Sonoma County Housing Fund
Housing Trust and the Santa Rosa Metro Chamber established the Sonoma County Housing Fund in 2019 to help create affordable housing in Sonoma County, which saw the need for affordable homes skyrocket in the aftermath of the devastating Tubbs Fire in 2017.
Stony Point Flats, Santa Rosa. Image courtesy Phoenix Development and Integrity Housing.
There is a significant cost to bringing a project to a state of construction readiness and [Sonoma County Housing Fund] allowed us to proceed at a much quicker pace than if we would have had to raise funds within the private marketplace."
– Loren Brueggemann, Principal of Phoenix Development Company
Siesta Senior Apartments, Sonoma. Image courtesy KTGY Milestone Housing Group.
The Sonoma County Housing Fund made its first loans in FY 2021. The three separate developments – Siesta Senior Apartments in Sonoma, Stony Point Flats and Acme Apartments – both in Santa Rosa – will bring over 200 affordable homes to the region. The combined amount lent by the Sonoma County Housing Fund for the three developments is $3.64 million.
Siesta Senior Apartments, led by developer Pacific Housing, will be comprised of over 90 homes. Stony Point Flats by Phoenix Development and Integrity Housing is expected to bring 50 affordable homes, while Acme Apartments by Milestone Housing/Pacific Housing will be made up of 77 homes. All 200-plus units will be aimed toward residents who earn up to 60% of the area median income (AMI) of the region.