CRANKSTART AWARDS $7 MILLION GRANT TO FREEDOM WEST COMMUNITY DEVELOPMENT CORPORATION

-Transformative Grant Accelerates $25 Million Freedom West 2.0 Founders Circle Campaign and Freedom West 2.0 Master Development-

SAN FRANCISCO, April 16, 2025 /PRNewswire/ -- Freedom West Homes Corporation ("Freedom West"), a nonprofit limited equity housing co-operative in the Fillmore District of San Francisco, announced today that Crankstart, a San Francisco-based family foundation, has awarded a $7 million grant to the Freedom West Community Development Corp (FWCDC). This funding will significantly advance the Freedom West 2.0 master development, a bold plan to revitalize and sustain the Freedom West Homes nonprofit housing cooperative for future generations.

A Legacy of Empowerment
Freedom West Homes Corporation, one of the largest nonprofit housing cooperatives in the western United States, was founded in the 1970s to provide affordable homeownership, and multi-generational wealth creation opportunities to low- and moderate-income families in San Francisco's Fillmore/Western Addition neighborhood. The community was born from a vision to empower residents and prevent displacement during the height of urban renewal. To ensure long-term economic self-sustainability, Freedom West established FWCDC as its 501(c)(3) arm, dedicated to developing sustainable revenue streams that enable the nonprofit housing cooperative to become fully self-reliant and ultimately to become capable of providing financial assistance to residents and small business owners in the surrounding Fillmore/Western Addition community.

Transforming Freedom West for Generations to Come
The $7 million grant from Crankstart will help close out the $25 million Freedom West 2.0 Founders Circle campaign. This substantial funding is crucial to the vision of Freedom West 2.0, which aims to reduce reliance on government subsidies and create economic independence through strategic investments in commercial real estate and profit-participation agreements with its master development partner, MacFarlane Partners.

"This grant funding from Crankstart is a major step forward in saving Freedom West's existing 1,000 residents from displacement while preserving the opportunity for housing security and wealth creation for the next generation," said Mattie Scott, Freedom West Community Development Corporation board President. "It's not just about preserving affordable housing for Freedom West residents—it's also about creating a self-sustaining, thriving neighborhood that can be a beacon of hope and catalyst for the revitalization of the greater Fillmore/Western Addition community."

On its 10-acre site, Freedom West 2.0 is planned to include approximately 515 affordable housing units, 1,500 market-rate housing units, 80,000 square feet of commercial and retail space, a boutique hotel, and a significant amount of open space. These assets will save approximately 1,000 current residents from displacement, revitalize four city blocks, and generate sustainable revenue for the nonprofit cooperative, ensuring that Freedom West can become self-sustaining, and can provide financial support to current and future residents and small business owners.

"Everyone deserves the opportunity for both economic stability and economic mobility," said Missy Narula, CEO of Crankstart. "Crankstart widely supports programs that unlock opportunities for people from all backgrounds in San Francisco. We are proud to help Freedom West fulfill its vision for preserving and building affordable housing in the Fillmore community."

"Freedom West has been a quintessential example of community ownership and self-determination in San Francisco that has set a model for economic empowerment," said Supervisor Bilal Mahmood, who represents the Fillmore/Western Addition communities. "Crankstart's partnership to uplift our residents and support in preserving affordable homes is most welcome."

Building an Innovation Hub and Economic Empowerment for the Future
FWCDC is beginning the planning and design process for a STEM workforce and entrepreneurship Innovation Center at Freedom West which will be located at the center of the Freedom West 2.0 development on the ground level of the new co-op building. This facility will empower residents and the broader Fillmore community with access to tech- and science-related workforce development resources and entrepreneurship resources, including access to capital, creating a fully integrated ecosystem for economic mobility and empowerment.

A Model for Systems Change
Freedom West 2.0 has been recognized as a replicable model for placed-based, community-driven development, highlighted at the inaugural Parity Zone Symposium in San Francisco this past November. FWCDC plans to further document and refine the Freedom West 2.0 framework to support other communities seeking sustainable economic independence.

Partnerships and Future Plans
Freedom West 2.0's success has been built on collaboration with dedicated development partners, including MacFarlane Partners, Avanath Capital Management, Legacy First Partners, Bethel AME Church, Marinship Development, and John Stewart Company. The key funding partners that have contributed to the revitalization of Freedom West to date include Crankstart, JP Morgan Chase, Low Income Investment Fund (LIIF), CommonSpirit, San Francisco Foundation, Menorah Park, Housing Accelerator Fund, and the City of San Francisco.

About Freedom West 
Freedom West Homes Corporation is a nonprofit housing cooperative comprised of 382 housing units located in the Fillmore District of San Francisco. In the late 1960s, in a period of civil turmoil, Rev. J. Austell Hall had a vision to preserve a portion of this neighborhood that was being threatened by the City's urban renewal. From this vision, he established Freedom West with the objective of creating a safe, affordable community, protecting cultural diversity, and providing a source of social and economic empowerment through co-operative ownership. For additional information visit Freedom West Homes.

About Crankstart
Crankstart is a San Francisco-based family foundation devoted to bolstering the foundations of a just society - wider access to better education, jobs with prospects for advancement, housing security, social welfare and the protection of civil rights. Crankstart also supports the arts, basic science and efforts to mitigate climate change. About 60% of grants go to groups in the San Francisco Bay Area.

Crankstart envisions a vibrant, thriving Bay Area, where our region's prosperity is strengthened and shared more equitably by all who live here.

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SOURCE Freedom West Homes Corporation