When it is complete in fall 2020, the development will feature 68 one-, two- and three-bedroom apartments affordable to households with incomes up to 30%-60% of Area Median Income (currently $44,000-$87,960 for a family of four). 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.
For more information about BRIDGE, visit www.bridgehousing.com.
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