The Peninsula Park Apartments were developed by BRIDGE Housing Corporation, a nonprofit organization, and the East Palo Alto Community Alliance and Neighborhood Development Organization, in cooperation with the East Palo Alto Redevelopment Agency.
Sixty-five units have been set aside for affordable housing, while the rest are being rented out at market rates, with preference given to local residents. There is also a shared area with a swimming pool, clubhouse and play areas.
"Peninsula Park really satisfies two crucial priorities,'' says BRIDGE Housing President Carol Galante."It makes sure that the area's working families aren't pushed out to the periphery of the Bay area, and by providing a good mix of incomes, acts as a magnet for other forms of community investments. This is housing and community development for the long term."
Much of the financing for the project was provided by the City of East Palo Alto, the San Mateo County Office of Housing, and the Federal Home Loan Bank of San Francisco. In addition, funds were also provided by the David and Lucile Packard Foundation, the Peninsula Community Foundation and the Enterprise Foundation.
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