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Bay Area Transit-Oriented Affordable Housing Fund
Project type
Building Project
Location
San Francisco Bay Area, California
Description: The Bay Area Transit-Oriented Affordable Housing Fund (TOAH) $40 million initiative promotes equitable transit-oriented development across the nine-county Bay Area. The fund provides financing for development of affordable housing, community services, fresh food markets and other neighborhood assets near transit lines throughout the area. Originally launched in 2011, the TOAH has revised the initiative to better meet the area’s current and future housing needs.
The fund is sponsored by the Great Communities Collaborative and seeded with a $10 million investment from the Metropolitan Transportation Commission. TOAH loans will be originated by the Low-Income Investment Fund, Corporation for Supportive Housing, Enterprise Community Loan Fund, Local Initiatives Support Corporation, and Community Vision (formerly Northern California Community Loan Fund).
What makes it different: The units developed by this fund are in close proximity to high-quality public transit, which is a meaningful strategy to help working families save money and connect to job centers. Additionally, the development intentionally incorporates equity and sustainability into planning to help address persistent challenges such as racial and economic disparities and climate change.
Resource: http://www.bayareatod.com
Contact: Visit this website for a list of partner contacts.