Affordable Housing Program grants will support new and preserved housing in San José, San Francisco, and Oakland
FOR IMMEDIATE RELEASE
Community Vision has partnered with Federal Home Loan Bank of San Francisco (FHLBank San Francisco) to deliver a total of $5.95 million in Affordable Housing Program grants to Abode Housing Development, Chinatown Community Development Center, and East Bay Asian Local Development Corporation.
The grants will support the creation or preservation of 225 affordable homes in San José, San Francisco, and Oakland, expanding access to safe, stable housing for individuals and families across the Bay Area.
“Meeting California’s housing needs takes collaboration across the public, private, and nonprofit sectors,” said Catherine Howard, President of Community Vision. “These Affordable Housing Program grants demonstrate what’s possible when mission-driven financial institutions and community developers work together to invest in long-term housing solutions. We’re honored to partner with FHLBank San Francisco and our development partners to help make these projects possible.”
AHP grants contribute to the development, preservation, and rehabilitation of single-family and multifamily housing for people with low incomes and others facing barriers to stable housing. This includes families, seniors, veterans, people experiencing homelessness, at-risk youth, people living with disabilities or mental health challenges, and people recovering from substance use disorders.
FHLBank San Francisco’s member financial institutions work in partnership with community-based housing developers to compete for AHP General Fund grants by submitting applications for specific projects in an annual funding competition. In total for the 2026 program cycle the Bank’s AHP awarded funding for 45 affordable housing projects, including 34 in California, five in Arizona, and six in Nevada.
The awarded projects include:
- Abode Housing Development – Algarve Community Apartments (San José): $2 million grant. This new eight-story, transit-oriented development will create 90 affordable homes, including 60 reserved for formerly homeless households. The project includes Veterans Affairs Supportive Housing vouchers for eligible residents and improvements to the surrounding neighborhood such as new sidewalks, street trees, bike parking, and streetlights.
- Chinatown Community Development Center – 1303 Larkin Street (San Francisco): $2 million grant. This rehabilitation project will bring 67 affordable homes to seniors in Nob Hill, adding five new apartments, converting existing Single Room Occupancy (SRO) units into studio and one-bedroom homes with in-unit kitchens, and upgrading shared community spaces while preserving long-term affordability.
- East Bay Asian Local Development Corporation – 430 Broadway Building A (Oakland): $1.95 million grant. This development will create 65 affordable homes for very low- and low-income seniors, including 17 permanent supportive housing units for seniors experiencing or at risk of homelessness. The project is the first phase of a larger redevelopment that will ultimately create more than 400 affordable homes on Alameda County-owned land.
“Partnerships like these, including Community Vision and local developers such as Abode Housing Development, Chinatown Community Development Center, and East Bay Asian Local Development Corporation, are essential to increasing the supply of affordable housing and improving access to housing across the communities we serve,” said Tom Dapice, Community Investment Officer at FHLBank San Francisco. “By working closely with our members and their community partners, we are able to support financing that helps bring new housing to market and preserve existing homes, expanding opportunity and helping ensure more individuals and families can afford a stable place to live.”
To date, Community Vision has partnered with FHLBank San Francisco to award over $15.6 million in AHP grants, supporting the creation or preservation of 913 affordable homes across the Bay Area.
For more information about the 2026 AHP General Fund winning projects, visit FHLBank San Francisco’s website at fhlbsf.com.
Media Contact:
Matias Bernal
Vice President of Development
415-392-8215
mbernal@communityvisionca.org
About Community Vision:
Founded in 1987 as the Northern California Community Loan Fund, Community Vision advances community ownership of community assets across California. Through lending, advising, and partnership, we support nonprofits and community-rooted organizations in securing the spaces that help communities thrive and build long-term stability. To date, we’ve invested more than $672 million in financing, leveraged over $3.4 billion, and distributed more than $39 million in grants. Community Vision is a nonprofit community development financial institution (CDFI) and an Equal Opportunity Provider.
About the Federal Home Loan Bank of San Francisco:
The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — propel homeownership, finance quality affordable housing, boost economic vitality, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant and resilient and changing lives for the better.
