Crankstart Foundation Awards $7 Million to Revitalize San Francisco Nonprofit Housing Cooperative
TL;DR
Crankstart's $7 million grant to Freedom West will advance the 2.0 master development, creating economic independence.
The grant helps fund the development plan, reducing reliance on subsidies and ensuring long-term self-sustainability.
Freedom West 2.0 aims to save residents from displacement, create a thriving neighborhood, and offer economic stability for all.
FWCDC plans an Innovation Center for STEM workforce empowerment, recognized as a replicable model for sustainable economic independence.
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The San Francisco-based Crankstart Foundation has awarded a $7 million grant to Freedom West Community Development Corporation, marking a significant milestone in the nonprofit's ambitious redevelopment strategy. The funding will help complete the $25 million Freedom West 2.0 Founders Circle campaign, supporting the transformation of a historically significant housing cooperative into a self-sustaining community hub.
The project, situated on a 10-acre site, will encompass approximately 515 affordable housing units, 1,500 market-rate units, 80,000 square feet of commercial space, and a boutique hotel. By diversifying its revenue streams, Freedom West aims to reduce reliance on government subsidies and create long-term economic independence for its 1,000 current residents.
A key innovation of the project is the planned STEM workforce and entrepreneurship Innovation Center, which will provide tech and science-related workforce development resources to residents and the broader Fillmore community. This initiative represents a strategic approach to addressing economic mobility and empowerment.
Freedom West, originally established in the 1970s to prevent displacement and create wealth-building opportunities for low- and moderate-income families, is now positioning itself as a replicable model of community-driven development. The project has already garnered recognition at the Parity Zone Symposium as a potential blueprint for other communities seeking sustainable economic independence.
Crankstart CEO Missy Narula emphasized the foundation's commitment to unlocking opportunities for people from diverse backgrounds, while local Supervisor Bilal Mahmood praised the project as an exemplar of community ownership and self-determination.
The comprehensive redevelopment strategy includes partnerships with organizations like MacFarlane Partners and support from multiple funding partners, demonstrating a collaborative approach to community transformation.
Curated from 24-7 Press Release
