Housing Trust Loan Helps Long-Planned Senior Housing Clear Final Hurdles

Newly Funded

Housing Trust Loan Helps Long-Planned Senior Housing Clear Final Hurdles

Housing Trust Loan Helps Long-Planned Senior Housing Clear Final Hurdles

A $500,000 predevelopment loan from the Housing Trust will keep design, entitlement and financing work moving forward on First Community Housing‘s Leigh Avenue Senior Apartments in San Jose. Leigh Avenue has been on the drawing board for a decade, but stalled during the Great Recession and, later, the dissolution of redevelopment agencies across the state. Through it all,…

Quetzal RCD

Newly Funded

$4.3 Million Loan for Quetzal Gardens

Quetzal RCD

Housing Trust made a $4.3 million acquisition loan to RCD for Quetzal Gardens in the Little Portugal area of East San Jose. Quetzal Gardens will be six stories and the first two floors of the development will consist of a lobby, retail space for community serving non-profits and a parking garage. All 70 apartments will…

Loan to Hello Housing Preserves Affordability of East Palo Alto Homes

Newly Funded

Loan to Hello Housing Preserves Affordability of East Palo Alto Homes

Loan to Hello Housing Preserves Affordability of East Palo Alto Homes

Housing Trust is providing a $610,313 loan to Hello Housing, a nonprofit affiliate of MidPen Housing to acquire three single family homes on Garden Street in East Palo Alto, San Mateo County. The three homes are currently rented to low-income tenants. When the tenants decide to move, Hello Housing may use the homes to create ownership opportunities…

Sunflower 1 cropped

Newly Funded

Loan in Livermore Helps Fund Homes for People with Special Needs

Sunflower 1 cropped

Housing Trust is providing a predevelopment loan in the amount of $500,000 to MidPen Housing for Sunflower Hill, a 45-apartment community in Livermore serving individuals with developmental disabilities. Sunflower Hill was formed as a nonprofit in 2012 by families of children with special needs to develop 45 apartments of affordable housing for adults with developmental…

Villas on the Park

Newly Funded

Villas on the Park Coming to Downtown San Jose

Villas on the Park

Housing Trust is providing a $1 million pre-development loan for Villas on the Park, an 83-apartment complex on Second Street in downtown San Jose. The plan includes 78 apartments for permanent supportive housing and five apartments for interim housing for up to 20 residents — all for individuals who have incomes below 35% of area…

Fuji Towers

Newly Funded

Fuji Towers Apartments

Fuji Towers

Housing Trust Silicon Valley is providing a pre-development loan in the amount of $500,000 to Fuji Towers, a HUD-financed 140 apartment senior housing development in the Japantown neighborhood of San Jose. Fuji Towers opened 40 years ago to house low-income Japanese-American residents. The resident population has diversified over the years, but remains a vibrant and close…

Atherton Court Apartments in Redwood City

Newly Funded, Updates

Atherton Court Apartments – MidPen Housing

Atherton Court Apartments in Redwood City

Housing Trust Silicon Valley is providing a loan in the amount of $11.2m to MidPen Housing Corporation for acquisition of the 55-unit Atherton Court Apartments.  If it weren’t for MidPen’s purchase of Atherton Court, the apartments could have been sold to a market-rate developer, putting existing low-income tenants at risk of massive rent increases and displacement. As…

Loan Helps Visionary Home Builders Create New Housing in Stockton

Newly Funded

Loan Helps Visionary Home Builders Create New Housing in Stockton

Loan Helps Visionary Home Builders Create New Housing in Stockton

Visionary Home Builders of California are receiving Housing Trust’s first loan in the city of Stockton. The $472,500 loan will go toward helping Visionary buy undeveloped lots in a subdivision that was left incomplete by the recession. The intention is to build 21 new homes to be sold to first-time home buyers making no more than…