San Diego Mayor Todd Gloria is set to announce $20 million in new funding for affordable housing initiatives on Thursday.
This marks the fourth round of the Bridge to Home Notice of Funding Availability, launched by Mayor Gloria to increase the supply of affordable homes in San Diego. The program offers gap financing to developers, aiming to facilitate the development of affordable housing projects.
The funding is intended to support new construction, acquisition, rehabilitation, demolition, site clearance, site improvements, and lead removal, with the goal of providing housing for families and individuals who cannot afford market-rate options. This initiative particularly targets those at risk of homelessness or currently experiencing homelessness.
