""This fund gives us the flexibility to meet the challenges of today while building the affordable housing systems our region will need tomorrow," said Noni Ramos, chief executive officer of the Housing Trust."
""We believe everyone deserves a place to call home," said Kristina Raspe, Apple's vice president of global real estate and facilities."
""Together, we're able to find new solutions to complex challenges that prioritize people, our communities, and environmental sustainability," Raspe said."
""Home ownership is central to achieving community stability and improving on social and economic outcomes," said Courtney Williams, an executive vice president with Walnut Creek-based Mechanics Bank."
Housing Trust Silicon Valley launched a $200 million fund aimed at creating or preserving 7,400 affordable housing units across the Bay Area. The fund intends to accelerate affordable residential development by providing flexible financing to address current challenges and build future housing systems. Corporate and banking partners including Apple, U.S. Bank, PNC, Wells Fargo, and Mechanics Bank are providing funding. Apple was named the 2025 Housing Champion and will continue supporting regional affordable projects. The Building Impact Initiative associated with the fund targets an estimated $5.7 million in annual rent savings for low-income households and ties housing to community stability and improved social and economic outcomes.
Read at The Mercury News
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