Mayor Edwin M. Lee today announced the award of four predevelopment loans to support the creation of up to 529 affordable rental homes for San Francisco’s low-income and homeless families and seniors.

The nearly 11 million dollars of loans will be made with funds from the voter-approved 2015 Affordable Housing General Obligation Bond to expand opportunities for low-income San Franciscans. These predevelopment funds will jumpstart the construction of over 500 affordable housing units, adding to the ongoing effort to achieve Mayor Lee’s goal of constructing or rehabilitating 10,000 homes affordable to low-income San Franciscans by 2020.