Listen to this note:
The supervisors of the San Mateo County allocated more than $40 million to stimulate the development of new affordable housing to support workers, youth and families who live, work or study in the area.
Spread across seven projects, the funds would contribute to the creation of 431 new affordable housing units from Daly City to Menlo Park, with more than $21 million in funding coming from the voter-approved Measure K half-cent sales tax, which provides local funding for local needs.
“High rents and massive mortgages hurt working people – and our children – who are forced to choose between grueling commutes to work or moving out of the region,” said Warren Slocum, chairman of the Board of Supervisors.
“The solution to the housing crisis is simple: build more housing. And that is exactly what we are contributing to with this investment of Measure K funds,” he stressed.
Over the past decade, county supervisors have committed more than $300 million to protect, preserve and build affordable housing.
Together, the projects would provide affordable housing for low-income seniors and families, farmworkers, former foster youth, people with developmental disabilities, and other targeted populations.
Additionally, the projects represent a mix of rental units and homes available for purchase.
By a 5-0 vote, the Board approved the projects based on a number of criteria, including readiness and competitiveness for additional state and other funding sources.
Seven projects, 431 future homes
In total, the Board allocated $40,531,131 for the seven developments. In addition to Measure K funds, sources include $16,505,645 in the county housing authority’s Moving to Work program, which earmarked federal dollars to increase housing options for low-income families.
Among the projects approved for financing are Linc Housing's Hill Street Apartments, Belmont, which would provide 37 new units on a city-owned parcel at Hill Street and El Camino Real, near the Caltrain station.
Cypress Point, Moss Beach: Developed by MidPen Housing, the project would provide 71 new units at Carlos Street and Sierra Street in Moss Beach, while Ridge@Ralston, in Belmont, would provide 65 units and be developed by Abode Housing/CRP Affordable and would be built less than two blocks east of Caltrain and El Camino Real.
Additionally, 493 Eastmoor in Daly City, where The CORE Companies proposes to build 72 units on the northwest corner of Eastmoor and Sullivan avenues, steps from the Colma BART station; and Rotary Gardens in South San Francisco, to be developed by Beacon Development and the South San Francisco Rotarians, would create 80 units of senior housing in the downtown area, including some units for homeless seniors and frail elderly.
Independence Drive in Menlo Park is a project where Habitat for Humanity Greater San Francisco plans to build 18 affordable townhomes for first-time homeowners, and Serramonte del Rey in Daly City is seeking to build 88 units of Eden Housing is proposed with the Jefferson Union High School District, the owner of the property being redeveloped on Serramonte Boulevard.
You may be interested in: Climate crisis puts the economy in check, dragging down housing policies
