National Equity Fund

Path Ventures Celebrates Groundbreaking of Villas at Fourth Street

August 24, 2021

On August 23 various community leaders gathered to celebrate the groundbreaking of PATH Ventures’ Villas at Fourth Street. This permanent supportive housing development will provide homes for seniors aged 55 and older experiencing chronic homelessness. At the event, PATH Ventures’ CEO, Joel John Roberts shared, “Economic growth in the Silicon Valley has driven a gap between housing costs and income. The valley’s hub of wealth and technological innovation stands in stark contrast with one of the largest unsheltered populations per capita of any metropolitan city in the country. As a community, we recognize the need to address our regional housing crisis with regional housing solutions.”

Located in the northern portion of San Jose, approximately 1.6 miles north of downtown, Villas at Fourth Street will be a four‐story building consisting of 94‐units of supportive housing, including 65 studios, 28 one- bedrooms, and one two-bedroom manager’s unit. The studios and one-bedrooms will be targeted at the 30 and 50 percent AMI levels. Project amenities include a community room with a teaching kitchen, sitting areas, central laundry rooms on each floor, elevators, supportive services offices, a conference room, and social services. On-site assistance includes case management, mental health care, substance use treatment, life skills education, community building, and green education with a community garden. The development will include a landscaped courtyard, an outdoor lounge on the second floor and an outdoor dog run for residents with support animals. In‐unit amenities will include private outdoor balconies, central air conditioning, refrigerators, ovens, and microwaves. Forty car parking spaces will be accommodated in a surface lot on the northern and eastern portions of the site. The community will also have 54 bicycle parking spaces.

“As we celebrate the groundbreaking of Villas at 4th Street, we are proud to reflect on the last decade of NEF’s partnership with PATH Ventures,” said Debbie Burkhart, national vice president of supportive housing for National Equity Fund (NEF). “The Villas at 4th Street is our third permanent supportive housing initiative with PATH Ventures as the sole developer along with our investment partner, Bank of America, as we work together to address California’s homelessness crisis. We applaud PATH and PATH Ventures expansion into San Jose and the Bay Area, one of the most expensive housing markets in the nation, where the high numbers of unhoused individuals creates an incredible need. At NEF, our vision is that all individuals and families across the country have access to stable, safe and affordable homes that provide a foundation for them to reach their full potential. We work in collaboration with our nonprofit supportive housing developers to deliver not only shelter, but permanent housing with critical supportive services to break the cycle of homelessness. Together with PATH Ventures, we are working to address the state’s homelessness crisis not just for today, but for the long term.“

Watch the live-streamed event on PATH’s Facebook, and read the press release.

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