Mayor Daniel Lurie on Tuesday, Nov. 10, announced $18.6 million in Proposition 1 Homekey+ funding to rehabilitate and operate 629 Post Street in Nob Hill as housing for homeless and formerly homeless veterans, the mayor’s office said. State Homekey+ records list the award at $18,684,520, The American Developer reported.
Why it matters: The 1920s building will have 63 units, including 44 permanent supportive homes and 19 VA-funded “Safe Haven” transitional units, the city said. Construction is slated to begin in early 2027, with Swords to Plowshares operating the project.
The city said the award includes $13.2 million for rehabilitation and $5.4 million in operating funds, plus money to support resident relocation during the work. The state’s awardee list, as reviewed by The American Developer, splits the same total into $13,225,000 for capital, $4,139,520 for operating costs and $1,320,000 in veteran operating support, and lists 44 Homekey+ units reserved for veterans.
“We have a responsibility to support those who have served and sacrificed, and this project will give more veterans in need a safe, stable place to call home,” Lurie said. The building was acquired in 2023 through the city’s Small Sites Program, and local agencies have already contributed more than $20 million, the city said. Related: Proposition 1’s passage in November.