The San Diego Foundation has announced a $10 million commitment to seed a $100 million Housing Impact Fund and help accelerate the production and preservation of equitable, sustainable, and community-focused housing in the San Diego region.

In addition to making the largest grant in its history, the community foundation will partner with the County of San Diego to raise the remaining funds from other philanthropic sources and will work alongside developers to build 10,000 affordable homes by accessing government-owned land and additional state and federal spending.

A recent study named San Diego the least affordable city for homebuying in California, based on income and the price of single-family homes, the Times of San Diego reports.

“The San Diego Foundation was founded by people who love San Diego and believe in inspiring enduring philanthropy and enabling community solutions to improve the quality of life in our region,” said Steve Klosterman, who chairs the foundation. “We [stand] ready…to advance affordable housing in San Diego.”

(Photo credit: GettyImages/TerryJ)