Donation to Fuel Housing Trust’s Mission of Building Equitable and Affordable Communities Across the Bay Area
San Jose, CA – October 2, 2024 – Housing Trust Silicon Valley, a nonprofit community loan fund, today announced that it has received a generous $30 million donation from MacKenzie Scott through her Yield Giving philanthropic fund. This transformative gift will significantly advance Housing Trust’s mission to create more equitable and affordable communities throughout the 14-county greater Bay Area.
“This donation, the largest from an individual in our history, comes as an incredible surprise; we are deeply honored and extraordinarily grateful to be entrusted with this unrestricted gift,” said Noni Ramos, CEO of Housing Trust. “With this trust also comes the recognition that through transformative finance, we, together with our partners, transform lives.”
Founded in 2000, Housing Trust was created to meet the growing need for affordable housing solutions by forming a partnership between affordable housing advocates, businesses, public and private sector leaders, and foundations.
“As we prepare to celebrate 25 years of funding affordable housing solutions, this donation comes at a pivotal moment,” said Joe Anzalone, Housing Trust’s Board Chair. “To date, we’ve invested $615 million in the community, created 27,200 housing opportunities, and helped more than 51,000 neighbors find affordable housing in our region. Even more so, $8.1 billion has been leveraged by our partners. We thank MacKenzie Scott for believing in our mission.”
The $30 million gift will allow Housing Trust to accelerate its work and scale efforts to address the region’s growing affordable housing crisis. Early ideas for using the funds include seeding a new capital raise for the organization’s loan fund, expanding existing programs, and launching new initiatives to deepen partnerships and foster greater equity and affordability in housing.
With the help of its partners, Housing Trust’s impact is seen across numerous communities, including recent projects such as Meridian Apartments in Sunnyvale and Vivalon in San Rafael. At Meridian Apartments, in partnership with Related California, Housing Trust provided a $2 million predevelopment loan to support the creation of 90 affordable homes for families in one of the Bay Area’s most expensive cities. In San Rafael, Housing Trust supported Eden Housing with a $4 million loan for Vivalon, a 66-unit affordable housing development for older adults, where residents benefit from affordable homes paired with supportive services.
“Every day, we are inspired by our mission-driven partners, investors, and dedicated staff, all of whom share our vision for a future where affordable housing is available to all,” said Ramos. “Join us in building a future where everyone has access to safe, dignified, affordable housing. While this remarkable gift from MacKenzie Scott has sparked tremendous momentum, it is only the beginning. The need for equitable and affordable housing is greater than ever, and to fully realize this vision, we need your support. Now is the time to act. Together, we can amplify this impact, scale our efforts, and tackle the housing crisis head-on. Partner with us to create lasting, meaningful change in our communities.”
As Housing Trust continues to expand its impact, it remains committed to ensuring that all people in the Bay Area have access to safe, stable, and affordable homes.
About Housing Trust Silicon Valley:
Housing Trust Silicon Valley is a regional Bay Area CDFI (Community Development Financial Institution) that is transforming housing finance and public and private partnerships to create more equitable and affordable communities. Since 2000, Housing Trust has invested more than $615 million in programs that help everyone from the homeless to renters to first-time homebuyers – creating over 27,000 affordable housing opportunities helping more than 51,000 of our neighbors. For more information, visit housingtrustsv.org.
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