Investing in housing supply in our region is a sound investment decision. The New Way Homes Fund allows investors an opportunity to contribute to the creation of affordable housing while creating sustainable communities.


FUND HIGHLIGHTS

Local
Your investment is put to work in our region.


Simple
To individuals and businesses, New Way Homes offers a 10-year Note. Annual interest payments have a minimum payment of about 3%. The target average annual return over all 10 years is 6%.  New Way Homes has also attracted investment from foundations and impact investment funds at 3% fixed return over 5+years.


Measured, Transparent Impact
New Way Homes will measure and report on both the financial and social return on the fund, including the number and income level of deed restricted affordable housing units created.

NEW WAY HOMES GOALS

Primary Goal
The direct goal of the Fund is the creation of new affordable housing units for low and very low income households beyond that being created by government subsidy.  

Additional Goals

  • Create environmentally and financially sustainable rental housing rented at below current market rates for ALL residents who are struggling with housing costs.
  • Through collaborations with other funding sources, mission-driven developers, and local jurisdictions, be a key part of creating sufficient supply to end the rapid rise in median rent in our region.
  • Provide housing for all subsidy-supported households. In other words, create a housing market where everyone with a voucher finds a good place to use it.
  • Reduce commuting by giving everyone the option to live near where they already work.
  • Create sufficient permanent supportive housing for services-supported individuals with special needs.
  • Add to local economic growth by reducing the percentage of each households' income that is spent on housing.
  • Realize the vision of local jurisdictions for higher density areas that lessen transportation burdens and climate impact.

New Way Homes' vision is made possible by 

Grant Support:

The Inspiring Enterprise
The Hastings/Quillin Fund, an advised fund of Silicon Valley Community Foundation
Central California Alliance for Health
Nina and Sibley Simon
Diane & Richard Klein

Investors & Lenders:

Adrian Dominican Sisters Community Investment Fund
Community Foundation Santa Cruz County
Dignity Health
Housing Trust Silicon Valley
Northern California Community Loan Fund
Religious Communities Investment Fund
Santa Cruz County Bank
Rowland & Patricia Rebele
Claudia Brown & David Evans
Sandy Gmür
Diane & Richard Klein
Sally Arnold & Christine Weir
Matt Guerrieri
Michael Holton
Daniel Spelce
Yolanda Provoste-Fuentes
Ted Burke
Several Anonymous Investors

Leadership

Sibley Verbeck Simon - President

Sibley is a social entrepreneur interested in implementing solutions to complex issues of equity and opportunity in the Monterey Bay Region and California.  He co-founded the 180/2020 Initiative to end veteran and chronic homelessness in Santa Cruz County in 2012, which has now housed over 550 individuals. Sibley is also the Board Treasurer of the Homeless Services Center.  This work lead to his passion to help solve our region’s housing affordability crisis.

Previously, Sibley was a founder of two technology companies, StreamSage and The Electric Sheep Company, which were repeatedly recognized as highly innovative, including by two Technical Emmy Awards, the MIT Technology Review, and grants and contracts from six different federal agencies and 50 Fortune 500 Clients.  In parallel, he supported the founding of other organizations working to improve the social impact of capital, including the I Do Foundation, the Responsible Endowments Coalition, and Transform Finance.

 

Dino Thomas Adelfio 

Dino works on organizational development and finance for New Way Homes. He spends his time engaging local partners, investors and traditional capital sources to solve one of the regions most pressing problems, an insufficient housing supply that adversely effects the lives of middle and low income families. 

Dino has professional experience in entrepreneurship, PE and finance. He has degrees or certifications in economics, real estate and public health. In addition to advancing multi-family development projects, Dino enjoys urban planning and adventure sporting. 

Dino.jpg

 

Board of Directors

Maria Cadenas • Executive Director, Santa Cruz Community Ventures.  Over 15 years of working at the intersection of philanthropy, activism, finance, and diverse, under-served communities.

Robert Davidson • CEO, Canyon View Capital.  Over 30 years managing residential rental real estate investment funds and previous work as a CPA.

Kim Edmonds • Founding Principal, Ventura Partners. Over 20 Years experience work with non-profits to execute commercial developments and previous experience in affordable housing development.

Owen Lawlor • Managing Member, Moss Beach Associates, LLC. Over 20 years of experience in all aspects of the Residential and Commercial Real Estate Development Process with special emphasis in governmental relations within the Land Use entitlement process.

Aura Oslapas • Principal, A+O Design Partners. Over 30 years as a design professional, including experience design, product design, and design management & strategy.

James Rector • CEO, RC Cubed. Provides funding for solar installations at non-profits and public buildings via impact investors.

Micah Silvey • Director, Certification, Green Building Certification Institute. Manages team responsible for all LEED certifications and the development & rollout of new certification programs.

Robert Singleton • Founder, Civinomics. Current work includes housing policy recommendations and research for the Santa Cruz County Business Council and Association of Realtors.

Christine Sippl • Senior Director of Programs & Strategic Partnerships, Encompass Community Services. As Senior Program Manager for Santa Cruz County’s Homeless Person’s Health Project, helped create permanent supportive housing in Santa Cruz County and partnered to form the 180/180 Initiative.

 

Legal Support & Capital Raise Strategy:  Cutting Edge Capital

CPA & Auditor:  Walters & Kondrasheff