Preventing Evictions And Increasing Affordable Home Ownership In San Francisco

Model and Strategy

Market pressures are forcing the displacement of lower-income residents, organizations and small businesses from the city — the very people and institutions that made San Francisco the vibrant and diverse city we all know and love today — an irreversible loss. SFCLT preserves the existing community fabric by not only purchasing existing rental housing at-risk of losing its affordability, but also converting them into housing cooperatives in which the existing tenants become "owners". Research shows that increasing ownership results in increasing household economic stability, longer tenure, and deeper community engagement, including voter turnout. SFCLT is the only organization creating an alternative form of affordable homeownership in San Francisco. Expanding SFCLT's model will expand the benefits of ownership to more residents earning 50% to 120% of average median income (AMI) — 30% of SF's population who are currently not served by either the private market or publicly subsidized housing.

Impact

Acquire at least 50 rent-controlled apartment units in which low-income residents are at risk of no-fault eviction (e.g., Ellis Act)

Convert 4 rent-controlled apartment buildings into affordable housing cooperatives in which the existing lower-income tenants (up to 120% AMI) become "owners" through shared-ownership

Ensure that at least 100 housing units in SFCLT's portfolio are kept permanently affordable with on-going financial and leadership development training from SFCLT

Ensure that San Francisco's neighborhoods are more stable in a way that preserves the diversity of class, race and ethnicity

San Francisco Community Trust