68 affordable apartments for families
SAN MATEO, CA (March 28, 2019) – Nonprofit BRIDGE Housing and its public- and private-sector partners today will celebrate the groundbreaking of Bay Meadows Affordable; the program will take place at 12 noon at 2775 S. Delaware Street, San Mateo.
When it is complete in fall 2020, the development will feature 68 one-, two- and three-bedroom apartments affordable to households with incomes between 30% and 60% of Area Median Income. Thirty-four of the 68 apartments will have Project-Based Section 8 subsidy and will be filled with referrals from the Housing Authority of the County of San Mateo, and 16 apartments will be filled with referrals from Veterans Affairs and the Continuum of Care.
Planned community amenities include a large community room, a multipurpose room, a laundry lounge that overlooks the landscaped podium courtyard and play structure, and management offices. The property also includes two meeting rooms for service providers to meet individually or in small groups with residents as needed.
“We’re proud to be part of a transformative, transit-oriented development that adds to the neighborhoods of Bay Meadows,” said Cynthia Parker, President and CEO of BRIDGE Housing. “With a deep range of affordability and high-quality services, this place will have the power to change people’s lives.”
Financial partners for Bay Meadows Affordable are the City of San Mateo, County of San Mateo, San Mateo County Department of Housing, National Equity Fund, Silicon Valley Bank, Walker Dunlop, HEART of San Mateo County, the U.S. Department of Housing and Urban Development and the California Tax Credit Allocation Committee. The architect is Leddy Maytum Stacy Architects and the general contractor is Cahill Contractors.
Among the expected speakers at the groundbreaking: Diane Papan, Mayor, City of San Mateo; Rick Bonilla, Council Member, City of San Mateo; Katie Fisher, Vice President, Silicon Valley Bank; and Brad Wiblin, Executive Vice President, BRIDGE Housing Corporation.About Bridge Housing
BRIDGE Housing Corporation, a leading nonprofit developer and owner of affordable housing, creates and manages a range of high-quality, affordable homes for working families and seniors. Since it was founded in 1983, BRIDGE has participated in the development of more than 17,000 homes. For more information, visit www.bridgehousing.com.