Developers are slowly adding new senior housing across the Bay Area, but the region’s pipeline is splitting in two: Market‑rate projects in affluent enclaves are moving ahead, while affordable senior housing, even at shovel‑ready sites, is grinding to a halt under San Francisco’s deepening gap‑funding backlog.
“We have a bunch of sites secured and designed that are just waiting for that gap financing to become available in the city,” Tenderloin Neighborhood Development Corp. Vice President of Real Estate Chris Cummings said during Bisnow’s Bay Area Senior Housing Summit on May 21 at Hyatt Centric Fisherman’s Wharf.
“We are not even looking at new…