Housing Trust Fund Ventura County (HTF Ventura County) is helping to successfully change the landscape of Ventura County’s affordable housing market. Its three newest funding projects would not be possible without ongoing community funding support and grants.
Recently, HTF Ventura County was notified by the U.S. Department of the Treasury that it is one of 73 recipients of a Technical Assistance grant. The $125,000 grant doubles to $250,000 due to State Proposition 1’s fund matching program. “Earlier this year we set a lofty $5 million fundraising goal by the end of 2019,” stated Linda Braunschweiger, CEO of Housing Trust Fund Ventura County.
Ventura’s Willett Ranch, located at 54 and 55 Willett Street, is part of the new Solana Heights residential community. It will include the new construction of 50 one- and two-bedroom apartments for extremely low income seniors, with 15 apartments designated for permanent supportive housing for homeless households. It is estimated that 75-80 seniors will become residents of Willett Ranch. Construction is set to begin in November.
Ventura’s El Portal Building, located at 1238-1288 North Ventura Avenue, is a two-story building constructed in 1929. After falling into disrepair, Triad Properties, a nonprofit corporation associated with the Housing Authority of the City of San Buenaventura purchased the mixed-use property with plans to reconfigure 33 current living spaces, storage and commercial space into 28 to 30 more suitable apartments for homeless individuals, those with special needs, and very low income adults. HTF Ventura County provided a $700,000 construction loan to kick-off the project.
HTF Ventura County is the local trusted leader in helping to increase affordable housing options throughout Ventura County by leveraging public-private partnerships to provide low-cost, flexible loans early in the housing development cycle. As of July 2019, HTF Ventura County has invested $4.7 million through its revolving loan fund, creating 143 affordable apartments and homes for very-low, low- and middle- income employees, transitional age foster youth, veterans, farm workers, and the homeless.