Freedom West 2.0
Annual Report 2024
Freedom West 2.0
Letter to Stakeholders
Dear Stakeholders,
Thank you for a great year of progress as we work together to save and revitalize Freedom West.
As we look back on 2024 and ahead to 2025, we celebrate many accomplishments detailed in the report. Most notably, we reached a total of
$24M in funding raised for our Freedom West 2.0 Founders Campaign, were awarded $3Million in pre-development funding from the City of
San Francisco for the Freedom West Affordable Senior Building and recently received final approval of our entitlements for the Senior Building
on April 22, 2025, which has us on track for our first groundbreaking by July of next year (2026)! Finally, Freedom West 2.0 was featured as a
model for scalable systems change at the inaugural Parity Zone Symposium 2024 on November 6th at the Commonwealth Club in San
Francisco.
These accomplishments would not have been possible without the help of committed stakeholders like you from industry, philanthropy,
government and community.
We are now in a solid position to complete the entitlement approval process with the City of San Francisco for the broader Freedom West 2.0
master development which is on target for completion by the end of 2025.
As we look ahead in 2025, our key focus is on closing out our Freedom West 2.0 Founder Circle fundraising campaign with just $1.3M left to
raise. Our development team continues to work hard in prep for breaking ground on the Freedom West Senior Building by next year, raising
funding to start the design of the Freedom West STEM Innovation and Entrepreneurship Center, and working in partnership with the
leadership at the City of San Francisco to advance the final approval of our master development entitlements.
On behalf of the 1,000 existing residents at Freedom West, and those families who will be able to return to Fillmore when our new housing is
built, we thank you for leaning in and helping us create a better tomorrow.
With gratitude,
Mattie Scott
President, Freedom West Homes Corporation
Richard O’Neal
Chairman, Freedom West Community Development Corporation
Fundraising
Reached a total of
$24M in funding
raised for the
Freedom West 2.0
Founders Campaign.
Founders
Campaign
Grants
Freedom West won
$3M funding from
the NOFA issued by
the City of SF for our
115-unit 100%
affordable senior
housing
development.
Predevelopment
Funding
New Partner
Selected John
Stewart Company as
our affordable
housing development
partner for the
Senior Building.
Affordable
Housing Partner
Policy
Leveraged the new
enhanced SB 35
legislation to
accelerate the
entitlement approvals
for the 115-unit 100%
affordable senior
housing development
We received formal
approval of
entitlements on April
22, 2025.
Enhanced SB 35
Legislation
Excellence
Freedom West 2.0
was featured as a
model for potential
replication and scale
by others nationally
at the inaugural
Parity Zone
Symposium 2024.
Serving as a
Model
Freedom West 2.0: Key Achievements
Freedom West 2.0: Key Achievements
Freedom West 2.0
Investment Partners
Huge thanks and recognition to the partners who have made impact investment
and grant funding contributions to the campaign to date which include:
Freedom West 2.0
Key Financials
Freedom West 2.0
Financial Performance Improvement (existing operations)
Increased debt service coverage ratio (DSCR) by over 300%
2018 - 2024
Achieved an increase in net operating income (NOI) margin of over 20%
Freedom West 2.0:
A Look Ahead
Freedom West 2.0 | Master Development Milestones
Q3 2025
•
Raise $500k (of $1.5M) in pre-
development funding for
FW 2.0 STEM
Entrepreneurship &
Innovation Center
Q2 2025
•
Shareholder Update &
Feedback Event
•
Senior Building Relocation
Plan Finalized
•
Launch $75M Catalyst Fund
Equity Raise for FW Co-op
Q4 2025
•
60+ FW Seniors pre-
qualified for Senior
Building
•
External Community
Outreach Event
Q2 2027
•
All funding for the 267-unit
Co-op building closes
•
Estimated groundbreaking
for 267-unit Co-op building
Q1 2026
•
$75M Catalyst Fund
Archor Investor Secured
•
2nd Catalyst Zone
Symposium Event
Q4 2026
•
Development
Agreement with City
of SF Approved
•
Entailments (EIR)
Approved by City of
SF
Q2 2026
•
Estimated groundbreaking
for 115-unit Senior Building
•
$1.5M funding for FW 2.0
STEM Entrepreneurship &
Innovation center secured
Q2 2028
•
Estimated completion of
the 115-unit Senior Building
10
Freedom West 2.0 | Ownership & Development Team
Mattie Scott
President
Freedom West Homes Corporation
Project Role: Project Sponsor
Landon Taylor
CEO
MacFarlane Partners | Investments Group
Project Role: Project Capital Raise Leader
Victor MacFarlane
Founder & Chairman
MacFarlane Partners
Project Role: Lead Development Partner
Antonio Rubbo
Development Advisor
MacFarlane Partners | Development Group
Project Role: Project Development Advisor
Daryl Carter
Chairman & CEO
Avanath Capital Management
Project Role: Development Partner and Property Management
Carol Galante
Founder and Advisor
Terner Center for Housing Innovation | University of California Berkeley
Project Role: Senior Advisor
Bobby Sisk
Bethel AME Church
Project Role: Affordable Housing Development Partner
Derek Smith
Managing Member
Marinship Development
Project Role: Development Partner
11
Freedom West 2.0 | Consultant Team
Karen Tiedemann
Attorney
Goldfarb & Lipman LLP
Project Role: General Counsel for Freedom West Homes
Walter Hood
Founder
Hood Design Studio
Project Role: Landscape Architect
Chan U Lee
President & CEO
Devine & Gong, Inc.
Project Role: Affordable Housing Consultant
Professor
UC Berkeley
MacArthur “Genius Award” Fellow
Faraaz Mirza
Principal
DLR Group
Project Role: Lead Architect
Jim Bond
Development Advisor
MacFarlane Partners I Development Group
Project Role: Project Development Advisor
Dan Gershwin
Partner
Coblentz Law
Project Role: Real Estate Law | CEQA Compliance
Marina Gorbis
Executive Director
Institute for the Future
Project Role: Visioning Workshops for Freedom West Board of Directors
Marc Spencer
CEO
Recharge Group
Project Role: Capital Campaign Consultant
Founders Circle
•
Help us close out the final $1.3M of our $25M fundraising campaign to complete the Freedom West 2.0 pre-
development and entitlement process. This enables Freedom West Homes to unlock the value of their 10
acres of land, rebuild their housing, and own additional commercial real estate that generates revenue to
create a long-term economic self sustainability plan to ensure its viability for the next generations to come.
Catalyst Fund
•
Help us raise $75M in equity needed to preserve and rebuild 267 units of permanently affordable co-op housing
which enables generational wealth creation and transfer.
STEM Entrepreneurship & Innovation Center
•
Help us fund the $500k design phase for the 6,000 square foot center which will provide residents at
Freedom West and the surrounding Fillmore / Western Addition neighborhood with access to the training,
mentorship, and capital needed to participate in the 21st century tech and science growth economy.
How You Can Help
“We don’t usually fund individual projects, but this felt like an exception,” said Fred Blackwell, San Francisco
Foundation CEO. “We invested more than we usually do because we saw the transformative potential of
Freedom West 2.0 — a vision that goes well beyond the bricks and mortar. Doing this the right way has the
potential to impact systems change in San Francisco, across the Bay Area, and beyond.”
-Fred Blackwell, CEO, San Francisco Foundation
Founder’s Circle Monument, designed by world renowned
landscape architect and MacArthur Genius, Walter Hood