On July 31, 2020, Alta Housing, a community-based nonprofit real estate developer celebrated the groundbreaking of its newest 100% affordable residential rental community at 950 W. El Camino Real in Mountain View, California.
The redevelopment project will transform the derelict site of a defunct fast-food franchise into what’s probably the single most revitalizing form of real estate reuse: affordable housing. That phenomenon was documented in the new book, RECONOMICS: The Path To Resilient Prosperity.
The new 71-unit residential development will provide independent living for a mix of single- and two-person households earning between 50% to 70% of the area median income. Fifteen of the units are reserved for adults with intellectual or developmental disabilities.
“We are excited to commence construction on this new, supportive residential community that will bring stability and an enhanced quality of life to so many people that are struggling in this challenging economy including those with special needs,” said Randy Tsuda, Alta Housing’s President and CEO. “We are grateful to our partners at the city of Mountain View who have strongly supported our effort to add much-needed affordable housing.”
The 0.61-acre development site, which previously housed a Taco Bell, is centrally located on El Camino Real, a block north of downtown Mountain View.
On-site amenities will include a roof-top deck and outdoor lounges on the second, third, fourth and fifth floors giving residents various options for outdoor access. There is also a community room with a kitchen, a conference room, library, and laundry facilities.
Alta Housing is also providing on-site management and services to residents, including case management, resident engagement, educational assistance, health and wellness programs, financial planning courses, job counseling and assistance with accessing community resources.
“Alta Housing’s services at 950 W. El Camino Real will be designed to ensure housing stability, promote health and wellness, and encourage community building,” noted Tsuda. “Alta Housing’s mission is to create stronger, more diverse communities by providing and maintaining high-quality, affordable housing where our residents can thrive.”
“950 W. El Camino Real is an ideal location, especially for those without a car. The development site is close to multiple bus lines that allow access to communities up and down the peninsula,” Tsuda continued.
“Many residents will have jobs in Mountain View or the surrounding communities and will be able to commute by walking, public transit or bike. The site is located within a quarter-mile of the Mountain View community shuttle and four bus lines (VTA 22, 52, 81, 522). The new residential community will also have a bicycle parking space and a storage locker available to each resident,” Tsuda concluded.
Financing is provided by the City of Mountain View, Wells Fargo Bank and Low Income Housing Tax Credits. Acquisition funding was provided by Housing Trust of Silicon Valley.
The project’s designer is Van Meter Williams Pollack; the general contractor is Nibbi Brothers; Luk and Associates is the civil engineer; Murphy Burr Curry (MBC) is the structural engineer; Fard Engineers is the mechanical electrical and plumbing plans (MEP) engineer; and Hill Associates is the landscape architect.
Image courtesy of Alta Housing.