San Diego announced $16.5 million in new Bridge to Home funding to help affordable-housing developments close financing gaps and move toward construction.
The award combined $12 million in redevelopment funds with $4.5 million from the state's Permanent Local Housing Allocation program. Earlier Bridge to Home rounds had committed $123 million toward 2,676 affordable homes in 28 projects.
Local subsidies are typically one layer in a complex financing stack. Their practical value is measured by whether projects secure the remaining tax credits, loans and grants needed to begin building.