Posted on: January 15, 2025
Developers are proposing to build more than 400 units of affordable housing on E. Evelyn Avenue
Source: Mountain View Voice; Author: Emily Margaretten
Mountain View recently approved the appropriation of $19.3 million to help finance two all-affordable housing developments, located at 87 E. Evelyn Ave. (shown in blue) and 57 and 67 E. Evelyn Ave. (shown in orange). Courtesy city of Mountain View.
In a boost for affordable housing, Mountain View has set aside nearly $20 million in funds for two new housing developments that will serve low-income residents on two properties right next door to each other.
The proposed projects, located at 87 E. Evelyn Ave. and 57 and 67 E. Evelyn Ave., received funding through the city’s Notice of Funding Availability process. Since 2014, the city has appropriated $149 million, facilitating the development of more than 900 affordable housing units.
The City Council approved the most recent appropriation, $19.3 million, as a consent item at their Dec. 17 meeting.
Combined, the two neighboring projects will add 411 affordable units to the city’s housing supply, with a large number reserved for individuals and families experiencing homelessness or at risk of homelessness.
Affirmed Housing is proposing to build a 268-unit apartment complex, across two buildings, at 87 E. Evelyn Ave., which is currently a safe parking site for vehicle dwellers. Of the 268 units, more than half have been designated for very low and extremely low-income households. A large number of units also are planned for larger-sized families, as two and three-bedrooms.
Affirmed Housing, an affordable housing developer, is proposing to build a 268-unit apartment complex at 87 E. Evelyn Ave in Mountain View. Rendering courtesy city of Mountain View.
When Affirmed Housing pitched the project to the city more than a year ago, it requested an $8 million subsidy, edging out its top competitor, Charities Housing. At the time, council members expressed concern that the request was too good to be true, as other developers were asking for a lot more money.
But Affirmed Housing has not wavered from its original request, and the city allocated $8 million to help fund the project at the Dec. 17 meeting. The total anticipated cost is approximately $224 million, with the bulk of the financing coming from federal and state tax credits, according to the council report.
“It’s one of the lowest requested subsidies since my time on the council,” said City Council member Lucas Ramirez who also serves as the NOFA committee chair.
“I’m personally excited to see it that low,” he told the Voice, adding that it could set expectations for future projects.
The project is being developed on city-owned property, which also helps, Ramirez said. Mountain View’s total contribution is $21 million when adding in the land value.
Right next door, Charities Housing is proposing a five-story affordable apartment complex at 57 and 67 E. Evelyn Ave. The City Council has allocated $11.3 million for the 143-unit project, lower than the $18 million the developer had originally requested. The allocation gives it funding parity with Affirmed Housing, as both projects pencil out to about $79,000 in city funding per unit, according to the council report.
A lot of coordination has already happened across the two sites, with the developers planning for shared access to public spaces and services. It’s part of a master plan for the area, Ramirez said.
Mayor Pat Showalter also remarked on the synergy between the two sites. “Putting the two together creates so many more possibilities,” she said.
The Charities Housing project, although smaller in size than its neighbor, will still have a big impact with about a third of the units set aside for very low and extremely low-income residents. More than half of the units also are two and three-bedrooms, helping to fill a critical housing need for larger-sized families.
The total anticipated cost of the project is approximately $137 million, with a large part of the financing relying on tax credits and loans, according to the council report.
Because of the affordability levels, both housing projects qualify for a streamlined approval process under state law. Staff are tentatively expecting both applications to be approved in the coming months.
“We’re very excited to see these projects advance and see them deliver affordable housing,” Ramirez said. “Mountain View has ambitious housing goals, a lot of which is mandated by the state and it’s essential to meeting those goals. This will help.”
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