California's Largest Modular Affordable Development Under Construction in San Leandro
SAN LEANDRO, CA, October 30, 2015—BRIDGE Housing’s 115-apartment Marea Alta is rapidly advancing toward completion here, thanks to an innovative and efficient modular construction process. BRIDGE is a nationally recognized nonprofit developer, owner and manager of affordable housing.
According to fabricator ZETA Design+Build, Marea Alta is the largest affordable modular development in the state. Construction is approximately 38% complete, with general contractor Cannon Constructors North installing up to eight modules per day.
The modules are built under climate-controlled conditions at ZETA’s plant and assembled at the site, a former BART parking lot adjacent to the San Leandro BART Station. When it is complete in early 2016, Marea Alta will offer 115 affordable apartment homes for families, a child care center operated by Davis Street Family Resource Center and more than 240 below-grade parking spaces for BART patrons.
“These cutting-edge modular techniques deliver high quality results while saving time and money,” said Cynthia A. Parker, President and CEO of BRIDGE Housing, who estimates Marea Alta will see a 10-15% savings in residential construction costs and a potential reduction in construction time of three to four months—both critical factors given the unprecedented need for affordable housing in the San Francisco Bay Area. “We also appreciate the environmental benefits of modular, as there is a significant reduction in construction waste,” she said.
Marea Alta will serve families who earn 30-55% of Area Median Income (approximately $26,600 to $50,600 for a family of four). Monthly rents are expected to range from $493 to $1,155 depending on apartment size, family size and household income. The property will feature a playground, community garden beds, on-site laundry, bike parking and a community room for educational and wellness programs for residents.
Financing for the $58 million Marea Alta is being provided by Wells Fargo, N.A.; the California Department of Housing and Community Development; the City of San Leandro; and the Federal Home Loan Bank of San Francisco. The architect is Ankrom Moisan Architects and the general contractor is Cannon Constructors North.
Prospective residents, visit http://bridgehousing.com/properties/slfa or contact 510.464.5990. For more information about BRIDGE, visit www.bridgehousing.com.
# # #