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Located in Santa Cruz, the Downtown Library & Affordable Housing Project will consist of 124 units of affordable housing for families earning up to 60% of the Area Median Income (AMI).
Amenities will include a modern public library with resources for all, a childcare facility, a fitness gym, and a public parking component to serve the downtown retail community with parking spaces for vehicles and bicycles. In addition, there will be an on-site after-school program, a community center, community gardens, a computer learning center, a fitness center, wi-fi in community spaces, and financial coaching services available. Sustainability features include electric vehicle charging stations, high efficiency light fixtures and appliances, and energy star rated appliances.
We are proud to have provided a $817,000 predevelopment loan to For the Future Housing through our Monterey Bay Housing Trust (MBHT) and from our TECH Fund. MBHT is a collaboration between Housing Trust and the Monterey Bay Economic Partnership (MBEP) that finances affordable housing throughout Monterey, Santa Cruz, and San Benito counties. We created the TECH Fund to give large employers and philanthropic organizations a way to make a tangible impact on affordable housing and provide developers with flexible financing.
Part of an overall vision for Downtown Santa Cruz, the Downtown Library & Affordable Housing Project is jointly developed by For the Future Housing and Eden Housing. The momentum of this partnership continues to grow – in May, we funded Pacific Station North with For the Future Housing and Eden Housing. We are excited about this collaboration and look forward to growing our impact for our neighbors in the Monterey Bay/Santa Cruz region!
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