Seed funding of $10 million is largest grant in Foundation’s 47-year history
The San Diego Foundation today announced a $10 million commitment to seed a new San Diego Housing Fund that will help accelerate the production and preservation of housing that is equitable, sustainable and community-focused, while supporting good jobs.
“Housing availability and affordability is 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. “We have partnered with Chair Nathan Fletcher and the County of San Diego to advance this initiative and are calling on corporations, foundations and philanthropists to join us in our goal to raise $100 million so our nurses, teachers, technicians and other working families have the opportunity to prosper, thrive and feel like they belong.”
“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 county, city, corporate and philanthropic leaders to advance affordable housing in San Diego.”
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 homebuilders to work together to build 10,000 affordable new homes for purchase throughout the San Diego region.
Lorena Nava Ruggero, The San Diego Foundation, 619-309-5179, firstname.lastname@example.org