The Work

The Partnership for the Bay’s Future is where solutions-minded residents of the Bay Area come together to develop creative and effective responses to some of our region’s most formidable challenges. 

Currently in the Bay Area, housing affordability threatens to limit the region’s growth and resilience. A household of two full-time workers each making $15 dollars an hour can only afford to live in five percent of the region’s neighborhoods. And the housing affordability crunch is most acutely felt by Black and brown communities.

We take a two-pronged approach to move the needle on affordable housing–investing in the production and preservation of affordable homes and advancing policy change to protect residents who are already in affordable homes. The Partnership is therefore composed of a family of loan funds focused on increasing the supply of affordable homes in the Bay Area, and a policy fund that supports the creation and implementation of policies to stem the tide of displacement across the region.


Find Out More About Our Family of Loan Funds

The Partnership for the Bay’s Future family of loan funds supports the production and preservation of affordable homes in five Bay Area counties. Managed by the Local Initiatives Support Corporation (LISC), these funds are designed to address the lack of affordable homes—a reality that disproportionately impacts households of color—by bridging funding gaps throughout the region’s rental housing market. 

With a goal of investing at least $500 million by the end of 2025, the family of funds is focused on protecting the Bay Area’s most vulnerable residents and promoting the long-term economic success and racial diversity of the region. 

Financing made possible by the Partnership for the Bay’s Future’s family of loan funds — one of the nation’s largest-ever private-sector housing funds — is estimated to preserve and produce 8,000 units, as well as indirectly contribute to the preservation and production of other units in Contra Costa, Alameda, San Mateo, Santa Clara and San Francisco counties. 

The magnitude of the housing challenge facing the Bay Area — one that has only grown since the start of the COVID-19 pandemic in 2020 — demands a Partnership approach that is collaborative, responsive, and creative.



  • We seek input from others in the space to identify the best possible financing solutions.
  • We also partner with developers of all experience levels in order to provide them the technical assistance they need to get their projects funded and to help advance new developers – many of whom are led by people of color.



  • We listen and we respond to a wide range of current housing needs.
  • We solicit feedback from borrowers and partners and use this information to modify products so that we can consistently meet the needs of the constantly changing market. 


  • We demonstrate the viability of creative, community-based solutions that can fill the current gaps in affordable housing, be replicated, and scale within the Bay Area and beyond.
  • We support projects that may require a higher touch or more creative financing solutions.

The Partnership for the Bay’s Future includes a family of loan funds:

The Bay’s Future Fund

The Bay’s Future Fund consists of 5 products that support projects serving 0-150% AMI.

Terms offered include:

  • Competitive interest rate determined by AMI, loan term, and originator. Typical range of 4–5%
  • Up to $7.5M loan size
  • LTV up to 90–150% for high impact projects
  • Loan term must mature by 2030

The Community Housing Fund

The Community Housing Fund supports projects with at least 20% of its tenants at 30% AMI or below; Santa Clara projects must meet Measure A AMI definition.

Terms offered include:

  • 2% Interest rate
  • Up to $15M loan size
  • Up to 150% LTV
  • Up to 18 year loan term (latest maturity 2038)

The family of funds began with an initial investment by the Chan Zuckerberg Initiative. Additional supporters of the funds include Genentech, LISC, Ford Foundation, Corporation for Supportive Housing, Capital Impact Partners, Morgan Stanley, Kaiser Permanente, San Francisco Foundation, JP Morgan Chase, First Republic Bank, Silicon Valley Community Foundation, Destination: Home, and Facebook.


Find Out More About How We Advance Inclusive Policy For Housing

Bold policy change is needed to address our housing affordability challenges in a way that will benefit residents across the income spectrum, and ensure the economic resilience of the region.

As a regional collaborative entity, the Partnership for the Bay’s Future enables San Francisco, San Mateo, Santa Clara, Alameda, and Contra Costa counties—as well as the nearly 80 cities and towns they contain—to share ideas and develop cohesive policies aimed at protecting families and individuals burdened by high rents, and preserving and producing affordable homes in the region.

The Policy Fund works with community groups to help them bring the voices of renters, low-income residents, and people of color into conversation with governments at the local, regional, and state levels. The Policy Fund also provides resources and technical assistance to help local and regional governments create and successfully implement policies that enable more Bay Area residents to remain in their communities. The Policy Fund is guided by a diverse Advisory Board, which includes investors from the philanthropic and corporate sectors, public sector and policy experts, as well as community leaders.

The Policy Fund is led by the San Francisco Foundation and administered through two grant programs:

Challenge Grants for Protection and Preservation

These grants, awarded in 2020, are focused on protecting renters and preserving existing affordable housing. The Challenge Grant program provides additional capacity and expertise to grantee local governments, including a mid-career housing policy fellow, support for community partners to engage the local community in the policy process, and access to technical assistance from expert consultants. Learn more about the Challenge Grants:

Breakthrough Grants For Production and Preservation

Jurisdictions that have the potential to develop affordable housing at scale will be awarded grants and technical assistance, and convened to collaborate and learn together on shared challenges. Breakthrough Grants will be offered in 2021.

Find Out More About Our Working Groups

PBF Advisory Board

The PBF Advisory Board provides strategic guidance and input to LISC and SFF with implementation of the Partnership for the Bay’s Future Investment and Policy Funds. The Board brings together thought-leaders from across sectors and across the region to support transformative housing solutions, and coordinate strategy and collective action to shift the Bay Area’s long-term growth to a more inclusive path.

In collaboration with the Partnership, the Board works toward a shared region wide vision around increasing affordable housing and ensuring vibrant communities of racial equity and economic inclusion and aims to expand and protect the housing stability of up to 175,000 households in the next 5 years and preserve and produce over 8,000 homes in the next 5 to 10 years. The Partnership for the Bay’s Future and the PBF Advisory Board together further the knowledge, interest, and political will among a diverse and strategically selected group of civic leaders, housing developers, business and labor leaders, subject-matter experts, and other key stakeholders.

PBF Policy Working Group

Together we will deploy the resources—the financial, intellectual and political capital—needed to protect tenants, and produce and preserve affordable housing across the region, and provide support for the transformative policies needed to reach our goals.

We aim to protect 300,000 lower-income families who are burdened by high rents, preserve 30,000 affordable homes, and produce 35,000 homes a year, of which 21,000 are affordable to lower and moderate-income families.

Those joining the Policy Working Group commit to the Partnership’s principles and commit to deploying their political capital to advance needed policy change, at the local, regional and state levels.

For more information about our working groups, contact Wendy Guzman-Rodriguez (