SAN DIEGO, Calif. (KGTV) – More affordable housing is coming to San Diego. The city announced the “Bridge to Home” initiative will provide $15 million in gap financing to help builders complete affordable home projects faster.
This funding is part of Round 6 of the gap financing program. The city says it’s already invested nearly $108 million to get 2,148 affordable homes built more quickly.
The city is now receiving proposals for how developers would use funding to create low-to-moderate-income units. Each recommended project is subject to City Council consideration and approval.
421 of the homes available through the program since 2021 come with support services for those at risk of experiencing homelessness. 140 homes are occupied, with another 595 currently under construction. Construction on an additional 47 homes will start in August.
