Western Alliance Bank is providing $77.9 million in construction financing and Low-Income Housing Tax Credit equity for The Marvel in the Mission, the largest affordable housing development in San Francisco’s Mission District. At full buildout, the project will provide 400 units of permanent supportive housing at the intersection of 16th and Mission streets.
The lender will join Mission Housing Development Corporation, the Mission Economic Development Agency and community leaders on April 23 for a groundbreaking ceremony marking the start of construction on Phase 1 at 1979 Mission St., near the 16th Street BART Plaza.
“Sixteenth and Mission is one of the most storied intersections in San Francisco, and one of the most in need,” said Mieke Holkeboer, director, affordable housing finance at Western Alliance. “Mission Housing and MEDA have designed a community that offers more than housing. It offers stability, dignity and support.”
