04 May

Housing Trust Receives $120,000 Wells Fargo Grant to Boost the Production of ‘Granny Units,’ Increase the Supply of Affordable Housing in Bay Area

left to right: Max Seetho, President of Wells Fargo’s Silicon Valley Region, Vianey Nava, ADU Program Manager for Housing Trust Silicon Valley and Blanca Gomez, Vice President, Community Relations Associate Manager, Wells Fargo at Morgan Hill’s ADU Resource Fair, May 4, 2019

Housing Trust Silicon Valley, a nonprofit community development financial institution (CDFI) focused on affordable housing in the greater Bay Area, is pleased to announce it received a $120,000 Wells Fargo grant to help the Small Homes, Big Impact (SHBI) program build its reach and capacity.

SHBI is Housing Trust Silicon Valley’s first-of-its-kind program launched in early 2018 to help homeowners in the greater Bay Area create new housing by building a small home known as an accessory dwelling unit (ADU) or “granny unit” that may be detached, attached or converted from existing space in the primary home on single family lots.  ADUs are naturally green buildings that utilize less construction materials and consume less utilities than larger single family homes.  With the grant award received, SHBI was able to hire program assistance to help support and expand its outreach and workshops.  Since its formation, SHBI has helped educate 250 homeowners throughout the Bay Area.

The grant was part of the Wells Fargo Housing Foundation Priority Markets Program to support initiatives that help remove barriers to sustainable housing and focus on neighborhood revitalization. Housing Trust was among 50 nonprofits around the country to receive a grant from the program.

“As a leading home mortgage and affordable housing lender, Wells Fargo shares Housing Trust Silicon Valley’s dedication and passion for creating affordable and sustainable housing opportunities,” said Max Seetho, president of Wells Fargo’s Silicon Valley region. “We are proud to support its Small Homes, Big Impact program to stimulate the production of accessory dwelling units and increase the supply of affordable housing.”

“We thank Wells Fargo for helping our ADU program on its mission of creating affordable housing opportunities one small home at a time,” said Vianey Nava, program manager at Small Homes, Big Impact. “Housing Trust is able to expand its services to help even more people across the affordable housing spectrum thanks to dedicated partners like Wells Fargo.”

For more information on Housing Trust Silicon Valley’s Small Homes, Big Impact program, click here.

ABOUT HOUSING TRUST SILICON VALLEY

Housing Trust Silicon Valley (Housing Trust) is a nonprofit community loan fund based in San Jose that works to improve the quality of life for low-income people in the greater Bay Area by increasing affordable housing opportunities. Since 2000, Housing Trust has invested nearly $230 million in programs that help everyone from the homeless to renters to first-time homebuyers – creating nearly 18,500 affordable housing opportunities serving 33,600 of our neighbors. It is the first nonprofit Community Development Financial Institution (CDFI) to receive a Standard & Poor’s rating, AA- because of its strong capacity to meet financial commitments. For more information visit www.housingtrustsv.org

ABOUT SMALL HOMES, BIG IMPACT

Small Homes, Big Impact is a pilot program from Housing Trust Silicon Valley offering free educational workshops and financial assistance to greater Bay Area homeowners seeking to build an accessory dwelling unit (ADU) on their property. Workshops from Small Homes, Big impact are once per calendar quarter and are led by local ADU practitioners including land use consultants, builders, designers, architects, lenders and others during a full day course. The financial assistance program will consist of a planning report grant and a construction loan to be rolled out later this year.  For more information please visit https://housingtrustsv.org/programs/adu/

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Contacts:

Vianey Nava, ADU Program Manager, Housing Trust Silicon Valley vianey@housingtrustsv.org 408-436-3450 ext. 228

Michael Norris, Communications Manager, Housing Trust Silicon Valley michael@housingtrustsv.org 408-436-3450 x 241