Builders Pledge Profits to Housing Trust

SANTA CLARA, CA-A partnership of three regional developers said this week that they would donate a total of $400,000 worth of profits from home sales to the Housing Trust of Santa Clara County.

By Allison Landa | Updated on August 30, 2000

Three Silicon Valley developers have promised to donate portions of local home sales to the Housing Trust of Santa Clara County, which seeks to assist needy area buyers.

Rivermark Partners, a partnership of Centex Homes, Shea Homes and Lennar Communities, this week said that it would donate $200 from each home sale in its planned Santa Clara, Calif., community.

The housing trust seeks to raise $20 million within two years and to help area residents in three ways: Working with first-time home buyers, helping to find affordable rental homes, and giving aid to local homeless shelters. The trust has a goal of assisting 5,000 families.

Through building at least 2,000 new homes in the area, Rivermark says it will generate at least a $400,000 donation to the trust. About 13% of those homes will be earmarked as affordable housing.

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