San Diego Foundation Launches $100 Million Partnership to Speed Up Affordable Housing
San Diego is a city in San Diego County, California. The San Diego Foundation (SDF) announced on Oct. 6, 2026, a new $100 million financing partnership with Bear Creek Fund Advisors designed to provide a faster, more flexible path to construction of affordable homes for San Diego's workforce.
The announcement coincided with the groundbreaking of Louisiana Street, a new 38-home development in North Park and the first of four projects creating 257 affordable homes in North Park and Normal Heights. The other three projects — Kansas II, Oregon and Kansas III — will break ground in the future.
All 38 studio apartments at Louisiana Street will be required to remain affordable over the long term for San Diegans earning up to 80% of the area median income. The development brings together the San Diego Foundation, Bear Creek Fund Advisors and Naturally Affordable Housing, building on City of San Diego initiatives such as Complete Communities that help enable more affordable housing for San Diego's workforce.
"An approved housing project is not yet a home. It takes financing and committed partners to get construction started," said Mayor Todd Gloria. "This new partnership creates another path to move affordable housing forward faster, beginning with 38 homes for the working San Diegans who help keep our city running."
Affordable and workforce housing projects can take years to move from plans to construction, in part because traditional financing programs often require lengthy, competitive funding cycles. The SDF-Bear Creek partnership provides another path to construction financing that can help qualifying projects move forward faster.
Source: San Diego Foundation (Oct. 6, 2026)
Source: San Diego Foundation
Published by GSM · USA (original Chinese edition)
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