Newly Funded

TECH Fund Helps Housing Trust Close 2nd Loan in Redwood City

Housing Trust made a $6.4 million loan to Affirmed Housing Group to acquire a site in Redwood City – drawing from our TECH Fund, which has helped finance over 3,000 homes since its creation in 2017. This Affirmed Housing project will add 90 homes to the 55 Housing Trust previously funded by preservation of affordable homes at Atherton Court in 2016.

The North Fair Oak site, which currently contains a small industrial building and auto scrap yard, is two blocks from a bus stop and walking distance to a Costco, a farmer’s market, and the Fair Oaks Community Center. Just under half an acre, the project will be six stories with a mix of studio, one, two and three-bedroom apartments. 27 of the homes will be reserved for those making up to 30% area median income (AMI), three homes up to 40% AMI, eight homes up to 45%, one up to 50% and forty-nine units up to 80% AMI. Of the 90 units planned, ten are intended to be set aside for adults with developmental disabilities.