Another life-changing community from Eden Housing is underway in Newark, CA with the recent groundbreaking ceremony taking place. Timber Street Senior will deliver 79 units for seniors, fulfilling the city’s vision of transforming the surrounding neighborhood from light industrial and warehouse space to a vibrant, walkable residential neighborhood.
Housing Trust’s CEO Noni Ramos spoke about how we provided an Acquisition Loan for this property through our Google Launch Initiative, our TECH Fund, and the Capital Magnet Fund. This project is especially important for us because Timber was the first Google loan we ever made, back in 2020.
If you are unfamiliar with Google Launch, it is an affordable housing fund and strategic partnership between Housing Trust and Google aimed to accelerate the start-up and preservation of homes across our region. The goal is to invest in affordable housing by providing mission-oriented developers like Eden Housing with the financial resources needed to compete to acquire sites and advance these types of developments.
As always, we’ll provide updates as this project unfolds and we get closer to welcoming residents home to a safe and vibrant space!
