Dev/Mission Announces New Lease Agreement with Mission Housing

For immediate release:

(SAN FRANCISCO, Calif.) — One of the premier Resident Services collaborations in San Francisco is taking another step forward.

On June 3, 2019, two years after agreeing to partner and incubate at one of Mission Housing Development Corporation’s marquee buildings, <dev/Mission> has signed a new lease agreement with the nonprofit developer making Valencia Gardens, located at 360 Valencia St., the official headquarters of the tech nonprofit.

“When we incubated dev/Mission two years ago, we could only dream that Leo and his team would reward our faith the way that they have,” said Sam Moss, Executive Director at Mission Housing. “We’re beyond proud of dev/Mission’s success. They’re further proof that Mission Housing’s commercial tenants thrive when they’re truly community partners, and we’ll continue to support these invaluable assets to our communities because that is the Mission Housing way.”

Mission Housing and dev/Mission are pleased to extend an invitation to the public on June 3, 2019 for the official ribbon cutting ceremony at the official headquarters of dev/Mission — 360 Valencia St. in the heart of the Mission District.

“Dev/Mission is very thankful to our partner Mission Housing Development Corporation for working together with our leadership team to develop this amazing lease that will help us enhance and deliver programming in the Mission District for years to come,” said Leo Sosa, Executive Director of dev/Mission.

“You know your work matters when you support  an amazing organization and partner such as dev/Mission,” said Marcia Contreras, Deputy Executive Director at Mission Housing.

“Mission Housing is thrilled to be able to secure a space for dev/Mission, but most importantly what this space represents to so many young adults. We believed in the vision that Leo Sosa presented to us two years ago. Today, we celebrate a mutual collaboration that has produced opportunities to so many, but most importantly it has empowered our young adults to believe in themselves and become our future leaders in the tech industry. They will now be responsible to open doors to others coming behind them within our own community.”

Launched two years ago, dev/Mission aims to train untapped young adults ages 16 to 24 for careers in tech.

To learn more about <dev/Mission> and to participate in this event please contact Leo Sosa at leo@devmission.org.

Event details:

When: Monday June 3rd, 2019

Where: Dev/Mission HQ (360 Valencia Street)

Time: 1:00pm – 2:00pm

dev/mission-invite

ABOUT MISSION HOUSING:

Mission Housing Development Corporation is a nonprofit, community-based organization creating and preserving high-quality affordable housing, and providing supportive services for residents of low and moderate incomes in the Mission District and throughout San Francisco. For more information on Mission Housing, visit MissionHousing.org.

ABOUT <DEV/MISSION>:

Our Mission: To train untapped young adults for careers in technology. 

Our Vision: To build wealth and prosperity in our local diverse communities through jobs in technology.

Our Goal: Our goal is to connect the most overlooked population in San Francisco, Bay Area and beyond; and expose them to careers in the tech industry.

Contact:

Leonardo Sosa, Executive Director

(415) 572.3947

leonardososa@devmission.org

Julio Lara, Communications Manager

(650) 678.4957

jlara@missionhousing.org

Mission Housing breaks ground at 490 South Van Ness

(From the Office of the Mayor, San Francisco) 

San Francisco, CA — Mayor London N. Breed and community leaders today celebrated the groundbreaking of 80 new affordable apartments in the Mission District, 20 of which will be set aside for San Francisco families wishing to move to the Mission under the HOPE SF program.

The 100% affordable project at 490 South Van Ness will serve households with incomes between 30% and 60% of Area Median Income (AMI), approximately $35,500 to $71,050 for a family of four. Construction is expected to be completed in Summer 2020.

Located in the heart of the Mission District just two blocks from 16th Street BART, the new apartments are being co-developed by Mission Housing Development Corporation and BRIDGE Housing. Residential amenities will include a community room, laundry rooms, bike parking, a courtyard, a roof garden, and resident services provided by Mission Housing. The ground floor will have a community-centered space available to residents and nonprofit organizations.

“What a massive win for the community that we are able to celebrate affordable housing on this site rather than market-rate units far beyond the reach of Mission District families,” said Supervisor Hillary Ronen. “I worked hard with my predecessor David Campos to ensure this vacant parcel would be used for the kind of housing my constituents really need.”

“The entire Mission Housing Development Corporation family is honored to break ground on our first new affording housing development in almost 15 years,” said Sam Moss, Executive Director of Mission Housing. “It’s been a long, difficult road back but to finally break ground and start building new affordable housing makes all the time, blood, sweat and tears worth it. The affordable housing project that is 490 South Van Ness does not get done without the collaboration of several partners and a dedicated team of Mission Housing staff members. I am grateful for everyone’s tireless work and passion for the people of our community.”

“San Francisco is in a housing crisis that is driving up rents and resulting in displacement of our low and middle-income communities across the City,” said Mayor Breed. “Projects like this one are the direct result of the City stepping up to create the affordable housing that we desperately need.”

“We’re honored to be part of the team that’s bringing affordable family homes and community services to a neighborhood that has seen so much displacement,” said Cynthia A. Parker, President and CEO of BRIDGE Housing.

“This site will go a long way to help working families and low income households afford to call San Francisco ‘home’ thanks to an incredible public-private effort to maintain affordable housing options in this booming economy that risks displacement of our most vulnerable residents,” said Liz Minick, San Francisco – East Bay community executive, Bank of America. “In the heart of the Mission District and just two blocks from public transit, residents at the future 490 South Van Ness can access and be part of the City’s vibrant economy. Bank of America is proud to have provided $56.5 million in financing, including a $32 million construction loan and $24.2 million in a Direct Equity investment to help make this vision a reality for San Franciscans.”

Over $27 million in financing is being provided by the San Francisco Mayor’s Office of Housing and Community Development. Additional sources of funding include the San Francisco Housing Authority (Project-Based Section 8 vouchers), Bank of America, Barings, U.S. Department of Housing and Urban Development, the California Tax Credit Allocation Committee and the California Debt Limit Allocation Committee.