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keeping the mission a neighborhood of opportunity

MEDA Purchases 2205 Mission Street Property as Neighborhood Anchor

Exciting news! MEDA has closed a deal for the purchase of 2205 Mission St., a vacant building anchoring the corner of 18th Street. This will provide much-needed infill building along the Mission Street corridor, with construction slated to commence at the end of 2019 and an opening in mid-2021.

The current plan is to build 40 units of below-market-rate (BMR) affordable housing. As 50 percent of for-purchase units will be two- or three-bedrooms, the space needs of families will be met.

Explains Community Real Estate Director Karoleen Feng of the addition of 2205 Mission St. to MEDA’s growing affordable-housing portfolio of 1,094 units, “Our nonprofit started its First-Time Homebuyers program in 2000, predating the creation of our Community Real Estate program in 2014. These clients are looking to buy and create permanent homes in the City, so 2205 Mission St. affords the opportunity for them to do so.”
 
See current property portfolio

 
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¡VIVA MEDA! a Big Success
As 300 attendees were greeted by the mellifluous sounds of a 12-person mariachi band, ¡VIVA MEDA! got off to a rousing start on Oct. 19. The venue was the San Francisco Design Center.

Thirty-three valued sponsors generously made this gala possible. (See list of sponsors at bottom of this email). Our work helping the low-income immigrant community would not be possible without such sponsorship.

“My family’s experience is not that different from the over 7,000 people MEDA serves yearly,” explained MEDA's Executive Director Luis Granados in his welcome address, optimistically adding that the Latino community is resilient and will persevere despite recent challenges. 
 
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Adelante Fund Capitalization
The preservation of small businesses and affordable housing in the Mission District is a key part of MEDA’s strategy to keep this a neighborhood of opportunity. In the highly speculative real estate market, MEDA is twinning real estate acquisition with an acquisition fund through our Adelante Fund to move quickly to purchase and preserve market rate rent-controlled housing as affordable housing. The centerpiece of that strategy is San Francisco’s Small Sites Program, started in 2015.

To generate deeper impact, MEDA is seeking to scale its Small Sites Program purchases, with Adelante Fund providing the acquisition financing to address two recurring challenges: closing time and cost of capital.
 
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In the News, So You're in the Know
Citi Foundation Blog (with video)
Impact, Pivot, Repeat: Community Progress Makers on Meaningful Support and Meeting Our Cities' Toughest Challenges

Mission Local
Neighborhood Notes: HOMEY Returns

Salesforce Blog
Three Nonprofits Accelerating Impact in the Latinx Community

San Francisco Chronicle
Building's New "Communal" Model: Homes for Families, Mission Dance Company

Read more of MEDA's 450+ media mentions since 2014 on our press page.
 
2017 Client of the Year: Alicia Villanueva, Alicia's Tamales Los Mayas
Alicia's TamalesWhen Alicia Villanueva came to this country from Mexico a decade and a half ago, she wanted to introduce her favorite food: tamales. During holidays back home, the family would converge in the kitchen to share some laughs while they made plenty of this traditional dish.

Once in California, the business model of Alicia’s Tamales Los Mayas was selling door to door. This translated to about 100 sales per week — a good start, but not enough to sustain her family.

Things picked up when she accessed MEDA’s free Business Development program and an Adelante Fund loan that helped Alicia open a plant. This led to an ever-increasing amount of tamales being sold each week, and she was able to hire 18 employees.

Today, she sells 40,000 tamales a month via a catering and packaged-foods model. Additionally, Alicia’s tamales will be in Whole Foods soon.

Alicia represents the entrepreneurial spirit of Latino immigrants who come to this country seeking a better life.

Read more inspirational client stories >>.
 
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Mission Economic Development Agency
2301 Mission Street, Suite 301
San Francisco, California 94110
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