New Affordable Housing Project in San Ysidro Benefits from Two Innovative City Programs
Nonprofit affordable housing developer National CORE has broken ground on a project in San Ysidro that took advantage of two of the City’s programs designed to help 100% affordable housing projects get built more quickly.
This project, Iris at San Ysidro, was one of the original seven projects to be awarded funding under the City’s Bridge to Home program, which invests City dollars directly into affordable housing projects to close their financing gaps and help them get across the finish line. Iris, which includes 99 affordable rental apartments for San Diegans with low-income -- including 15 homes with supportive services for San Diegans currently experiencing homelessness – received $5 million through Bridge to Home.
Iris also benefitted from a newer City program that my administration launched earlier this year – Affordable Housing Permit Now. Created by an executive order I announced at my State of the City address last January, this program requires 100% affordable housing projects to be reviewed within 30 days.
As one of the first projects to benefit from both of these programs, Iris at San Ysidro symbolizes this City’s steadfast and action-oriented approach to addressing our housing crisis. Building more homes that San Diegans can afford is key to tackling our most daunting challenges as a city. Building more homes for all income levels is the only way to lower the cost of housing and put more hard-earned dollars back in the pockets of working San Diegans.