HEART makes $3.5M loan for land acquisition in North Fair Oaks neighborhood of Redwood City. This is HEART’s largest loan to date, and the first partnership with Palo Alto Housing for 67 units of housing for low and very-low income families and homeless and at-risk veterans.
Developer Loan Results
HEART made a $500K loan to Ocean View Senior Apartments in Pacifica in 2008 for a new roof. BRIDGE Housing bought the property from National Church Residences in 2016 and HEART restructured the loan to enable needed renovations. Read more, and to apply for housing: http://www.bridgehousing.com/properties/oceanview
HEART has provided a $500,000 loan for Bay Meadows Affordable Housing, a 68-unit apartment complex on South Delaware Street in San Mateo. To apply for housing please contact: http://www.bridgehousing.com/ or call Tel: 415.989.1111
Grand opening in March, 2016. HEART made a $700,000 loan to Core Affordable Housing for the development of 60 units of affordable apartments for very-low and extremely low-income families, including at-risk and homeless veterans and their families on the Menlo Park VA site.
HEART made loans for land acquisition to EPA CAN DO in East Palo Alto. MidPen Housing has partnered with MidPen for 41 units of affordable senior housing on University Avenue, and repaid the HEART loans, thus allowing the funds to be reinvested in the community.
In October 2015 National Church Residences completed the sale of Ocean View senior housing in Pacifica to BRIDGE Housing. HEART restructured a $500k loan to preserve affordability. Read more…..
HEART approved a $500K loan to Habitat for Humanity GSF for land acquisition on Jefferson Ave. in Redwood City for proposed 16 homes on Jefferson Ave.
Thanks to our 380 guests who came to celebrate “Ten Years: A Thousand Doors,” HEART’s 10th Anniversary Luncheon” on May 15 in South San Francisco. Our keynote speaker John Stewart, a noted developer in the Bay Area, rocked the room. We debuted two new films, and raised over $120K for affordable housing programs. Read and see more….
Tiffanie and Timothy K. grew up in Foster City and South San Francisco, and are grateful that they were selected to rent a new affordable apartment at Delaware Pacific in San Mateo. However, the need for affordable housing is so much greater…..read more.
HEART makes $700K loan to Mental Health Association for land acquisition in North Fair Oaks; site plans for 15 homes for special needs housing for mentally disabled individuals.This is part of Prop 1C funding.