While Housing Trust is proud to share the news of affordable housing that is going to be built from the ground up we’re equally excited to engage with borrowers to preserve the affordable homes we already have.
Core Companies’ Markham Plaza – a 153 home, four story rental complex just a few miles south of Housing Trust’s office in downtown San Jose – has received a $1.3 million loan utilizing the Supportive Housing Fund – a partnership between Housing Trust Silicon Valley and the County of Santa Clara. The intent of this revolving loan fund is to reduce homelessness by creating permanent housing with supportive services for extremely low-income individuals and families as well as those with special needs. SHF loans can finance acquisition, predevelopment or construction of permanent supportive housing.
Completed in 2003, the monthly rent for half of the apartments is affordable to households earning 35% of AMI or below, while half of the homes are affordable to households earning 50% of AMI or below.