SAN LEANDRO, CA, Feb. 19, 2015—The City of San Leandro today will celebrate the groundbreaking of Marea Alta at 11 am at 1400 San Leandro Boulevard.
This development is the first in San Leandro to be developed by BRIDGE Housing, a nationally recognized nonprofit developer, owner and manager of affordable housing.
When it is complete in 2016, Marea Alta will include 115 affordable apartment homes for families and a child care center operated by Davis Street Family Resource Center. Sited on what was formerly a BART parking lot adjacent to the San Leandro BART Station, the development will include the creation of more than 240 below-grade parking spaces for BART patrons. Removal of the existing parking lot, combined with the ground floor community-serving space, will enrich San Leandro Boulevard and promote pedestrian activity.
Rents will be set to be affordable to households earning 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 unit size, family size and household income.
“This is an incredible opportunity to bring housing and child care to a transit center with BART and bus access,” said Cynthia A. Parker, President & CEO of BRIDGE Housing. “We’re excited to be using an innovative design-build process to increase project efficiencies, and we’re looking forward to completing the family phase and moving forward with Phase II.” The second phase, currently in predevelopment, will consist of 85 units of affordable senior apartments.
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.
Among the expected speakers at the groundbreaking: Hon. Pauline Cutter, Mayor of San Leandro; Rebecca Saltzman, BART Director, District 3; Robert Raburn; BART Director, District 4; John Kauh, Wells Fargo; and Cynthia Parker, BRIDGE Housing Corporation.
Prospective resident, please contact 510.464.5990. For more information about BRIDGE, visit bridgehousing.com.
# # #
NOTE TO EDITORS: Rendering available; please contact firstname.lastname@example.org to request.