Moss Beach, CA, September 10, 2026—Public- and private-sector partners gathered today with developer MidPen Housing to celebrate the construction framing of Cypress Point.
When complete in fall 2027, Cypress Point will provide 71 one-, two- and three-bedroom affordable homes for individuals and families earning up to 30-60% AMI (currently $46,440-$92,880 for a two-person household). Eighteen of the homes will be set aside for agricultural households, and the remaining will have a Coastal live/work preference. Cypress Point is the first deed-restricted affordable housing development in the MidCoast area of San Mateo County.
Located above the Point Montara Lighthouse, Cypress Point features a 3,184-square-foot community room at its center with both indoor and outdoor areas for residents to gather. The community also includes shared laundry facilities, bicycle storage, resident parking, and convenient access to bus lines, shops, and an elementary school. Half of the 11-acre site will be retained as undeveloped space, with walking trails.
MidPen Property Management will professionally manage the community, and MidPen Services will provide free, comprehensive, on-site services that support residents’ education, physical and mental health, and economic mobility, such as an after-school program and computer learning.
“More than four decades after this site was designated for affordable housing, Cypress Point is becoming a reality for essential local workers and families,” said Matthew O. Franklin, President and CEO, MidPen Housing. “We celebrate the many champions who made this day possible, especially the late Supervisor Don Horsley, and thank our state and county partners for their unwavering commitment to building opportunity, stability, and a place families will proudly call home for generations to come.”
Financing for the project was provided by County of San Mateo (Affordable Housing Funds), California Department of Housing and Community Development (Joe Serna, Jr., Farmworker Housing Grant Program, and Multifamily Housing Program), Wells Fargo, and the California Tax Credit Allocation Committee.
“Cypress Point will bring 71 affordable homes to a stretch of the San Mateo coast where working families have very few options, including 18 reserved for farmworker households,” said Daniel Perl, managing director in Wells Fargo’s Community Lending & Investment group. “We are proud to work with MidPen Housing and its public-sector partners to help move this project from plan to construction.”
The architect for Cypress Point is Pyatok architecture + urban design. The builder is Devcon Construction, Inc.
To learn more about MidPen Housing, visit www.midpen-housing.org. Interested prospective residents may visit https://www.midpen-housing.org/property/cypress-point/ to join the interest list.
###
About MidPen Housing: MidPen Housing is one of the most trusted, mission-driven developers, owners, and managers of high-quality affordable housing in California. Our mission: To provide safe, affordable housing of high quality to those in need; establish stability and opportunity in the lives of residents; and foster diverse communities that allow people from all ethnic, social, and economic backgrounds to live in dignity, harmony, and mutual respect. Founded in 1970, MidPen currently serves 22,800 residents at 142 properties in 12 Northern California counties.