The Salvation Army San Francisco Silvercrest Residence- San Francisco, CA

DGI in conjunction with Hill & Associates, provided project management and financial structuring assistance to The Salvation Army. The project was refinancing an existing HUD 236 Mortgage, decouplied the IRP, marking up and extending the Section 8 HAP, and securing bond and 4% LIHTC allocation to support the planned renovations. The property was fully renovated and provides housing for 254 low income seniors in San Francisco.

Client/Partner:  The Salvation Army

Total Development Costs: $38 million

Funding Sources:  Private-sector tax-exempt bonds, 4% Federal LIHTC, Federal Home Loan Bank AHP