Thirty-Home Development Will Address Housing Availability for Contra Costa County Veterans
Pittsburgh, CA – May 11, 2022 – Housing Trust Silicon Valley, a nonprofit community loan fund, Satellite Affordable Housing Associates, and Apple today announced the grand opening of Veterans Square, a 30-home affordable housing development in the Old Town neighborhood of Pittsburg.
Located at 901 Los Medanos Street, Veterans Square is in close proximity to restaurants, frequent bus services, and the Pittsburg Center BART Station. Designed to Green Point Rated GOLD standards, the building offers photovoltaic, solar thermal systems, and other green features, as well as a community garden.
“SAHA is thrilled to continue our work to serve veterans and end veteran homelessness in Contra Costa County,” said Susan Friedland, Chief Executive Officer of SAHA. “Affordable homes for veterans are desperately needed throughout the county and the state. According to the United States Interagency Council on Homelessness, there are over 10,000 veterans currently experiencing homelessness in California alone. We can change this.” Housing Trust provided a loan through the $150 million Apple Affordable Housing Fund which was created to support new affordable housing projects by making loans to qualified developers to help accelerate affordable housing construction across the Bay Area.
“We’re committed to helping solve California’s housing crisis, and to working with partners like SAHA and Housing Trust Silicon Valley to provide critical housing resources for our most vulnerable communities,” said Kristina Raspe, Apple’s Vice President of Global Real Estate & Facilities. “As part of our $2.5 billion affordable housing initiative, we are proud to support Veterans Square and help create new affordable units across the region.”
“Our mission is to provide safe affordable housing solutions for those in need,” said Noni Ramos, CEO, Housing Trust. “Through the financing provided by the Apple Affordable Housing Fund, we are proud to support the creation of housing for veterans seeking housing stability. Grand openings like this are so exciting because they mark a new beginning for those who bravely served our country.”
Other financing sources include the City of Pittsburg, the City of Pittsburg Housing Authority, the California Department of Housing and Community Development, the California Tax Credit Allocation Committee, the California Debt Limit Allocation Committee, Contra Costa County, Raymond James Tax Credit Fund, Chase, and the U.S. Department of Housing and Urban Development.
About Housing Trust Silicon Valley
Housing Trust Silicon Valley (Housing Trust) is a CDFI, (Community Development Financial Institution) based in San Jose that works to improve the quality of life for low to moderate -income people in the greater Bay Area by increasing affordable housing opportunities. Since 2000, Housing Trust has invested nearly $500 million in programs that help everyone from the homeless to renters to first-time homebuyers – creating over 25,300 affordable housing opportunities serving 46,000 plus of our neighbors.