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At its Tuesday, June 11, meeting, the San Mateo County Board of Supervisors voted unanimously to allocate just over $40 million toward the development of affordable housing. The funding, part of its 12th Affordable Housing Fund, will be spread across seven projects, which together will create 431 new units of affordable housing from Daly City to Menlo Park.
“High rents and massive mortgages price out workers — and our kids — who are forced with the choice of grueling commutes to our job centers or moving out of the region,” said District 4 Supervisor and board president Warren Slocum, in a prepared release. “The solution to the housing crisis is simple: build more housing. And that’s exactly what we are contributing to with this investment of Measure K funds.”
Over $21 million in funding comes from the county’s voter-approved half-cent sales tax, Measure K. Another $16.5 million comes from the county housing authority’s Moving to Work program. The remaining funding comes from various county sources including county impact fees.
In Menlo Park, $1 million of the funds are going toward the construction of 18 for-sale affordable townhomes for first time homeowners on Independence Drive.
These 18 townhomes will be part of a larger development being constructed by The Sobrato Organization. The full development will provide 432 new units of housing to the area, including a 316-unit residential apartment building and 116 for-sale townhome condominium units.
All seven funded projects will create 431 new units of housing for the county. Many of the projects are located close to transit. All of the projects address priority housing needs, such as housing for seniors, large families, former foster youth, farm workers, people experiencing homelessness and those with disabilities.
See the full list of funded projects on the county website, smcgov.org.
Projects were selected for funding based on readiness, competitiveness for additional funding and ability to support priority housing needs, among other criteria.
