St. Anthonys Foundation

San Francisco,
CA
(2013)

St. Anthonys Foundation

Community, Healthcare, Shelters and Community Food

The build-out of a new kitchen, dining room, clothing distribution center, food pantry and social work center.

Investment

NMTC Amount: $22,500,000
Total Project Cost: $23,148,797

IMPACT

52 FTE jobs
300 construction jobs
40,000 sq. ft. of real estate

CDEs

Bank of America, Low Income Investment Fund

Investor

Bank of America

Operating since 1950, St. Anthony’s Foundation (SAF) provides meals, social services and medical care to more than 1,600 poor and homeless people in San Francisco every day. LIIF provided SAF with a $10.5 million allocation of New Markets Tax Credits (NMTCs) as part of a $22.5 million transaction to build a new kitchen, dining room, clothing distribution center, food pantry and social work center. The facility is located in the Tenderloin neighborhood of San Francisco, an area with the highest concentration of poverty and homelessness in the city.

The new 40,000 sq. ft. dining room is 43% larger than the current space, enabling SAF to serve more than 3,000 meals per day. The expanded facility also includes new, enlarged spaces for SAF’s existing free clothing program, fresh food pantry and social work center, which will move to the dining center from another location.

In addition to the community facility space, Mercy Housing is separately financing the construction of an 87-unit affordable senior housing project above the dining facility. Bank of America provided additional NMTCs and the equity investment for the deal.

MAP

Address: 121 GOLDEN GATE Avenue, San Francisco, CA 94102

Census Tract: 6075012501

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