>> i want to welcome to grand opening strt. this beautiful building right up here. this is 18 stories of hundred affordable housing. happens to the tallest affordable housing in san francisco. our tallest building in ou portfolio and it is a modern sleek building aneryone who was involved in the process and all the people who live here.

we will ceatthis accomplishment today, but we can't do this without llaboration from some of our e partners here. is includes sharmain curtis curtis development [applause] the mayor office. swinerten construction. bank of america. [applause] techs. l hsa and many others. [applause] traditionally we hold a ribbon cuten ceremony when the building is fully occupied. that means today we have 203 families and individuals who are living in is wonderful building transportation, shopping, restaurants, and cultural institutions like museums and yerba buena gardens. that's the heart of what we are here to

celebrate. at this time, i want to invite my co karmainting mont and sh to come up and talk about the story how we got to this building and ha special about 921 howard. ] >> thank you so much roxanne. m sopleased to be standing here besides sharmain. many may i worked at tndc a long time and started leading the development has been germinating a long time, and sharmain was my in navigating our way forward to get to this place today and grateful she is our codeveloper on this project. so, little about the story how we got to this place today. as many know, soma had a lot of

market rate development and are a lot of delylopment, but little to no moderate income development, d me we were conceiving this development there was a lot of call for more income housing and 921 howard k to tndc and kurting development perseverance afrdable tment prong housing as a broad range of income levels. this unique we serve folks witho income and moderate income supported by the california housing ncagency. it is also located across the street from the lopment and benefits from all of those e outdoor amenities. contributing to a balanced community. grateful to the mayor's office of housing and community lor eadfast support over the years as we pursued upzoning through the central soma an and assembled financing. the re especially grateful to planning department, including

steve wartime now moved on and doing gre state legislature. through the central soma plan, substantially itwas zoned to support 175 homes in a 8 story building and today are delivering 203 homes in the first phase and the phsee on the side of the street that fronts howard is schedu be developed with anothe 230 homes. also one of the most cost effective affordable housings i. it has a cost effective design, thank you perry architects and tal development cost 10 percent then typical affordable housing and this despite the fact it took years to assemble financing. part of how we were able minimize that acquisition carrying cost is fortunate a philanthropic tech donor wanted to support moderate income housing in he chose to invest

through us and through the san francisco housing accelerator fund. so, we are grateful to many that helped along the way, including the housing accelerator find and the very beginning, enterprise and state supported transit oriented affordable housing program. grfuon and perm lender to bank eric who made the bigest loan taken tax cut investment. grateful to cal hsupport the middle income component and grateful to the mayor office of housing com development. with that, i like introduce sharmain. [applause] thank you katie. so, katie gave all the facts, which arreal good and important facts, especially around the middle income paf this project, which i'm passionate about personally. i will go more philosophical.

it has been an honor and privilege to work with tndc the past decade plus. we won't say exactly ny years and to partner with them on the development of this g project. particularly grateful to katie and to don falk who us lead the charge when was hard to see light at the end of the tunnel because we had a ps and downs and setbacks, but d. lord knows we persevered and as the kids like to say these days, we been through it. it was worth it to get to this moment. i love we celebrate stones throughout the journey starting with e we do the symbolic turning othf soil and topping write the name on the steel beams the top beam and finally the grand openingiseais opportunity to recognize the

small army of people and it is. if you the e business it is hard to describe the number of folks involved getting a building built. workers.g all the hundreds, if not over a thousand people. it is just a lo wk. i especially love the grand opening because this is what it is out this is why we do the work, because there are t now over 200 households living here. folks who may struggled tofind affordable housing in san francisco over retain affordable housing in san francisco the years, and now they are in a safe place where they have affordable housing really in purpitutety becathhow is the city structures the project. ch ilding feels like a miracle, it really does. a is just-the feeling of building built, whether you are building with own hands like mike and swinerten folks us behind desks and on calls it an feeling

of accomplishment to make something where there was nothing. i think housing and afforbl housing and sufficient supply of housing is really kind of one of fundamental issues of our time, and so we did a lot more miracles like 921 howard to happen. i just want to shout outs too, i want to say names becaus in the trenches with e folks. planning it department, without them wouldn't have [indiscernible] the swinerton team, sarah, austin, gabby, samantha, mike, shawn and lovely boss minute, jaxson peak in a and ester who manage on the tndc side.

