The non-profit Housing Trust Silicon Valley believes everyone deserves a place to live and a chance to succeed. Luckily for them, even mega-donor MacKenzie Scott holds a similar sentiment. Always one to turn intentions into actions, the 54-year-old has donated $30 million to fund affordable housing in the Bay Area. The San Jose-based nonprofit, dedicated to the development of affordable housing across the region, received this generous gift, as reported by the San Jose Mercury News.
The author and ex-wife of Amazon founder Jeff Bezos, with a net worth of $34.8 billion, will help boost the Housing Trust, though the organization did not specify how many affordable homes will materialize from Scott’s donation. She made the contribution through her Yield Giving philanthropic fund, aiming to create more equitable and affordable communities in the 14-county greater Bay Area. It is the non-profit’s largest individual donation in its 25-year history.
This benevolence couldn’t have come at a better time, as the organization, founded in 2000, completes a quarter of a century of funding affordable housing solutions. Housing Trust has successfully financed projects such as the Meridian Apartments in Sunnyvale, Sango Court in Milpitas, Casa Sueños in Oakland, and Kifer Senior Apartments in Santa Clara. In total, the organization has helped create more than 50,900 affordable homes for the region’s workforce, families, seniors, and special needs residents, according to its website, a commendable feat made possible by $615 million invested into the community. “The $30 million gift will allow Housing Trust to accelerate its work and scale efforts to address the region’s growing affordable housing crisis,” the organization said in a statement.
A beacon of hope, the Housing Trust Silicon Valley-
For 25 years, Housing Trust Silicon Valley has stood as a beacon of hope and progress in the business of benevolence. Now, it’s received a remarkable boost from MacKenzie Scott, an incredible partner in tackling one of the Bay Area’s most pressing challenges—affordable housing. In addition to donations, the nonprofit utilizes innovative tools like investment options and developer financing, partnering with lenders to make affordable housing a reality. Their mission thrives through collaboration, with an astounding $8.1 billion leveraged from their partners.
At Meridian Apartments, in partnership with Related California, Housing Trust helped create 90 affordable units for families in one of the region’s most expensive cities. Among the success stories is Lissa, a mother of three who survived homelessness. After moving into a two-bedroom apartment, her children finally had rooms of their own for the first time. “I know that there’s always light at the end of the tunnel, and the lights shine so bright over here,” Lissa shared per the website.
MacKenzie Scott’s generous donation to Housing Trust will help turn more of these dreams into reality, offering hope and homes to families in need.
