Investing in Strong Communities
Equitable transit-oriented development (TOD) projects through Community Vision improve the lives of low income people and create healthier, financially strong and culturally vibrant communities by locating affordable housing and community services near public transit. Many low income people spend a disproportionate share of their income on costs related to housing and transportation. TOD helps alleviate this burden by reducing people’s reliance on cars and putting jobs, schools, grocery stores and other services within easy reach of home and near transit centers.
Bay Area Transit-Oriented Affordable Housing Fund
The Bay Area Transit-Oriented Affordable Housing (TOAH) Fund is a $50 million collaborative public-private initiative created to encourage inclusive transit-oriented development in the nine-county San Francisco Bay Area. This groundbreaking effort by Community Vision and our partners will provide financing to promote the development of affordable housing, as well as critical services near public transit hubs.
The TOAH Fund was seeded with an initial $10 million investment from the Metropolitan Transportation Commission. The fund partners were able to use these local funds to leverage an additional $40 million in private capital to support equitable Transit-Oriented Development from six local community development financial institutions (CDFIs), banking institutions and local and national foundations.
The Bay Area TOAH Fund offers a wide range of attractive financing products to developers and government entities for housing and mixed use projects near transit lines throughout the nine-county Bay Area. Borrowers can access predevelopment, acquisition, construction, mini-permanent and leveraged loans for New Markets Tax Credit transactions.
- Metropolitan Transportation Commission
- Great Communities Collaborative
- Ford Foundation
- Living Cities
- San Francisco Foundation
- Citi Community Capital
- Morgan Stanley
- Corporation for Supportive Housing
- Enterprise Community Loan Fund
- Low Income Investment Fund
- Bay Area Local Initiatives Support Corporation
- Community Vision
- Opportunity Fund
- Silicon Valley Community Foundation
For more information, please go to www.bayareatod.com