a client story > Community Real Estate

Community Real Estate program overview: In FY2008, Opportunity Fund invested more than $10 million in affordable housing and community infrastructure projects.  These investments will help build 250 new affordable homes for low-income families, as well as a community center for thousands of at-risk youth.

At-a-glance

Client: YMCA of San Francisco

Loan: $4,652,000

Location: Bayview/Hunters Point

Population served: 10,372 children under 17

Community Real Estate Profile

With 20% of its residents living on less than $15,000 a year and a 30% unemployment rate, Bayview/Hunters Point is one of the Bay Area’s most troubled neighborhoods. Children are particularly at risk: Bayview has a high rate of children living in poverty, a 40% high school drop-out rate, and a high youth incarceration rate. Homicide is the leading cause of death for youth in the neighborhood.

Opportunity Fund is responding to the critical need for youth services in Bayview/Hunters Point by providing $4.6 million in financing to improve the local YMCA, tripling the space available to serve at-risk youth. The YMCA is a trusted and valued presence in the Bayview community. With our help, the Y will be able to provide safe and inclusive programs and services to more than 10,000 low-income children and their families.

The IDA Savings program has given me hope for a better future.  It was like a life line, I no longer feel as if I am drowning.
Dennis Lalor, President/CEO,
South County Housing

Leveraging IDAs to Achieve Home Ownership
Opportunity Fund partners with the City of Sunnyvale and South County Housing to find creative ways to help working families trade the insecurity of rising rental costs for the stability of homeownership. Clients on waitlists for affordable homes enroll in our IDA program to get financial training to become mortgage-ready and save for a down payment.