perry architects, dirk is he is on vacation. amazing architects and highly recommend them and theydgreat team of engineers and consultants who worked to happen. our construction manager andy larsson isn't here t bruce and amy are here. they helped so much with permitting and also just great people to work with. t not least, people who are not here, our financial consultants attorney california housing ner [indiscernible] they are behind the rk of and unsung heroes of e building affordable housing in the bay area. ment with that, i'll turn over to supervisor matt dorsey. [applause] you so much. it is a honor to represent 6. this is a neighborhood where the housing we arilng is really something that is a blue print what san francisco will a lot like in the years to come and now we have a

housing element where wear hook and we made a commitment we will produce 82 ousa units of housing over the next housing element cycle, this is an example of the kind of housing we need. it is an honor torupt re district 21 century urbanism could be. there is a lot to thank and dont want the list and there is one person i want to thank, mayor reed to the leadership she is bringing to housing in the city two years ago i joined the board or little over 2 years and elected in the november election but there was a early 1 mayor breed interviewing people who would be her appointee. i had a lot of opinions what wanted to do involving police staffing and recovery from drug addiction

and issu and i'm a member--i thought i was a housing nerd and london breed was putting me through pacing where i stand onthis and what--this is somebody who really sweats on housing and cares about it because she knows what a big difference make. in the life cycle of projects, i always love to coto these with ground breakers and different kinds of things. for those who have been th me at ground breakering, i always complain if i get a hard hat and shovel and vet. i'm a gay supervisor so want the construction gear. i like the drag and whole thing. ththing we are here to celebrate, i was a great point made. we are celebrating there is more then families who lives are improved because of what we are doing. important obably the thing we can celebrate is what we have accomplilet'shikeep doing it. thank you to mayor london breed

leadership and continued leadership. thank you everybody for your partnership on and a lot has to do with the financing and for that i'm introduce from cal hfa, the rece winner of the [indiscernible] crbusiness journal--i was saying earlier, i will look on google find a obscure thing to say, so please welcome, irwin tam. [applause] >> wow, that is-thank you so much. i guess i do appear [laughter] i am excited to be here. excihave taken the s on the subway and walked woblocks to get here and stopped for a cup of coffee and that oeto show how important housing is and how important affordable housing is that being developed closer to public transit and amenities we have here. as supervisor said, i'm irwin

director of financing. we heard about the facts. heard. i guess i calkabout the numbers. people are excited about that. of all, cal is the stat affordal housing lender and under leadership of tina hall and isis delivering housing for low and income californians state wide by working to. when of the organizations we work closely with is the mayor office of housing and community development. not only on this project, but also work in njunion with apple and the mayor's office to on the bond recycling program and to date delivered additional $250 miion tax exempt bonds, which otherwise ued, accept for this partnership. we are really proud that relationship with the ma'sice of

housing community development. this ecsfund through our mixed income program and again, to date, we have delivered over of subsidy funds across the state which resulted in all most thousand units for low and moderate income californians is a prime example of the inclusive are trying to create for again, low and moderate income californians. we would again like to thank ma office, tndc, bank of america, and the state treasurer office for this financing scr to turn it over now to lori dunn. i didn't google you before hand. [applause] >> good morning. my name is lori dunn the vice president division manager for swinergon

in the bay area. this has been an amazing journey. we feel fortunate to weare a community builder and o. we really appreciate the opunly construct a beautiful building,s but to also be giving back to the community. we know how important this project is to tndc, and to mayor breed and we consider ourselves lucky to have been a partner. we see this project as very rtis ssful project with tndc development, perry architects and all our subcontractor trade again, thank you for the opportunity. we are so excited to be able to is beautiful project. [applause] >> hi, everyone. be here today and without fail,

no matter how can feel the sun always comes out for thes amazing opportunities. bank of america founded in the great city of san francisco in 1904 and our purpose is to make financial lives better. wree do by supporting the building of clitie and creating economic opportunity for livable neighborhoods just as are seeing here today with this glorious new building. last year oucommunity development banking group $7.85 billion across the united states creating housing units ecomic opportunity. these funds created over 13 thousand units of affordable housing and homes for families, seniors veterans formally homeless and those with special lf bank of america is proud to be a public private partnership with

tndc, curtis development, mayor office and city and county of san frand cal hfa. i will thank all the same pe we are thanking today. the mayor office, cal, tndc, kurting development and bank of teammates, many of whom were able to join me today. thank you all. [applause] sods we are still waiting for the mayor to arrive and luckily, i ng to talk to you about very important state and local aswe ke you to support. [laughter] as we all know, it is critically impot couple both local investment and state investment affordable housing like 921 howards. while we have a you irwin, we w to express how grateful we are the state, the legislature for putting prop 5 the ballot.

