San Francisco’s affordable housing complex secures construction loan

Merchants Capital recently secured a Merchants Bank of Indiana construction loan for the development of 53 Colton Street, an affordable housing complex currently under construction in downtown San Francisco.

Located in Mid-Market one of San Francisco’s fastest growing neighborhoods, 53 Colton Street will provide 96 affordable and supportive efficiency studio apartments to formerly homeless adults. All units will be reserved for residents referred through the Coordinated Entry System.

With groundbreaking expected this winter, the structure and design of 53 Colton Street will focus on meeting the everyday needs of a supportive housing community, while simultaneously creating a residence that is beautiful, sustainable and cost-efficient. Each of the 96 studio units will be equipped with a private bathroom and kitchenette. Building amenities include common areas, a community room with dining area and kitchen, a bike room, common laundry facilities and a private landscaped courtyard.

The building is designed by David Baker Architects.

The development is expected to be completed by the spring or summer of 2022.