City Council Reviews Affordable Housing Fund Report; Downtown's Jacaranda on 9th Among FY2026 Completions

The San Diego City Council is set to review the Affordable Housing Fund Fiscal Year 2026 Annual Report on Monday afternoon, an informational item that tallies revenue, expenditures, and outcomes from the city's two primary affordable housing funding streams — the Housing Trust Fund, established in 1990 and funded by commercial development linkage fees, and the Inclusionary Housing Fund, created in 2003 and supported by fees from residential developers.

Since their inception, the funds have assisted approximately 31,815 households experiencing homelessness, created 10,028 affordable housing units, preserved 422 existing units, and helped 414 first-time homebuyers, according to the report prepared by the San Diego Housing Commission and presented to the SDHC Board of Commissioners on September 11.

Five rental developments funded in part by the Affordable Housing Fund completed construction during the fiscal year that ended June 30, 2026. Among them is Jacaranda on 9th, an 87-unit affordable apartment building at 901 Beech Street in the Cortez Hill neighborhood of downtown San Diego.

Developed by Community HousingWorks at a cost of $44.6 million, Jacaranda on 9th replaced a long-vacant hotel with 79 one-bedroom and 8 two-bedroom apartments reserved for households earning between 25 and 40 percent of the area median income — roughly $28,950 to $52,950 per year for a two-person household. The San Diego Housing Commission awarded 14 federal rental vouchers to the development for residents who experienced chronic homelessness and 73 vouchers for extremely low-income tenants. Units will remain affordable for 55 years.

The five-story building, which won the San Diego Housing Federation's 2026 Ruby Award for Project of the Year in the new construction category, is located within walking distance of grocery stores, pharmacies, and Balboa Park.

The other four developments that completed construction are Iris at San Ysidro (101 units, District 8), Grant at Mission Trails (47 units, District 7), Navajo Family Apartments (44 units, District 7), and Serra Mesa (59 units, District 7).

The report, listed as Item 200 on Monday's council agenda, is informational only and does not require a council vote. The council's main business this week comes Tuesday, when a public hearing is scheduled on the proposed switch to a unitary water rate following the Patz v. City of San Diego court ruling that found the current tiered system violates Proposition 218.