prop 5 who don't know and hopefully learning more up to november 5 will be lowering the voter threshold for local bonds for things like affordable housing an infrastructure like schools, parks, open space, public health and public transit. the state has been doing its part to make it easier for localities to raise funds to support affordable housing so please do your part and vote for prop 5 on november. this along with previous enabling legislation that allowed for the creation of regional financing authorities like bay area housing finance agency, which serves 9 county bay area, really set the stage for another important measure you will see on the ballot in noer known as regional measure 4 also known by

people in our field as the bo bond, the bay area housing finance agency. this bond will raise $20 billion, 2.4for the city and county of san francisco. we need voters throughout the whole region to vote for this measure, and we of you to please do your part to speak about this to your friends, m networks and are to participate in which ever wto support the passage of the measure. it is critically important to our ability and city of san francisco as a whole to fund the pipeline it has and see and develop new affordable throughout our community. that's what i got. r] [applause] thank you. we are gratefyoare all here. we hope the mayor has her opportunity to thal nk and you have the

opportunity to thank her and we thank you. again, i will--roxanne to send you off ow five minutes? oh, okay! what? that's what we h. the pole toss is coming. this will be and my--i were talking what he learned and his experiences po be ready to be a supervisor. i don't know share your story, matt? [laughter] i'll share. i'm juskilling time. matt was sharing if it is that he spent some time as a city to spokesperson and had the fun job addressing thpublic about the cases the city were not winning.

it is a hard job to be a supervisor. not everyone isme and you have navigate you know, all those constituencies. d i am now public speaking more then i have in the past and learning how to roll with the moment. i will say one other thing then i is celebrating one of the biggest fund razors of had year. we have two big events.is calle. it is held september 26. t is an iconic san francisco event. it is real ea fun. it is at the phoenix hotel a institution in the tenderloin you should support. it has a great cocktail bar and pool and invite friends there they come to down and been a pporr hosting this event. they are our neighbor.

we are developed 555 larkin. 108 homes serving families in the in d they have been a great neighbor and partner to us as we move through the pld design and then execution that building. we had the privilege enin that building earlier this year, and the pool toss, we have a web page and you can donate. i think we are up to 5 or 6. and so rebecca foster who leads the hoaccerator fund and i mentioned her was involved in supporting this project is one of our tossees. yes! tickets and sponsorships are [laughter] yes, there is actually a lot jy food from local businesses. much that food tually doinated to us i believe and we have a fun bar, but just drink one or two. dont get drunk on the job.

you can ch■2out our website. tickets are available now. [laughter] perfecto! mybofa think she wants to spiel? maybe i'll it as she walks in. redo over? okay. great idea roxanne will do that. >> a lot us officials dignitaries are up here talking but i want to e so of our staff that are back here in the back. raise your hands ifwork at this building and work at tndc.appre one of you guys. yes, thank you. [applause] you're what makes this happen. after it is built d have the ribbon cutting you make the ccess-foot successful so thank you all for coming.

jackson is here too? thank you. shrea.yes. i think the mayor's here now. i'll stop. >> yes, to echo what roxanne saidthe development team can build a beautiful building whatin e lives of the people that live in it is the experience every day with property management and services and pleased to introduce to you, mayor london [applause] >> alright. i better late then never, right? i got say, when i am able to come to events like ground breakings or ribbon cuttings, what always see is all the hard work that goes into making something like ossible. all the various teams and

organizations toputhe financing together. the hard work that goes making sure neighborhood preference is a priority and project like this we are very intentional about outreach to insure families struggling the most have access to a place like this. it is really very rewarding to walk through these doors, ally after being at the ribbon-i mean th ground breaking on the site and lori from swinerton was there with along witr foks. supervisor, i don't think you were there yet. we were mising you though. were there breaking the ground and talking about the significance this will mean for families and really trying to op up the pipeline for families who are just a above t bu middle income and we are making

tat to qualify for affordable housing. to have this project go up to 120 percent ami is incredible and really exciting, and this is one of the biggest projtsthink we ever built from mohcd. thanks the voters for passing all most a billion dollarinbonds, w were able to us$39 million dollars and state and other resources. the other person always at me with these various openings and ground baking is liz from bank of americaism thank yoso much. [applause] for being here, and for your continuous support. but i am also very about welcoming and finally someone an african american led and owed business, a woman in particumain

curtis from curtis development because that often doesn't happen with thoject. it is so meaningful and thank katie and tnc many who helped put the pieces of the puzzle together to truly not only success, but a inspiration for the people we are trying to serve. it is amazing building, a beautiful neighborhood and what we are d downtown, bringing more people and families to downtown and making sure th there are amenities and support and are there is housing security. that's what this project is about. that's why i'm so happy to be here addingmoour portfolio. we need more and more and and now with not only which will make everything that is following whatever the rules are as of right, so we can get more housing built, but sta

regional bond, what is it called now? bofa. what number is it? four. to deliver even more ojects like can do this faster. we have a number of projects that are waiting in nefor these resources and can you imagine with 50 thousand units already approved san francisco, 50 thousand housing units in the san anpipeline what that would do fwr housing affordablet in the city it would be a game changeer and thisdoing with new housing policies and getting to yes and making magic like this project happen so happy and grateful to be here. u to all involved and congratulations to the new families who have oppounity for a safe affordable place to call home. thank you. [applause]

>> starting with 4, 3, 2, 1! ■h■8

it is 2:42 you can sdart the meeting. thank you. good sxoon welcom t art's committee on wednesday august 21, 2024. the mote to order.