money in hand
The Sonoma County Housing Fund is announcing its first three loans for critically needed affordable homes. Over 3.6 million dollars is being lent to three developments in the county that can build over 200 affordable units: Siesta Senior Apartments in Sonoma, Stony Point Flats and Acme Apartments, both in Santa Rosa. Noni Ramos, CEO of Housing Trust Silicon Valley, says that these loans will go towards land acquisition.
“Being able to actually acquire the land is very critical for projects to be able to then compete for other public and private sources of capital that would then be used for the construction and permanent financing of the project,” Said Ramos.
Sonoma County Housing Fund is a joint $10 million initiative established in 2019 between the Santa Rosa Metro Chamber and Housing Trust Silicon Valley.