Posted on: December 18, 2023
More than 300 multifamily rental units will help ease housing crisis in two cities
Source: Palo Alto Online; Author: Emily Margaretten
A rendering of the proposed affordable housing development on Terra Bella Avenue in Mountain View. Rendering courtesy Alta Housing.
Taking steps to address the region’s housing crisis, Santa Clara County has committed $47.4 million to help pay for six affordable housing developments, with $31.4 million allocated for projects in Palo Alto and Mountain View.
The Santa Clara County Board of Supervisors unanimously approved the funding at its Dec. 4 meeting, the latest round of affordable housing commitments in a larger initiative to bring 4,800 affordable housing units to the region.
The bulk of the funding for the six projects, $36.1 million, comes from the $950 million Measure A housing bond that voters approved in 2016. The rest comes from other county and state programs that support housing initiatives for the homeless and those in need of mental health services as well as intellectually or developmentally disabled populations.
The six projects – three in San Jose, two in Mountain View and one in Palo Alto – will create 716 new multifamily rental units, with a substantial portion of the units, approximately 44%, in Mountain View and Palo Alto, according to the county’s press release.
Here is a breakdown of the affordable housing projects going up in Mountain View and Palo Alto:
1020 Terra Bella Ave., Mountain View
The 108-unit affordable housing development will receive $10.5 million from the county. The developer, Alta Housing, plans to build 27 extremely low-income units for households earning up to 30% of the Area Median Income (AMI), 13 very low-income units for households earning up to 50% AMI, 39 low-income units for households earning up to 60% AMI and 27 rapid rehousing units for homeless individuals and families with special needs. The project has secured $13.5 million in funding from the city of Mountain View.
96 West El Camino Real, Mountain View
The 79-unit affordable housing development will receive $7.9 million from the county. The developer, Danco Communities, plans to build 38 low-income units for households earning up to 60% AMI, 16 very low-income units for households earning up to 50% AMI and 12 permanent supportive housing and 12 rapid rehousing units for homeless individuals and families with special needs. The project is receiving $7.9 million in funding from the city of Mountain View.
3001 El Camino Real, Palo Alto
The 129-unit affordable housing development, the largest of its kind in Palo Alto, will receive the biggest contribution from the county, which is providing $13 million for the project. The developer, Charities Housing, plans to build 30 extremely low-income units for households earning up to 30% AMI, 65 very low-income units for households earning up to 50% AMI and 32 rapid rehousing units for homeless individuals and families with special needs. Charities Housing is requesting $5 million in funding from the city of Palo Alto, according to the county’s Office of Supportive Housing.
To date, the county has committed nearly all of the $950 million Measure A housing bond. Approximately $32.4 million remains to support other affordable housing programs and developments.
“The impact of the 2016 Measure A on this region has been incredible and we must find ways to continue this momentum to keep improving the quality of life for everyone who lives here,” said Consuelo Hernandez, director of the office of supportive housing, in the press release.
Read the full article here.
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