160 units of family affordable housing are on the way in Mountain View, thanks to a new loan secured by Charities Housing through Housing Trust Silicon Valley and its partnership with Google’s Launch Initiative. The funds were made possible through Google’s Launch Initiative and Santa Clara County’s Measure A, Affordable Housing bond. The $17.2 million loan funds the acquisition of 2.2 acres at 57 and 67 E. Evelyn Ave. in Mountain View. The family housing will be developed and managed by Charities Housing.
“Our vision for these apartments is to positively contribute to the Mountain View community and provide housing for everyone,” said Kathy Robinson, Director of Housing Development, Charities Housing. “We believe that healthy communities are the basis for thriving communities, and we hope to make this a reality with every one of our affordable housing developments.”
The partnership with Google’s Launch Initiative improves Housing Trust’s lending capacity and facilitates their investment in a broader range of affordable housing projects.
“We are excited to partner with Google and Charities Housing to make affordable housing widely accessible,” said Noni Ramos, CEO, Housing Trust. “This partnership allows us to realize our mission of creating safe, stable, and affordable housing solutions for those experiencing homelessness, for renters, and for first-time home buyers.”
Most recently, Launch Initiative has helped fund Eden Housing’s La Avenida in Mountain View, USA Properties Fund and The Pinyon Group’s Tasman East in Santa Clara, and BRIDGE Housing’s Potrero development in San Francisco.