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California  + Bay Area  + Apartments  | 
Innovative TRiO Program Secured Another $6M in Funding

Innovative TRiO Program Secures Another $6M in Funding

Teachers Rooted in Oakland (TRiO), a unique program that offers discounted housing and philanthropically-funded housing stipends to Oakland United School District (OUSD) teachers, has secured $5 million in funding from the State of California and another $1 million from Bank of America.

The program, which focuses on Black, LatinX and other teachers of color, is an affordable housing marketplace that allows the OUSD’s 2,000 teachers to search and apply for local apartments at discounted rates. This summer, 23 teachers have signed leases at below-market rents thanks to the TRiO program.

“The very people we trust to inspire and prepare our students face immense barriers to finding comfortable, safe housing near their schools that they can actually afford. I’m proud that a pilot program from our office has grown into systemic change that supports Oakland’s beloved teachers,” said Oakland Mayor Libby Schaaf.

Yat-Pang Au from property firm Veritas, which is participating in the program, said, “Housing and education go hand in hand. I want to encourage all property firms and owners to look a their portfolio and see how they can participate in TRiO.”

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About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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