(San Jose, CA: November 8, 2004) Every dollar invested in the Housing Trust of Santa Clara County creates $45 of affordable housing. At the current rate of investment, our initial investment goal of $20 million will create housing valued at $1 billion!
But we're not resting on our laurels: In September and October, 2004 the Housing Trust of Santa Clara County committed to invest $1,100,000 in three new affordable housing developments in San Jose and Sunnyvale.
“These new investments represent the Trust's ongoing efforts to help create affordable housing opportunities in Santa Clara County. We actively seek community funding support so that we can work with developers of affordable multifamily rental housing and housing for those with special needs,” said Housing Trust of Santa Clara County Executive Director Roccie Hill.
New investments are:
o With a Housing Trust loan of $100,000, Housing for Independent People (HIP) will open 5 units of affordable rental housing for people with HIV/AIDS in San Jose in the fourth quarter of 2004. The total cost of the development is $484,000.
o A Housing Trust loan of $500,000 will help Charities Housing Development Corp. create 117 units of affordable multifamily rental housing on Senter Road in San Jose. Estimated completion of the $37 million development is December, 2006.
o In Sunnyvale, Christian Church Homes of Northern California's Plaza de las Flores is a 101-unit affordable rental development for seniors. The Housing Trust's $500,000 loan will help create affordable housing valued at $16.7 million; estimated completion is first quarter 2005.

About the Housing Trust of Santa Clara County The Housing Trust of Santa Clara County, an affordable housing investment trust, offers loans and grants to create affordable housing opportunities. Since we began distributing funds in 2001, the Trust has helped more than 1,260 families buy their first homes in Santa Clara County; enabled the development of hundreds of units of affordable rental housing, worth more than $232 million; and helped create hundreds of units of shelter and special-needs housing in our community, making it possible for more than 3,891 people like teachers, police officers, firefighters, nurses and civic employees to live in the communities they serve. To date, the Housing Trust of Santa Clara County has leveraged the creation of affordable housing worth more than $733 million.

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