Effective November 14, Randy Tsuda will become president/CEO of Palo Alto Housing.
PALO ALTO, CA—Silicon Valley and the Bay Area as a whole continue to add significantly more jobs than housing. Since 2010, Silicon Valley employment has increased by 29%, yet housing has increased by only 4%, a major factor in the housing affordability crisis, says Randy Tsuda, community development director of Mountain View.
To stem this tide, Palo Alto Housing, developer and manager of low- and moderate-income housing in the Bay Area, recently won 9% tax credits for a new affordable apartment community for low-income families and veterans. The developer is slated to break ground on .59 acres in February 2019 at 2821 El Camino Real in Redwood City, the site of a former Enterprise Rent-A-Car lot. Plans call for 67 studio and one-bedroom apartments for households with incomes between 30% and 60% of the area median income. In addition, its latest project in Palo Alto at 3703 El Camino Real was just rezoned to an affordable housing-combining district. The planning commission unanimously approved the rezoning on September 26.
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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.
