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.
Your investment is put to work in our region.
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
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.
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
The Inspiring Enterprise
The Hastings/Quillin Fund, an advised fund of Silicon Valley Community Foundation
Central California Alliance for Health
U.S. Dept. of Housing and Urban Development (HUD)
Nina and Sibley Simon
Diane & Richard Klein
Investors & Lenders:
Adrian Dominican Sisters Community Investment Fund
Community Foundation Santa Cruz County
Housing Trust Silicon Valley
Northern California Community Loan Fund
Religious Communities Impact Fund, Inc.
Santa Cruz County Bank
Rowland & Patricia Rebele
Claudia Brown & David Evans
Diane & Richard Klein
Sally Arnold & Christine Weir
Cory Ray & Craig Rowell
Several Anonymous Investors