Developer: Resources for Community Development
Housing Trust Loan: $5,250,000 Acquisition
Proposed Units: 90
Population Served: Families & individuals earning up to 70% of the Area Median Income (AMI)
Congratulations to Resources for Community Development (RCD) on securing acquisition financing for 544 West Alma, a new 100% affordable development that will bring 90 homes to San Jose’s Willow Glen neighborhood. Housing Trust is proud to support this project with a $5.25 million acquisition loan, made possible through a combination of capital sources, including the Google Launch Initiative and the Golden State Acquisition Fund.
Located in a thriving community just a quarter of a mile from Tamien Station, 544 West Alma will offer residents easy access to public transportation. The project will transform an underutilized site into affordable, dignified homes for families and individuals earning up to 70% AMI.
Tamien Station’s Role: As a key transit hub and connection point linking Caltrain with VTA light rail and other regional services, Tamien Station connects residents to destinations across San José and throughout the region—including a direct route to San Francisco—making it easier to access jobs, education, and opportunities without relying on a car.
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.
Since 2015, we’ve partnered on nine projects with RCD, totaling $40.9 million in financing—including Bell Street Gardens in Fremont, 128 deeply affordable homes for families—which recently celebrated its grand opening. We’re proud to continue this long-standing partnership to help create more inclusive, affordable housing solutions across the Bay Area.