Livermore, CA (April 18, 2018) – On Wednesday April 18th, Livermore Mayor John Marchand will join other city leaders to celebrate the groundbreaking of Chestnut Square – an affordable rental apartment community being developed by MidPen Housing in the heart of Livermore. The ceremony begins at 11:00am at 1651 Chestnut Street in Livermore.
Chestnut Square Senior Housing represents the first phase of a longtime vision to transform a previously underutilized site into a vibrant intergenerational community where people of all ages and incomes will live with easy access to public transportation and many community amenities both onsite and nearby.
“After years of envisioning and planning, I am thrilled to finally see our vision become a reality,” said John Marchand, Mayor of the City of Livermore. “Chestnut Square brings much needed affordable housing to our valued senior community members who are increasingly at risk of being priced out of the region where they’ve raised their families. Moreover, this beautiful development kicks off the transformation of an underutilized commercial site into a wonderful community that will be an asset to our city for years to come.”
Expected to open in summer 2019, Chestnut Square Senior Housing will provide 72 rental apartment homes affordable to low-income seniors. Five apartments will be set aside for formerly homeless households. Phase 2, set to begin construction within the next year, will be developed by Warmington Residential and result in 44 market-rate for sale townhomes. MidPen will develop the third phase which will produce an additional 42 affordable rental workforce homes for families and a shared community courtyard and BBQ area.
“This is MidPen’s first development in Livermore and we’re honored to partner with the City on their vision to incorporate affordable housing as an integral component of their town center,” said Matthew O. Franklin, President of MidPen Housing. “Chestnut Square Senior Housing and the extended community to come is a tremendous model for infill development and demonstrates what can be accomplished through visionary city leadership.”
Chestnut Square will provide 69 one-bedroom and 2 studio apartments for seniors age 62 and over who earn up to 60% of Area Median Income – which is $43,860 for a single person household. The development will also include a large community room with common kitchen, a computer lab, a balance studio, a roof top patio, an arts and crafts room, and bike storage as well as one onsite manager’s unit.
In partnership with a network of third-party service providers, MidPen Services Corp. will coordinate and manage many onsite programs for Chestnut Square community members including computer workshops, financial capabilities courses, onsite health screening, group exercise classes and an array of social programs and events – all of which are designed to increase the health and well-being of the senior residents and support their ability to successfully age in place. The five formerly homeless households will receive additional supportive services as well.
MidPen Property Management Corp. will provide onsite professional property management.
Financing for the $37.3M development was provided by the City of Livermore, the California Tax Credit Allocation Committee, the California Community Reinvestment Corporation, the Federal Home Loan Bank of San Francisco AHP Program and Wells Fargo Community Lending and Investment. The architect is BAR Architects and the contractor is J.H. Fitzmaurice, Inc.
About MidPen Housing Corporation
It is the mission of MidPen Housing to provide safe, affordable housing of high quality to those in need; to establish stability and opportunity in the lives of residents; and to foster diverse communities that allow people from all ethnic, social, and economic backgrounds to live in dignity, harmony and mutual respect. Since 1970, MidPen has developed and professionally managed over 8,000 homes for low-income families, seniors and those with special needs. With offices in Foster City, Oakland, Santa Rosa and Watsonville, MidPen works in 11 Northern California counties. For more information visit: www.midpen-housing.org