Measure A funds new 102-unit affordable housing project in Mountain View, plus six other projects
SAN JOSE – The Santa Clara County Board of Supervisors today voted 5-0 to help fund seven new affordable housing developments, including the La Avenida Apartment project in Mountain View. The projects will be funded through the 2016 Measure A Affordable Housing Bond and No Place Like Home program.
The La Avenida Apartments is a new 102- unit apartment project to be developed by Eden Housing, Inc. at 1100 La Avenida Ave. in Mountain View. The County’s investment of up to $19 million will contribute to the construction of 34 permanent supportive housing units, 33 units for households earning up to 30% of area median income (AMI), 19 units for households earning up to 50% of AMI, and 14 units for households earning up to 60% of AMI. These are community members who are extremely low income (ELI), very low income (VLI), and low income (LI) respectively.
“I’m pleased that we’re making progress on developing affordable housing, particularly in the North County with the La Avenida project in Mountain View,” said Santa Clara County Supervisor Joe Simitian. “We’re focused on the most vulnerable residents of our County – folks who face a particularly difficult challenge in high cost cities in my district.”
“We at Eden are thrilled that the Board of Supervisors has approved this investment in the creation of La Avenida in Mountain View,” said Linda Mandolini, President of Eden Housing, a nonprofit aimed at building and maintaining affordable housing for lower income families, seniors, and people with disabilities including the new La Avenida project. “The need for affordable housing in Silicon Valley is dire. The County’s early investment, along with the investment of the Housing Trust’s Tech Fund, are the key ingredients we need to help Eden and the City of Mountain View create homes that will have a lasting impact on the problem.”
Combined, funds for the seven approved projects total approximately $155 million, with most funding coming from Measure A and approximately $18.5 million from No Place Like Home. The 2016 voter-approved $950 million Measure A Affordable Housing Bond is projected to fund 120 new affordable housing developments over 10 years, including up to 4,800 new apartments dedicated to extremely low-income (ELI) households and individuals, families exiting homelessness, and other underserved populations. In addition, the County will establish rental and ownership opportunities for moderate income households.
With today’s approval, the County has now approved 2,900 bond-funded multifamily rental development units since the Measure A bond measure passed in November 2016, representing close to half of its total ten-year goal to finance the development of 4,800 affordable housing units. So far, the Measure A Affordable Housing Bond has provided over $300 million in funding to 27 projects in seven Santa Clara County cities as well as $25 million to the first-time homebuyer program.