Through our Supportive Housing & Innovation Fund, we’re raising and channeling private, philanthropic investments towards proven solutions for reducing and preventing homelessness. Established in 2018 with a $50 million gift from Cisco, the fund provides the private sector with a means to strategically partner with local government, leverage public funding, and share in a joint approach towards ending homelessness in our community. In late 2019, Apple also announced a $50 million contribution to the fund.
Investing in Solutions
Since its inception, the Supportive Housing & Innovation Fund has invested $71 million towards building more deeply affordable housing and pioneering innovative solutions that can help accelerate our progress towards ending homelessness in Silicon Valley.
Provided no-interest or low-interest acquisition and pre-development financing for 33 ELI & Supportive housing developments with more than 3,300 units
Made flexible capacity building grants to 8 nonprofit developers to advance construction of 1,600 new deeply affordable apartments
Funded a dedicated city planner at the City of San Jose, which reduced approval time for ELI & supportive housing projects by 2 months
Expanded capacity in the countywide Homelessness Prevention System to serve 1,700 households annually and add targeted services for victims of domestic violence
Funded an Employment Services provider to help develop living wage job pathways for recently-housed individuals
Funded the development of MyConnectSV, a new Homeless Management Information System user portal for homeless and formerly homeless individuals
Our Approach and Areas of Focus
Destination: Home embraces a data-driven and human-centric approach to solving homelessness – and through our Supportive Housing and Innovation Fund, we invest in strategies that address the root causes of homelessness and help ensure that our most vulnerable residents are stably housed.
In particular, our Supportive Housing and Innovation Fund focuses on investments in three primary focus areas:
Supportive & ELI Housing Development
Spurring the development of new housing opportunities for formerly homeless and extremely low income (ELI) households.
Data & Technology Utilization
Improving the use of data and technology to enhance our supportive housing system and better meet the needs of homeless and formerly homeless residents.
Homelessness Prevention & Housing Stability
Piloting and scaling innovative strategies that help at-risk residents maintain stable housing.
Through our fund, we also seek to demonstrate the unique and critical role of private sector support and philanthropic capital in ending homelessness. We carefully evaluate partners and investment opportunities, consistently evaluate progress, and course correct as needed. Before funding an opportunity, we carefully identify the need, assess value, define impact and evaluate risk.