SAN MATEO, CA, June 26, 2025—New residents, elected officials, and public- and private-sector partners celebrated the grand opening today of Kiku Crossing, a development by MidPen Housing.
Kiku Crossing is the result of close partnership between MidPen Housing, the City of San Mateo, and the County of San Mateo to develop 100% affordable housing for residents earning up to 30 to 80% of Area Median Income (approximately $40,620-$154,720, depending on household size). Twenty-five percent of the 225 apartments carry a preference for public employees layered with a preference for people who live/work in the City of San Mateo; the property also includes apartments available for residents who have experienced homelessness, and individuals with intellectual and/or developmental disabilities.
The Kiku Crossing site, previously two surface parking lots, was purchased in the late 1990s with former redevelopment agency funds. After the 2012 dissolution of all redevelopment agencies in California, the city negotiated with the state to retain the properties for public benefit. MidPen and the city added 61 apartments to the original building concept by leveraging Assembly Bill 1763, the State Density Bonus Law, allowing for increased density and height at transit-oriented properties when all units are below-market-rate. Construction of Kiku Crossing also included a five-story public parking garage on the neighboring block.
“I want to thank City of San Mateo for their visionary leadership in preserving this site for affordability and community benefit,” said Matthew O. Franklin, President and CEO of MidPen Housing. “Kiku Crossing is the largest single-phase development in MidPen’s history, and a shining example of what is possible and necessary to meet the severe need for more housing.”
“Kiku Crossing represents a rare opportunity to transform City-owned property into much-needed affordable housing, near transit, along with ample public parking to support downtown businesses,” said Mayor Rob Newsom, Jr. “I’m especially thrilled that 25% of these homes are prioritized for public employees and people who live/work in the City of San Mateo.”
Kiku Crossing is centrally located in downtown San Mateo close to Caltrain, shopping, parks, and a library. Residents enjoy amenities such as a community room with kitchen, a landscaped outdoor courtyard and rooftop deck, and a learning center. MidPen Services coordinates on-site services for residents, such as after-school programming, financial capabilities classes, and health and well-being programs.
“Kiku Crossing brings affordable, transit-oriented housing to the heart of our community,” said San Mateo County Supervisor Noelia Corzo. “I’m proud to celebrate this milestone for District 2 and I’m grateful for the hard work of all those who made it possible.”
“The incredible response to Kiku Crossing reflects the need for more quality affordable housing in downtown San Mateo for working families and vulnerable populations, such as those who are disabled or formerly homeless,” said Raquel González, Silicon Valley President, Bank of America. “Bank of America was proud to provide the construction and tax credit financing for this public-private effort, led by longtime partner MidPen Housing with support from city, county, and state agencies. It’s so heartwarming to see this longtime vision become a home to so many individuals and families.”
The architect for Kiku Crossing is BAR Architects, and the general contractor is Devcon Construction, Inc. Financing for Kiku Crossing was provided by the County of San Mateo, the City of San Mateo, the California Housing Finance Agency, Housing Endowment and Regional Trust (HEART) of San Mateo, and Bank of America.
Learn more about MidPen Housing at www.midpen-housing.org.