|
Getting your Trinity Audio player ready...
|
The construction of 120 affordable apartments on a city-owned parking lot in downtown Mountain View is officially underway after facing years of financial struggles to get built.
City and local leaders gathered outside Mountain View’s Civic Center Plaza Wednesday morning to celebrate the groundbreaking of Corso, a five-story affordable housing development at 444 Bryant St., near Mountain View’s City Hall. The 1.5-acre site used to be a public parking lot, known as Lot 12.
“We’re doing more than just breaking ground on a piece of land,” Santa Clara County Supervisor and former Mountain View Mayor Margaret Abe-Koga told a large crowd at the May 27 event. “I look forward to being able to welcome new neighbors and help break ground to provide hope, stability and opportunity for 120 families and individuals.”
Jointly developed by Alta Housing and Related California, the project technically broke ground back in March. The complex is on track to open to residents in early 2028, according to Randy Tsuda, Alta Housing CEO and president.
The project was initially conceived in 2008 but did not get off the ground at the time because of financial challenges, Tsuda said. More than a decade later, Mountain View selected Alta Housing and Related California to develop the site.
Since its inception, the project has been slated to serve very low-income households earning between 30% and 60% of the area median income, according to Ann Silverberg, Related California Affordable CEO and president. In 2025, the median income for a two-person household in Santa Clara County was $156,150, according to state data.
Of the 120 affordable units, 20 apartments have been set aside for people transitioning out of homelessness. Another 15 are for residents with intellectual or developmental disabilities and 10 are designated as permanent supportive housing, which provides ongoing assistance for residents, Silverberg said. Monthly rents at Corso will range from $1,055 to $3,133.
The apartments are sized to house both individuals and families, with 18 studios, 41 one-bedroom, 31 two-bedroom and 30 three-bedroom units. The project also will have community gathering spaces, including a ground-floor lobby, multipurpose community room, teen lounge, central courtyard and bicycle lounge. Additionally, support services will be provided on site.
“We’re not just providing four walls and a roof,” Abe-Koga said. “We’re providing the wrap-around care and stability that allows people to thrive.”
The groundbreaking ceremony was celebratory in tone but also highlighted the financial challenges of building affordable homes in the region. High interest rates, construction costs and competition for limited funding sources nearly derailed the project two years ago.
Ultimately, the Corso development secured enough funding to get across the finish line, including a $23.5 million loan from the city, which includes federal and state grant money, and nearly $20 million in loans from the county. The city also contributed the land for the project.
“We could not have done this alone,” Mountain View Mayor Emily Ann Ramos said. “Through this affordable housing development called Corso, we are building the future of Mountain View one project at a time.”
Emily:
If I recall correctly, when this finally looked liked it was going to happen, just before the plague,it was going to cost $114M or just under $1M per unit. What’s the budget at this point? Seems to be a worthy project aimed at helping vulnerable populations but a 20 year runway at >$1M in 2026 dollars isn’t going to make a perceptible dent in our housing problems, there’s got to be a better way!
In what world is $3,133 per month affordable?
I agree with the previous about the commenters about the price paid by the end user as *non-affordable*. Yet our politicians and their supporters call this “Affordable Housing”. And they do it over and over.
We all know it is not affordable, yet they keep doing the same thing over and over.
I speculate why they keep doing this, despite the answer being so obvious:
1. A need to feel like they are addressing an important issue, even though they never achieve their objective
2. Naive politicians and their supporters who really don’t understand how economics *and* the monetary system work. So they keep doing this *non-affordable* Affordable Housing. Over and over. I speculate that it makes them feel good, and if they repeat their achievements over and over, they actually think they achieved something.
3. I won’t bore you with economics and the monetary systems works, and why we as a voters keep voting for policies (naively) that keeps housing prices high
4. I really think our local government should just focus on delivering core local government services in an efficient, effective, and cost effective manner.
a) Stay out of things they can’t control or really don’t understand
b) Try listening to San Francisco Mayor Mark Lurie. He just gave a speech today. He is going to focus in departments on delivering just core services, and cutting expenses they can’t afford (e.g. ask you accounting department if you are in deficit. ) I doubt this will happen. We are addicted t virtue signaling and pretending to deliver results so our politicians and their enthusiastic supporters can feel good about themselves. While accomplishing nothing.