Impact evaluation of program shows how tech companies and philanthropic partners can successfully make an impact on affordable housing
Programs helped create thousands of units serving extremely low-income households and hundreds of permanent supportive housing units
San Jose, CA – May 27, 2026 – Today, Housing Trust Silicon Valley released an impact evaluation of its TECH Fund program, which brought together tech industry and philanthropic partners to disburse more than $222 million in loans to create about 7,800 units of affordable housing across 11 Bay Area counties. The evaluation revealed the program was a model for how to provide developers with the flexible financing necessary to buy land and kickstart their projects while giving large employers and philanthropic organizations a way to support affordable housing in the region.
The report, titled Activating New Investment for Affordable Housing: How the TECH Fund Converts Corporate and Philanthropic Capital into Homes, conducted by the Community Planning Collaborative, found through interviews with investors, borrowers, and public agencies that the program served as a model for how to combine and utilize tech investment and philanthropy to advance affordable housing.
“The TECH Fund transformed how corporate and philanthropic partners view their roles in solving the housing crisis,” said Noni Ramos, CEO of Housing Trust Silicon Valley. “When you provide the private sector with the appropriate vehicle, capital moves faster, dollars revolve to finance multiple projects, and thousands of families move into homes they can afford while achieving better health, economic, and social opportunities. This program has served as a model for other organizations doing similar work, and we are committed to building on its success here at Housing Trust.”
By leveraging these partners to grow the financial resources available to advance affordable housing, this evaluation proved that the TECH Fund is a model for how to bring private and philanthropic capital together to move at the speed the affordable housing market demands. The same dollars built multiple projects, reached thousands of families, and created a roadmap that other cities and companies have since followed.
The evaluation took place over several months and included interviews with 17 stakeholders across tech investors, philanthropic foundations, developers, and public agencies, and documents both the direct and indirect impact of the Fund:
- Funded 75 affordable housing projects across 33 cities and 11 counties in Northern California
- Created 7,800 affordable homes, including 2,246 serving the lowest-income households
- Generated $6.5 million in monthly savings for Bay Area renters
- Disbursed more than $222 million in loans as of August 2025, some of which were reinvested 1.9 times, meaning the same dollars built multiple projects, maximizing the impact of these funds
The evaluation also documents the powerful social, health, and economic outcomes associated with affordable housing. Stable housing is linked to improved health, higher educational attainment, greater economic mobility, and stronger communities.
Building on the TECH Fund’s success, Housing Trust launched the $200 Million Building Impact Initiative in October 2025, targeting the creation and preservation of over 7,400 additional homes across the Bay Area. The Initiative brings together corporate and financial institutions, philanthropic partners, and community foundations to provide flexible, below-market capital.
To read the full evaluation, visit housingtrustsv.org.
About Housing Trust Silicon Valley
Housing Trust Silicon Valley is a Community Development Financial Institution (CDFI) using transformative housing finance and public and private partnerships to create more equitable and affordable communities. Since 2000, Housing Trust has invested $690 million in affordable housing and created 28,700 housing opportunities serving 53,800 people, leveraging $9 billion in capital with partners across the region.
Media Contact: Julia Forrest (julia@lh-pa.com)