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San Diego providing $15.4M in gap financing for 400 low-income apartments

San Diego providing $15.4M in gap financing for 400 low-income apartments

San Diego will provide $15.4 million in gap financing to support five low-income housing projects, including 96 units for formerly homeless individuals. This funding is part of the Bridge to Home program initiated by Mayor Todd Gloria. The money comes from federal funds, sales proceeds, and state housing allocation funds. The previous two waves of funding supported 937 apartments, including 272 for formerly homeless individuals. The new projects will be located in Hillcrest, City Heights, Palm City, Pacific Beach, and Clairemont.

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