2014 Community Real Estate
In addition to our microfinance work, Opportunity Fund operates a social enterprise, providing financing for high community impact real estate community projects using the largest federal economic development initiative, New Markets Tax Credits.
East San Jose
28,000 Square Feet
Opening August 2015
In 2014, public, private and philanthropic leaders broke ground for Educare Learning Network’s East San Jose facility. Educare is a nationwide early childhood education program that seeks to prevent a pre-kindergarten achievement gap among at-risk children who live in poverty. Opportunity Fund provided a very low interest rate loan of over $14 million in the project. This will be one of 21 Educare facilities across the country, and the first in California. The 28,000 square foot facility, located in San Jose’s Santee neighborhood, is scheduled to open in August 2015 and will serve 168 low-income young children and their families each year. Educare will also serve as California’s premier training program for early childhood educators, and be home to several community-based initiatives with impacts beyond early childhood education.
"Opportunity Fund is committed to building pathways to prosperity through education and entrepreneurship. We’re thrilled to help bring Educare to this neighborhood,” said Jeff Wells, Director of Opportunity Fund's New Markets Tax Credits program. “The young children at this facility will start an educational journey that will change the trajectory of their young lives. And the teachers trained here will have an impact on education across the nation.”
Economic stability starts in neighborhoods. Our real estate investments help create safe and vibrant communities.
“The goal here is to have a great example and resource for parents throughout the area, for teachers throughout the area, and for young children who are going to be served here.” Carol S. Larson, President and CEO, The David and Lucile Packard FoundationGive the Gift of opportunity