The San Diego Foundation announced a $10 million commitment to seeding an initiative that will accelerate the production and preservation of equitable, sustainable, and community-focused housing.
“Housing availability and affordability are crippling our economy, causing current generations of San Diegans to slip into poverty and homelessness, and forcing future generations to leave,” shared The San Diego Foundation President & CEO Mark Stuart.
The foundation partnered with San Diego County Board of Supervisors Chair Nathan Fletcher and the County of San Diego, and aims to raise $100 million for a Housing Impact Fund. According to Stuart, this will be achieved through partnerships between local governments, philanthropists, and private companies.
Fletcher said during the State of the County Address that the county is “taking swift action to convert underutilized county-owned land in urban areas into housing.” The county will begin on 1,000 new homes and aims to create 10,000 housing units throughout the county.
In the coming weeks, The Foundation will work with San Diego County, LeSar Development Consultants, and other community leaders to create a plan that combines available government-owned land, philanthropic resources, state and national funding, and creative developers and home builders to work together to create the plan.
Stuart said the project would provide housing for “nurses, teachers, technicians and other working families.
“The San Diego Foundation was founded by people who love San Diego and believe in inspiring enduring philanthropy and enabling community solutions to improve the quality of life in our region,” added The San Diego Foundation Board Chair Steve Klosterman. “We are a community asset and partner who stands ready to work with the county, city, corporate and philanthropic leaders to advance affordable housing in San Diego.”