Affordable Housing Lending for Nonprofit Developers

Creating safe and affordable housing and community facilities is an essential part of building strong, vibrant communities. As the premiere provider of predevelopment and gap financing in Silicon Valley, Opportunity Fund plays an important role in the ongoing effort to meet the region’s enormous need for affordable housing. With a 13-year track record and close relationships with all the active nonprofit developers in the area, Opportunity Fund provides either early-stage or later-stage subordinate financing to nearly every project to develop permanently affordable housing in Silicon Valley.

Opportunity Fund manages more than $20 million in funds for multi-family housing, homeownership projects, homeless and transitional housing, and other community facilities, like childcare centers and social service agencies.  Opportunity Fund supplies nonprofit developers with financing for predevelopment expenses, land acquisition, and fills financing gaps at the construction and permanent financing stages when conventional lenders cannot provide the necessary project funding. By providing both early-stage financing necessary to get affordable housing projects off the ground, and flexible, subordinated gap financing to move projects along when conventional sources cannot meet the need, Opportunity Fund serves as a leader in the development of housing and community facilities for Silicon Valley’s low-income neighborhoods.

 
Community Real Estate Lending and the New Markets Fund

The New Markets Fund offers permanent financing for non-profit and for-profit real estate projects providing high community impact in low-income areas. These loans are made using capital generated from Opportunity Fund's allocation of New Markets Tax Credits, a federal program designed to spur private capital investment in low-income communities.

Opportunity Fund's New Markets Fund makes these loans in low-income areas in the counties of Santa Clara, San Mateo, Alameda, and San Francisco.

Opportunity Fund's loans to National Hispanic University in San Jose and Preservation Park in Oakland were the first two New Markets Tax Credit loans in the San Francisco Bay Area.

In the summer of 2007, Opportunity Fund made a third loan to the Native American Health Center in Oakland.

Contact the Real Estate Team