The California Department of Housing and Community Development (HCD) has awarded a $2 million matching grant to HEART as part of its competitive Local Housing Trust Fund Program funded by Proposition 1C, the housing bond measure approved by state voters in 2006. The funds, which should be available in 2012, provide $700,000 for affordable rental housing loans and $1.3 million for downpayment assistance loans to low and moderate-income families.
Bridge Housing, in partnership with the County of San Mateo, celebrated the grand opening of Trestle Glen family housing during Affordable Housing Week, on May 13, 2010. Trestle Glen features 119 one-, two- and three-bedroom apartments that are affordable to families with annual incomes ranging from $16,491 to $55,560 for a family of four (20 to 50% of Area Median Income, AMI). Rents range from $403 to $1,400 per month.
On Thursday afternoon, 5/14/09, MidPen Housing celebrated the groundbreaking for Peninsula Station, a new development on El Camino Real in San Mateo, next to Borders Book and CalTrain. When completed in summer 2010, Pen Station will provide affordable rental homes for 68 working families.
The Association of Bay Area Governments (ABAG) presented HEART with the 2009 Growing Smarter Together Award in the category of Public/Private Partnerships. Watch the video!
We had a tasty “friendraiser” event just before Valentine’s Day. You can see photos here. Many thanks to Borel Private Bank & Trust Co. for hosting the event at their San Mateo branch! Also, the State contemplates a permanent source of revenue for affordable housing.
It’s been surprisingly busy for the summertime, and now there’s quite a bit of housing news to mention that’s of interest in San Mateo County. Here are three highlights: HEART’s first homebuyer loan; the City of Belmont joins HEART; and possibilities for a National Housing Trust Fund
“Like an FHA loan, but more flexible for the condo we wanted….” ~Jennifer & Andrew
“With the money I saved through HEART, I have enough to fix up the house…” ~Krystal