Developer: MidPen Housing
Housing Trust Loan: $9,945,000 Acquisition
Proposed Units: 250
Population Served: Families and Seniors
Congratulations to MidPen Housing on securing acquisition financing for 2727 Mattison Lane, a 250-unit affordable housing development in Unincorporated Santa Cruz County. Housing Trust is pleased to provide a $9,945,000 acquisition loan through our TECH Fund to support this significant project.
Designed as an intergenerational community, this project will serve both families and seniors earning between 30% and 80% of the area median income. On-site resident services will foster connections across generations, and will include afterschool and summer programs for youth, vocational development and financial literacy programs for adults, and a computer lab for all residents.
The project emphasizes sustainability and will be a 100% electric building powered by solar panels and aiming for GreenPoint Rated certification, reflecting MidPen’s commitment to energy efficiency and environmental responsibility.
This collaboration with longtime partners MidPen Housing is a testament to our shared commitment to expanding affordable housing across the greater Bay Area. To date, we have closed 15 loans with MidPen, totaling more than $56 million. We’re proud to support this transformative project and look forward to its positive impact on the Santa Cruz County community.
This project is an example of our transformative work in the Monterey Bay region, providing 14 loans totaling $33 million to date, with many projects financed with our Monterey Bay Affordable Housing Trust funding partners, Monterey Bay Economic Partnership (MBEP).