North County affordable housing gets a boost
SAN JOSE – Affordable housing in the North County is receiving a boost. At the December 10 Santa Clara County Board of Supervisors meeting, the Board approved an additional allocation to support the El Camino Real Multifamily Project housing development to be located at 3001-3017 El Camino Real in Palo Alto. That same week, Los Altos’ affordable housing development at 330 Distel Circle received $10,431,853 in state low-income housing tax credits from the California Tax Credit Allocation Committee, chaired by State Treasurer Fiona Ma.
“We know that to help people secure long-term housing, we have to have affordable units for them to move into,” said County Supervisor Joe Simitian. “Investing in affordable housing helps residents in Los Altos, Mountain View, Palo Alto and throughout the County who are struggling to make ends meet continue to call this place home.”
El Camino Real Multifamily Project in Palo Alto
A year ago, the Board approved $13 million in funding from the Measure A Affordable Housing Bond voters approved in 2016 to support the El Camino Real Multifamily Project. Developed by Charities Housing Development Corporation of Santa Clara County, the property will be a five-story residential building with 130 affordable housing units (including two manager’s units). Units will be allocated to individuals and families who were formerly unhoused and to households earning up to 30%-50% area median income (AMI).
The additional $3 million investment in the El Camino Real Multifamily Project will come from the County’s Stanford Affordable Housing Fund (SAHF). The SAHF was established in 2000 as part of the Stanford General Use Permit process to help mitigate Stanford University’s housing impact on surrounding communities. In lieu of building affordable housing units on campus, Stanford can pay a fee, and the funds support the development of affordable housing within a six-mile radius of the Stanford University campus.
330 Distel Circle in Los Altos
Another affordable housing development in North County continues to move forward with support from low-income housing tax credits from the state. Los Altos’ first all-affordable housing development (330 Distel Circle) will consist of 90 units restricted to occupants earning 30%-80% AMI and aims to give individuals and families the opportunity to obtain housing at below market rates. The development will include a courtyard, common amenity spaces, bicycle storage, resource efficient landscaping, and solar panels, among other features.
The Board of Supervisors approved acquisition of the site in 2020, and in 2021 EAH Housing was selected as the developer. The County, City, and EAH held community listening sessions about the development in 2021 and 2022 to understand the public’s vision, and to marshal and incorporate the local community’s input on various aspects of the development. The City Council granted the design and land use approvals in September 2022. Earlier this year in May, the Board approved a loan of $10 million from affordable housing funds that allowed the project to apply for state tax credits.
“These housing developments have reached new milestones and are closer to becoming real homes,” said Simitian. “I am pleased that these actions were taken before I wrap up my term.”