MOUNTAIN VIEW, CA—This week, mayor Ken Rosenberg, Santa Clara County board supervisor Joseph Simitian, state housing and community development director Ben Metcalf, California department of veterans affairs and other local leaders celebrated the groundbreaking of Eagle Park Apartments. Expected to be completed in the fall of 2018, this approximately half-acre multifamily property is centrally located at 1701 W. El Camino Real, within walking distance of grocery stores, pharmacies, restaurants and public transit.
This affordable residential rental community is being developed by Palo Alto Housing. Van Meter Williams Pollack is the architect and Branagh Inc. is the general contractor.
“Palo Alto Housing commends the city of Mountain View for making affordable housing a strategic priority,” said Candice Gonzalez, CEO of Palo Alto Housing. “We truly appreciate the collaboration between our public and private partners. In the middle of Silicon Valley, in one of the most expensive real estate markets in the country, we are proud to honor our veterans and workforce with high-quality, affordable housing in an amenities-rich neighborhood.”
Eagle Park Apartments will be comprised of 67 rental apartments which will house low-income veterans and households earning up to 60% of the Santa Clara County area median income. The unit mix consists of 62 studios at approximately 400 square feet and five one-bedroom apartment homes at nearly 600 square feet.
The residential apartment community building will be GreenPoint-Rated through the inclusion of the following green design features: solar thermal system, energy-efficient HVAC, energy-efficient lighting and water-conserving fixtures. Onsite amenities will include roof decks for socializing, a community room with a computer lab, community kitchen and elevator access on every floor.
“This housing project featuring veterans is rare and it utilizes fairly new funding sources specifically for veterans' housing. In fact, this will be the very first project in Mountain View to set aside units specifically for veterans,” Gonzalez tells GlobeSt.com. “The housing crisis remains acute in the Bay Area and this project is just a drop in the bucket for what is needed but every unit counts. Continued collaboration and funding from all levels of government will be crucial to help alleviate the shortage.”
Financing for the $33 million development is provided by the city of Mountain View, county of Santa Clara, US Bancorp, state department of housing and community development, veterans housing and homelessness prevention program, California housing finance agency, California department of veterans affairs and Google.
“It was in June last year where we, as a city, stepped up and invested $8 million in development funds for this Palo Alto housing corporation project because it is bringing 67 new affordable homes with easy access to mass transit,” said Rosenberg. “This project is a great example of how both cooperation and smart development can make our city more accessible by increasing our overall supply of affordable housing and making a great place for our veterans to come home to.”
Palo Alto Housing's property management division will provide onsite property management and partner with a network of service providers including the VA Palo Alto and Abode Services to provide services to residents. Those services will be designed to ensure housing stability, promote health and wellness, and encourage social integration. In its more than 47 years of service, Palo Alto Housing's mission has been to create more diverse communities by providing and maintaining high-quality affordable housing.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
