Housing Preservation Pilot
BAHFA's Housing Preservation Pilot preserves affordable housing and protects residents by assisting mission-driven housing developers to acquire and rehabilitate residential properties which are then converted to permanently affordable housing.
The Bay Area Housing Finance Authority (BAHFA) was created to help solve the Bay Area's housing crisis through the action of the 3Ps: produce new affordable housing, preserve existing housing that is affordable to lower- and middle-income households, and protect vulnerable residents from displacement.
BAHFA established the Housing Preservation Pilot with Regional Early Action Planning (REAP) 2.0 funding from the state of California to help mission-driven housing developers achieve preservation and protection goals.
The program provides low-interest loans to nonprofit developers and community land trusts to acquire and rehabilitate residential properties occupied by low- and moderate-income residents. These properties must also be located in communities that achieve equity and climate goals.
Funding Application Now Open
BAHFA is accepting applications from eligible applicants for $8.9 million in preservation loans. Review the Funding Application Notice and apply through the Housing Preservation Pilot Application Portal.
Applications will be accepted on a rolling basis and processed in the order they are received until all funds are committed. Eligible projects received within 5 business days of each other will be evaluated and scored based on impact towards state and regional policy goals, readiness, experience, resident engagement and cost effectiveness.
Funding Information Session
A virtual information session for interested applicants was held on June 13, 2024.
Staff Contact
Somaya Abdelgany
Phone: 415-778-5217
Email: [email protected]