Apartamentos de la Esperanza is a 39-unit senior property built in 1979 in San Francisco's Mission District. Impact partnered with Mission Housing Development Corporation, a legacy San Francisco affordable housing developer, to complete more than $120,000 per unit of hard-cost construction.
Impact guided Esperanza through a HUD Section 236 loan prepayment and Mark-to-Market, maximizing the financing available for a full rehabilitation. Every unit was remodeled with new cabinets, countertops, flooring, paint, and lighting and plumbing fixtures. The community room and its full kitchen were reconfigured to support resident service coordinators from Mission Housing.
Upgrades reached every building system, from life safety to elevator modernization to new windows, and the project earned a GreenPoint Rating for energy efficiency well beyond program requirements. Impact provided predevelopment funds, construction and operating guarantees, and transaction coordination.