From Affordable Housing Finance:
Forty-three people who were homeless have moved into The Beacon, a new supportive housing community in downtown San Diego.
The new development is the latest project from nonprofit Wakeland Housing and Development Corp.
“The Beacon is really about bringing a sense of hope to residents,” said Wakeland president and CEO Ken Sauder. “Those of us who have a home may not understand the factors that lead people to become homeless or how long the road is to get back to that feeling of safety and comfort that we take for granted. The Beacon is the place where they can start again.”
“To solve the homelessness crisis, homeless people need a home,” Sauder continued. “The Beacon does that.”
Residents are supported by case managers from one of three providers—Father Joe’s Villages, MHS CityStar, or Pathways Catalyst—who connect them to services tailored to their unique needs, including behavioral health support and care; care coordination; educational, health and wellness, and skill-building classes; and peer support.
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Financing for the $19.9 million development came from several sources, including more than $10.6 million in low-income housing tax credit equity from Wells Fargo Bank. The San Diego Housing Commission is providing 43 project-based Section 8 vouchers.
Read Affordable Housing Finance's article "Wakeland Opens Supportive Housing Development in San Diego," featuring the San Diego Housing Commission.