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Construction is underway on the first all-affordable housing development in Los Altos, a 90-unit apartment complex that will serve low income residents.
Located at 330 Distel Circle, near the Mountain View border, the project will nearly double the number of affordable housing units in Los Altos, a city that has some of the highest housing costs in the region.
Santa Clara County and nonprofit developer EAH Housing held a groundbreaking ceremony on Thursday, Aug. 28. Construction is expected to be finished by January 2027.
The five-story building will have four levels of apartments above a parking podium that can accommodate 35 vehicles and 45 bicycles. The property also includes a community room on the first floor and an outdoor courtyard, according to a Santa Clara County press release.
Just a half mile from El Camino Real, the project is near major transit and surrounded by apartments, single-family homes and commercial services.
“We’re really excited to be moving this forward,” said Welton Jordan, EAH Housing’s chief real estate development officer.
The development will serve low and very low-income households earning between 30% and 80% of the area median income. For a family of four, that would equate to earning $60,250 to $159,550 annually.
To support different household sizes, the project has an even mix of studios and one-, two- and three-bedroom units, Jordan said. Several apartments have been set aside for individuals experiencing or at risk of homelessness. On-site support services will be provided for residents, including case management services.
Jordan said that it was a big achievement to get the project so close to the finish line.
“It’s a tough environment for real estate development right now, no matter what you’re building, but particularly in our space,” he said.
The total development cost is expected to be $85 million, amounting to nearly $1 million for each housing unit, Jordan said.
The project’s primary funding source is from low-income housing tax credits and state credit financing, according to the press release. Santa Clara County also has been a major investor in the project after acquiring the site from the Midpeninsula Open Space District in 2020.
In total, the county has contributed $25 million toward the project with the bulk of funding coming from a $950 million Measure A housing bond that voters passed in 2016, the press release said.
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The poors have arrived in Los Altos! As far away from everyone in Los Altos as possible.
All kidding aside, it’s actually the right place to put it considering access to transportation and groceries. Not sure why Mountain View is trying to put a homeless shelter in the downtown area and not in San Antonio.
At “$1 million for each housing unit”, paid for from government sources, this is subsidized housing, not truly affordable housing. Such subsidized housing can’t be more than a token effort; something different would be needed to really solve the problem.
Well that is the problem, no amount of Red Tape cutting is going to help very much if the best we can do is $1M/unit with a ~0.5M unit shortfall. That’s half a Trillion (with a great big T) dollars. That is 1.5 California’s total annual budget, and that’s just the Bay Area’s housing deficit. I saw in the Merc where San Jose had brought in a similar project at $780K (about 25% less, but still more than California’s total budget if could build out all the housing needed). It would be far cheaper to pay people to go away!