Menlo Park Celebrates Grand Opening of 140 Affordable Homes for Families

“The comprehensive Gateway revitalization is a true win/win for the community, allowing us to rebuild some of the most obsolete housing stock while adding new homes,” said Matthew O. Franklin, President and CEO of MidPen Housing. “We applaud the City of Menlo Park and San Mateo County for their vision and leadership in committing early and deep support to the redevelopment."
May 24, 2024
From left: Matthew O. Franklin, President and CEO, MidPen Housing; Justin Murphy, City Manager, City of Menlo Park; Nevada Merriman, VP of Policy and Advocacy, MidPen Housing; Serena Ip, Associate Director of Housing Development, MidPen Housing; Peter Adams, Resident, Gateway Rising; Raquel Gonzalez, Silicon Valley Market President, Bank of America; Councilmember Jen Wolosin, City of Menlo Park, District 3; Kevin Brown, Housing Finance Officer, Multifamily Programs, California Housing Finance Agency; Nesreen Kawar, Associate Director of Housing Development, MidPen Housing; Ray Hodges, Director of Housing, County of San Mateo.

MENLO PARK, CA, May 24, 2024—Community partners and public- and private-sector stakeholders gathered today to celebrate the grand opening of Gateway Rising, a development of MidPen Housing.

Gateway Rising delivers 140 affordable apartment homes, with a mix of one-, two-, and three-bedroom apartments for people earning between 30% and 80% of Area Median Income (currently $39,150-$149,100 depending on family size). Notably, initial rents aimed to be affordable to families earning up to 60% of the Area Median Income (up to $105,000 for a household of four), with a priority for Belle Haven neighborhood workers and/or residents.

Gateway Rising represents the final phase in the revitalization of Gateway Apartments, 130 units originally built in the 1960s. MidPen acquired the community in 1987 and invested in a light rehab at that time, ultimately redeveloping the entire site in two phases: 90 new affordable homes for seniors at Sequoia Belle Haven, followed by 140 new affordable homes for families at Gateway Rising, for a net increase of 100 apartments across both properties.

“The comprehensive Gateway revitalization is a true win/win for the community, allowing us to rebuild some of the most obsolete housing stock while adding new homes,” said Matthew O. Franklin, President and CEO of MidPen Housing. “We applaud the City of Menlo Park and San Mateo County for their vision and leadership in committing early and deep support to the redevelopment, and we’re proud to be a partner in bringing safe, high-quality, affordable homes to the Belle Haven neighborhood.”

The jump in affordable units was made possible when the City of Menlo Park adopted its Housing Element in 2013, allowing the original Gateway site to be rezoned as High-Density Residential. Sequoia Belle Haven and Gateway Rising represent Housing Element best practices for using Affordable Housing Overlay zones to benefit the community, and jurisdictions have the opportunity to build and expand on equitable growth by replicating the policy tool.

“At a time when the city’s displacement is a constant challenge and a city priority, Gateway Rising is a key part of the solution for providing beautiful and affordable homes for residents of Belle Haven neighborhood in Menlo Park” said Menlo Park Mayor Cecilia Taylor. “I’m proud the City was able to develop a preference for people who live or work in Belle Haven neighborhood as part of this development.”

“These homes are a testament to the sustained efforts to prevent displacement in one of the most expensive regions in the country,” said Iliana Rodriguez, Assistant County Executive for the County of San Mateo. “Gateway Rising also represents the County’s vision that, here in San Mateo County and Silicon Valley, surrounded by employment centers and amenities, housing affordable to residents with a wide range of incomes will still be available.”

Of Gateway Rising’s 140 apartments, 81 are occupied by original Gateway residents, who were temporarily relocated with assistance from MidPen and received priority for the new homes, and seven are set aside for households that have experienced homelessness. Resident amenities include a community room with kitchen, after school program classroom, teen center, computer lab, fitness center, and outdoor recreation areas with picnic tables and BBQs. Gateway Rising is professionally managed by MidPen Property Management, and MidPen Services provides free, onsite services such as academically based after school and summer programs for youth, vocational development, and health and wellness programs.

“We’re thrilled to help welcome back so many Belle Haven residents and those calling Gateway Rising home for the first time. Bank of America is proud to have provided construction financing and tax credit equity to support lead developer MidPen and San Mateo County turn this decade-long vision into reality. The transformational effort represents the best in public-private partnerships bringing high quality affordable housing to Menlo Park,” said Raquel Gonzalez, Silicon Valley Market President, Bank of America.  

Financing for the development was provided through both public and private sources including the City of Menlo Park, the County of San Mateo, the Housing Authority of the County of San Mateo, California Housing Finance Agency, the California Tax Credit Allocation Committee, the California Debt Limit Allocation Committee, and Bank of America. The architect is Mithun and the general contractor is Devcon Construction, Inc.

Visit www.midpen-housing.org to learn more about MidPen Housing.