Housing Trust has further expanded its impact in Santa Cruz County by making its very first loan to Habitat for Humanity Monterey Bay to help build 11 homes on Harper Street in Santa Cruz. While much of Housing Trust’s recent lending has been for predevelopment or land acquisition, this $1 million loan represents an exciting…
Newly Funded, Press Releases, Updates
First Housing Trust Loan to Habitat for Humanity Monterey Bay: $1 Million for Affordable Santa Cruz Homes
June 30, 2020
Newly Funded, Press Releases
$2.052 Million Loan from Monterey Bay Housing Trust Supports Low Income Housing for Families in Santa Cruz County
May 28, 2020
Monterey Bay Economic Partnership and Housing Trust Silicon Valley announced today a $2.052 million acquisition loan to Eden Housing for 1482 Freedom, a site in Watsonville for an affordable housing development consisting of 53 affordable homes. The affordability will be restricted to those earning 20% to 60% of the area median income which, in Santa…
Newly Funded
$3.4 Million Acquisition Loan in San Jose to Reed Community Partners
May 6, 2020
Housing Trust has made a $3.4 million acquisition loan to Reed Community Partners, which is working in partnership with Allied Housing, Abode Services and the County of Santa Clara, for the future site of The Dahlia apartments in San Jose. The site on the corner of Santa Clara and 24th Street is projected to have…
Newly Funded, Updates
More Multifamily Lending – and More to Come
April 24, 2020
Today we are happy to report continued strides in our lending thanks to funding from a host of wonderful supporters – including our TECH Fund investors, Supportive Housing Fund partner County of Santa Clara, all of our banking and philanthropic partners, and the County of Santa Clara’s Measure A. Our Multifamily Lending Team has…
Newly Funded
TECH Fund Helps Housing Trust Close 2nd Loan in Redwood City
April 9, 2020
Housing Trust made a $6.4 million loan to Affirmed Housing Group to acquire a site in Redwood City – drawing from our TECH Fund, which has helped finance over 3,000 homes since its creation in 2017. This Affirmed Housing project will add 90 homes to the 55 Housing Trust previously funded by preservation of affordable…
Newly Funded
Supportive Housing Fund Deployed for Markham Plaza Bridge Loan
April 9, 2020
Housing Trust has provided a $995,000 bridge loan for Markham Plaza II, Phase 2 of Markham Plaza Project, a 153 home Core Companies development in San Jose. This is following an earlier $1.3 million loan to the Phase I development. Both loans are allowing the Sponsor time to restructure the debt and rehabilitate the project…
Newly Funded, Press Releases, Success Stories
$17.4 Million Supports Low-Income Housing for Seniors in Santa Cruz County
March 5, 2020
Marina, CA-Monterey Bay Economic Partnership and Housing Trust Silicon Valley announced today a $4 million loan to BRIDGE Housing for a portion of the acquisition of Paloma Del Mar senior apartments with the purpose of maintaining affordability for low-income senior households in Freedom, CA. The loan is part of a joint program between Housing Trust…
Newly Funded
Resources for Community Development, TECH Fund Help Bring Affordable Housing Honoring Maudelle Shirek to Berkeley
December 18, 2019
Housing Trust has made a $6.1 million loan to Resources for Community Development to acquire a 0.6 acre site near the Ashby BART station in Berkeley, which will bring 87 affordable apartments – ranging in size from studios up to three bedrooms – and nonprofit commercial office space on the ground floor. The development will…
Newly Funded
Housing Trust Makes First Multifamily Loan in Emeryville
December 18, 2019
Housing Trust has lent Resources for Community Development $1 million for a land acquisition in Alameda County – the first multifamily loan we’ve made in Emeryville. The property consists of three contiguous parcels totaling .39-acres currently zoned for 39 units, and a separate RCD property, Bay Bridge Apartments, abuts the site and is currently occupied by…
Newly Funded
Google’s TECH Fund Investments Head to Work
October 30, 2019
TECH Fund is Housing Trust’s affordable housing investment vehicle created to both encourage greater Bay Area employers and philanthropic organizations to invest in affordable housing and enable developers to compete for land on the open market. As of today the investors in TECH Fund include Cisco, Google, Grove Foundation, LinkedIn, NetApp, the David and Lucile Packard…