coordinator skilled in issues around homelessness and aging is available as well as wellness programs, exercise and fitness classes, case management and counseling, computer training, social activities and referrals.

St. Anthony’s Foundation operates the ground and second floor of the new facility consisting of a 9,750-square-foot dining room and community kitchen offering free lunch to residents of the surrounding Tenderloin neighborhood. The second level contains a social work center and clothing center. National Equity Fund® invested $16.4 million in equity.


Project Details

Completed
2014
Location
121 Golden Gate Avenue
San Francisco, CA
Project Type
Elderly Supportive Housing
Total Units
90
Mix of Residences
43 studio; 46-1 br; 1-2 br
Limited Partnership
Mercy Housing California 50, LP
Tax Credit Equity
$16.5 million
Total Project Costs
$47.9 million
Sponsors
Mercy Housing, Inc.
St. Anthony Foundation
Permanent Lenders
Mercy Housing California
City and County of San Francisco
Silicon Valley Bank
City of San Francisco Mayor’s Office of Housing
Awards
2015 Readers’ Choice Award Finalist
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