Grant will fund 75 units of affordable housing for families and formerly homeless Veterans earning between 30% and 60% AMI
Housing Trust Silicon Valley has partnered with Federal Home Loan Bank of San Francisco (“FHLBank San Francisco”) to deliver a $2 million Affordable Housing Program (AHP) General Fund grant to The Unity Council and their co-developer Eden Housing to support the development of 2700 International, a 75-unit affordable housing community serving families and formerly homeless Veterans earning between 30% and 60% AMI in Oakland.
The AHP application was the first Housing Trust sponsored since becoming a member of FHLBank San Francisco in July 2025, creating an opportunity to bring additional resources to the project. AHP grants contribute to the development, preservation, and rehabilitation of single-family and multifamily housing that serves people in need, including lower-income families, the chronically unhoused, seniors, veterans, at-risk youth, people living with disabilities and mental health challenges or overcoming substance abuse, and many others.
“Becoming a member of the Federal Home Loan Bank of San Francisco has added a new tool so that our organization can bring capital to the development and preservation of affordable housing,” said Noni Ramos, CEO of Housing Trust. “As a member, we now have the ability to sponsor AHP grant applications that put meaningful dollars directly to work in developments like 2700 International. We are one of only 11 Community Development Financial Institutions who are members of FHLBank San Francisco, and the most recent to join. In just our first year, we have already put that membership to work to move a project forward that will give families and veterans a place to call home.”
Before sponsoring the AHP application, Housing Trust initially supported the 2700 International project with a $4.3 million construction-to-permanent loan through the Apple Affordable Housing Fund. Housing Trust built on its commitment to the project by providing additional permanent capital needed to move the development forward. Smaller permanent loans can be challenging to source from conventional banks. Housing Trust filled that gap, stepping in with an additional $1.9 million, putting a total of $6.2 million to work in the project.
Located in Oakland’s Fruitvale neighborhood, 2700 International will include 22 units set aside for formerly homeless veterans, with 19 supported by HUD-VASH (Veterans Affairs Supportive Housing) vouchers administered by the Oakland Housing Authority. The development will also feature below-market-rate commercial space, a community garden, a children’s play area, and sustainable design targeting GreenPoint Rated Gold certification.
“This essential funding will ensure that the 2700 International development keeps moving,” said Chris Iglesias, CEO of The Unity Council. “The Unity Council has served the Fruitvale neighborhood for decades, and this development means 75 more families and veterans can find a stable, affordable home right here in their community. We are grateful to Housing Trust Silicon Valley and FHLBank San Francisco for supporting this project and the people it will serve.”
“We are deeply grateful to Housing Trust Silicon Valley, a long-time partner of Eden Housing, and FHLBank San Francisco for their investment in affordable housing and their commitment to this important Oakland community,” said Linda Mandolini, president and CEO of Eden Housing. “Partnerships like these are essential to making affordable housing possible. Together, along with Unity Council, we’re creating stable, high-quality homes that will serve our most vulnerable populations for generations to come.”
FHLBank San Francisco’s member financial institutions work in partnership with community-based housing developers to compete for AHP General Fund grants by submitting applications for specific projects in an annual funding competition. In total for the 2026 program cycle, the Bank’s AHP awarded funding for 45 affordable housing projects, including 34 in California, five in Arizona, and six in Nevada.
“Partnerships like these, including between Housing Trust, The Unity Council and Eden Housing, are essential to increasing the supply of affordable housing and improving access across the communities we serve,” said Tom Dapice, community investment officer at FHLBank San Francisco. “By working closely with our members and their community partners, we are able to support financing that helps bring new housing to market and preserve existing homes, expanding opportunity and helping ensure more individuals and families can afford a stable place to live.”
Since the inception of AHP in 1990, FHLBank San Francisco has partnered with its members to award $1.48 billion in AHP grants to help fund the development and/or preservation of nearly 160,000 units of affordable housing, helping hundreds of thousands of people throughout California, Arizona, Nevada, and other regions served by FHLBank San Francisco members, have an affordable place to call home.
For more information about the 2026 AHP General Fund and Nevada Targeted Fund winning projects, visit FHLBank San Francisco’s website at fhlbsf.com. To learn more about the 2700 International project, read here.
About Housing Trust Silicon Valley
Housing Trust Silicon Valley is a leader in affordable housing finance, making housing opportunities possible in one of the most expensive housing markets in the country. For 26 years, Housing Trust has brought public and private partners together to move creative housing solutions forward that would not happen otherwise. Since our founding, Housing Trust has invested $690 million in affordable housing and created 28,700 housing opportunities serving 53,800 people, leveraging $9 billion in capital with partners across the region.
About the Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — propel homeownership, finance quality affordable housing, boost economic vitality, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant and resilient and changing lives for the better.
Media contacts:
Julia Forrest
Lighthouse Public Affairs for Housing Trust Silicon Valley / julia@lh-pa.com / (808) 777-9786