(EDITOR’S NOTE: The development cost for the project is $42 million, or roughly $626,865 per unit, according information provided by the developer.)
REDWOOD CITY, Calif. (On April 11, 2019) – San Mateo County Board Supervisor Warren Slocum, North Fair Oaks Community Council Member Blair Whitney, and other local leaders celebrated the groundbreaking of 2821 ECR Apartments, an affordable residential rental community being developed by Palo Alto Housing (PAH) in the North Fair Oaks neighborhood of San Mateo County, California.
Plans call for 67 studio and one-bedroom apartments serving low-income families, veterans and individuals with special needs earning up to 70 percent of the San Mateo County Area Median Income (AMI). 2821 ECR Apartments was designed by the architecture firm Dahlin Group Inc. L&D Construction is the general contractor.
According to Randy Tsuda, Palo Alto Housing’s President and Chief Executive Officer, “We are excited to commence construction on this beautiful, new residential community that will bring hope and an enhanced quality of life to many special members of our community. We are grateful to our partners and San Mateo County officials who are enabling us to add much-needed affordable housing to the Bay Area.”
Centrally located at 2821 El Camino Real in Redwood City, between Berkshire and Dumbarton Avenues, 2821 ECR Apartments is situated within walking distance of grocery, pharmacy, restaurants and public transit. Beautiful, water-consciously landscaped open area, a barbeque grill, community kitchen, computer lab, and a picnic area will support a variety of activities for residents, complete with gathering spaces and areas for fitness and communal meals.
On-site parking, accessible by an elevator and garage entry on El Camino Real provides for 50 spaces, including guest parking, two accessible spaces, and three Electric Vehicle (EV) charging stations. To encourage the use of sustainable means of transportation, enclosed bicycle parking and a bicycle repair station will be provided for residents. In addition to the 45 resident bicycle parking spaces, four bicycle outdoor parking spaces will be provided for guests.
Green building design will be incorporated to enable long-term sustainability and health of the building and its residents, according to Tsuda. The new development will target LEED Gold certification.
Financing for the approximately $42 million development is provided by the County of San Mateo through voter-approved Measure K, Wells Fargo Bank, N.A., Federal Home Loan Bank of San Francisco, and California Community Reinvestment Corporation. Acquisition funding was provided by Housing Endowment and Regional Trust of San Mateo County.
“Wells Fargo is committed to providing financial solutions that support the development of affordable housing in areas where there are the biggest needs, like the Bay Area,” said Daniel Perl, Senior Vice President in Wells Fargo’s Community Lending and Investment group. “The need in Redwood City and throughout San Mateo County is particularly acute, and we’re proud to have helped support this much-needed community that will provide housing for some of the Bay Area’s most vulnerable citizens, including veterans and formerly homeless households. We’re thrilled to partner with Palo Alto Housing on this site.”
“I’m thrilled to support Palo Alto Housing on this exciting opportunity to provide affordable housing to families and veterans that will improve their overall quality of life right here in North Fair Oaks,” said Supervisor Slocum. “We are stronger as a county when we recognize what affects one of us affects us all. We look forward to continuing to support organizations who strive to make San Mateo County a place everyone can call home.”
On-site services for all residents will include a full-time service coordinator to organize job readiness programs, educational assistance, financial planning courses, and counseling services. PAH will partner with MHA, an organization specializing in offering supportive services and has a long history of working with other service agencies in North Fair Oaks and throughout San Mateo County, as well as the Menlo Park Veteran Affairs office and San Mateo County Behavioral Health and Recovery Services. Services will be designed to ensure housing stability, promote health and wellness, and encourage social integration.
PAH has a significant pipeline of new development projects with more than 400 new residential units in various stages of planning and development throughout the San Francisco Bay Area including Eagle Park Apartments, a 67-unit affordable apartment community nearing completion in Mountain View, which will house low-income veterans and households earning up to 60 percent of the Santa Clara County Area Median Income (AMI).
For more information about 2821 ECR Apartments or to be placed on the interest list, visit pah.community.
About Palo Alto Housing
With 49 years of service, non-profit Palo Alto Housing (PAH) builds, develops, acquires, and manages low- and moderate-income housing in the San Francisco Bay Area. Showcasing a portfolio of over 700 owned and managed units located on the Peninsula, PAH provides high-quality, award-winning housing with subsidized rents, to the greatest degree possible, and supports its residents in reaching their goals through its robust Resident Services program. Palo Alto Housing continues to expand its portfolio and focuses its future housing efforts along transit corridors on the Peninsula. For more information, visit www.pah.community.