Developer: Danco Communities
Housing Trust Loan: $2.26 Million Acquisition Loan
Units: 49 Affordable Apartments
Population Served: Seniors
Congratulations to Danco Communities on closing acquisition financing for 348 Park Street Senior Housing – 49 affordable homes for seniors in the Town of Moraga, Contra Costa County. We supported the project with a $2.26 million acquisition loan from our Building Impact Initiative.
Our first project in Moraga – and our first partnership with Danco Communities – brings affordable senior housing to this East Bay town known for its rolling hills and strong sense of community. Moraga is charting a new path forward with a commitment to creating affordable homes where older adults can age in place and remain connected to their community.
“While the Town of Moraga has historically offered very few affordable housing options, the current Town Council’s commitment to achieving the Town’s affordable housing targets is reflected in its recent approval of this exciting 49-unit 100% affordable senior housing development. Obtaining funding for this particular project demonstrates a meaningful next step toward a more inclusive future for the broader Moraga community,” said Town Manager Scott Mitnick. “Projects like the Park Street Senior Housing – made possible through catalytic financing from Housing Trust Silicon Valley – reflect the Town Council’s shared vision for a community where residents of all ages, demographics, and incomes can live, work, recreate, connect, and thrive.”
The project will feature a “Woonerf” street design – a Dutch concept that transforms neighborhood streets into shared spaces where pedestrians, cyclists, and vehicles coexist safely. This design encourages accessibility, safety, and social interaction – all key to fostering a vibrant, age-friendly environment.
Since 2000, Housing Trust has invested over $690 million, creating more than 28,700 housing opportunities and helping 53,800 neighbors find homes they can afford, while leveraging $9 billion with its partners.
Our Building Impact Initiative is a $200 million campaign that builds upon the success of our TECH Fund, expanding the proven model that has helped create and preserve 7,000 affordable homes in the region. Through flexible, below-market financing, the initiative provides developers with the catalytic capital needed to move projects forward and strengthen communities. To learn more about the Initiative and how you can support it, contact JulieQ@housingtrustsv.org.