A $9.7 million acquisition loan was made to Eden Housing for a project on 1100 La Avenida Avenue in Mountain View, with the goal of creating a 100% affordable housing development consisting of 93 apartments – all of which are intended for residents who make 60% or below area median income.
“Projects like La Avenida are exactly why the Housing Trust was created,” said Linda Mandolini, president of Eden Housing. “There is such an enormous need and demand for affordable housing, but also great demand and competition in the market for available sites. We value our partnership with the Trust and their ability to help us respond quickly to a land acquisition opportunity. This funding allows us to work on what’s critically important: creating housing that Californians can afford.”
Near the Steven’s Creek Trail – a popular route for pedestrian and bicycle commuters – 1100 La Avenida is on the corner of Armand Avenue in the Shoreline Business Park area of Mountain View.
With this loan, 100% of LinkedIn’s investment in Housing Trust’s TECH Fund has been put to work. In December, LinkedIn joined Cisco Foundation, Sobrato Family Foundation and the David and Lucile Packard Foundation to invest in the Housing Trust initiative. For more information about TECH Fund click here.