Developer: Habitat for Humanity East Bay/Silicon Valley
Housing Trust Loan: $667,680
Units: 4 Condominiums Will Be For Sale
Population Served: Households Earning Between 45-80% of the Area Median Income (AMI)
Congratulations to Habitat for Humanity East Bay/Silicon Valley on closing construction financing for 4th and Reed, future ownership opportunity for four low-income individuals or families in downtown San Jose. Housing Trust supported this project with a $667,680 construction loan through our Google Launch Initiative.
The century-old building was slated for demolition to make way for a high-rise-until a creative partnership between the Preservation Action Council of San Jose and the City of San Jose stepped in. The City donated a nearby lot, funding was secured to relocate the structure, and today, it stands ready for new life at 4th and Reed in a vibrant, transit-rich neighborhood near shops, restaurants, schools, and community resources.
Instead of being lost to history, the building’s 1,100-square-foot units will be renovated and reconfigured with energy-efficient upgrades, preserving their unique architectural character. Once complete, the homes will be sold to households earning between 45-80% AMI, helping local families build equity and long-term stability.
Habitat for Humanity East Bay/Silicon Valley is a nonprofit developer dedicated to creating and preserving affordable homeownership for low- and moderate-income families across the region. Their work is rooted in community partnership, volunteerism, and a commitment to equity and opportunity.
This marks Housing Trust’s third ownership project-49 homes financed-and complements our homebuyer work.
Launch Initiative – Google’s fund, managed by Housing Trust Silicon Valley – helps affordable housing projects move forward faster. Over the past five years, we’ve collectively helped create or preserve more than 4,800 homes across the greater Bay Area.
The 4th and Reed project is a powerful example of what’s possible when public agencies, preservation advocates, and affordable housing partners come together with a shared vision-and flexible capital-to deliver creative, community-centered housing solutions.