On April 18, 2018, several of the Housing Trust team attended the groundbreaking ceremony of The Veranda in Cupertino – a Charities Housing development intended to create 18 affordable homes for seniors. Less than 18 months later, we got to attend the grand opening!
Housing Trust provided a $3 million loan to help the project, which is the first permanent supportive housing development built with Measure A funds – the affordable housing bond approved by Santa Clara County voters in 2016. Click here to read The Mercury News story on the grand opening and see the short video we made.
The very next day, we carpooled up to Mountain View to take part in a ‘wall raising’ ceremony for MidPen Housing’s Shorebreeze project.
Housing Trust provided a $700,000 predevelopment loan as well as a $500,000 55-year deferred permanent loan to help with gap financing for the expansion – which will renovate 108 existing homes and replace 12 older units with 62 new homes.
Thank you MidPen, Union Bank, the City of Mountain View, and others for all of the collaborative work to make this project happen!