San Mateo Celebrates Ribbon-Cutting of 68 Affordable Homes

SAN MATEO, CA, November 19, 2020---Nonprofit BRIDGE Housing and its public- and private-sector partners today will celebrate virtually the ribbon-cutting of Montara, a new 100% affordable housing development in the Bay Meadows neighborhood.

The ceremony will be streamed at 11am Pacific Time at www.facebook.com/bridgehousing.

Montara features 68 one-, two- and three-bedroom apartments affordable to families with incomes up to 30%-60% of Area Median Income. Thirty-four of the 68 homes offer even deeper affordability with Project-Based Section 8 subsidies, 12 apartments are set aside for formerly homeless veterans referred from Veterans Affairs, and four homes will serve residents referred via the Continuum of Care.

This transit-oriented development is located less than a half mile from the Hillsdale train station and a short walk from parks, shopping and schools. On-site amenities include a large community room, a multipurpose room, a laundry lounge that overlooks the landscaped podium courtyard and play structure, and a services suite where providers can meet individually or in small groups with residents as needed.

“We know that where you live matters–it affects our quality of life, health and future success,” said Cynthia Parker, President and CEO of BRIDGE Housing. “For the families and veterans who are moving in, Montara offers deeply affordable rents, inclusive placemaking and services that narrow the gap and provide opportunities for brighter futures.”

“The entire City Council is incredibly proud of Montara, the new home for 68 families working in San Mateo, who are an important part of our community. I’m also moved that we had a ribbon cutting around Veterans Day because a portion of these units will house formerly homeless veterans. Montara sets a high bar for affordable housing; it’s beautifully designed and a perfect example of a transit-oriented development that will be directly across the street from our new Caltrain station. All of this was made possible by an incredible partnership with our nonprofits, developer and financial partners, as well as the City and the County. We very much look forward to the next affordable housing community we can create here in San Mateo,” said San Mateo Mayor Joe Goethals.

Financial partners for Montara 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, the California Tax Credit Allocation Committee and the Federal Home Loan Bank of San Francisco. The architect is Leddy Maytum Stacy Architects and the general contractor is Cahill Contractors.

The ribbon-cutting will feature remarks by San Mateo Mayor Joe Goethals; Cynthia Parker, BRIDGE Housing; Ray Hodges, County of San Mateo; Todd Fabian, National Equity Fund; Jeff Kearns, Walker & Dunlop; Fiona Hsu, Silicon Valley Bank; Kevin Blackburn, Federal Home Loan Bank of San Francisco; and Montara resident Karenrose Naval.

For more information about BRIDGE, visit www.bridgehousing.com.

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EDITORS
Link to ribbon-cutting video: https://vimeo.com/480963678
Link to Montara image: https://bridgehousing.com/montara-front/

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