Nonprofit developer MidPen Housing in talks to acquire San Mateo apartment complex
MidPen aims to acquire a 60-unit building in a pending deal that would see the nonprofit subsequently lower income requirements for future residents.
Largest Affordable Housing Project in San Mateo County History Clears Key Funding Step
MidPen CEO Matthew O. Franklin said Daly City embraced the new apartments and homes Midway Village will bring: “That’s what we need — we need more municipalities with that posture if we’re going to work our way out of the hole we’ve dug when it comes to housing in the region.”
Affordable housing development to lower income thresholds in San Mateo
“I’m thrilled to see this come forward. I think it’s a win all the way around,” Councilmember Amourence Lee said. “Residents in our community get to stay in our community with zero displacement, we get deeper affordability levels — which is what we desperately need in the city — and I think that retaining the land underneath is paramount in terms of our long-term strategy as a city to hold our assets.”
Funding Approved for Largest Affordable Housing Project in San Mateo County’s History
By a unanimous vote, supervisors approved a $14 million loan that will spur construction at Midway Village in Daly City. “This is probably, in terms of housing in San Mateo County, one of the most transformative projects ever,” said Board Vice President David Canepa.
Sunnyvale buys land to build affordable housing
As part of a $29.5 million roundup of affordable housing expenditures, the Sunnyvale City Council unanimously approved spending $12.5 million to buy a lot at 1171 Sonora Court, to help developers MidPen Housing build 170 affordable apartments. It will be the sixth 100% affordable housing development in Sunnyvale where the city government owns the land. City officials and advocates said government land ownership helps keep the property affordable over the long term.
Affordable housing in Sunnyvale gets $30 million boost
MidPen Housing, a Foster City-based nonprofit that builds affordable housing in northern California, was awarded $14 million to fund 170 affordable units at 1171 Sonora Court, which is near the Lawrence Caltrain Station.
Sunnyvale adds to Housing Stock, More on the Horizon
The first project, set to be located at 1171 Sonora Court near the Lawrence CalTrain station, is a MidPen Housing development. It will feature 170 “extremely low income” apartments, 34 of which are permanent supportive housing for people who have experienced homelessness.
Sunnyvale notches another affordable housing project
This is MidPen’s 12th apartment building in Sunnyvale, and the nonprofit has two more in pre-development. In total, MidPen operates 869 homes and is looking to add 472 more. Ethan Levin, project manager for the development, said the city has been a good partner through the years.
Largest Commercial Developers in the Greater Bay Area
With 3.46 million square feet in its Greater Bay Area pipeline, MidPen ranked as the top non-profit developer on this list from the San Francisco Business Times.
MidPen Housing To Stay In Sunnyvale For 55 Years
A Foster City nonprofit’s reputation and “serving the public interest” were the major contributors to a decision to extend a loan agreement on a Sunnyvale housing complex for people with low incomes. “This boils down to a public-interest question, the value of having the property there today and the benefit that it serves the community versus what happens in alternate scenarios,” said Council Member Russ Melton.