Projects Under Review
HEART has completed a first phase funding review of the following multifamily rental projects and directed the project sponsors to submit a final funding application pending an award of LHTF funds from HCD.
400 East 5th Avenue
San Mateo, CA
400 East 5th Avenue will create 224 affordable rental homes for extremely low, very low, and low-income individuals and families.
Loan Application Amount: $ 3,800,000
- 43 units at <30% AMI
- 78 units at 31% – 60% AMI
- 102 units at 61% – 80% AMI
965 Weeks Street
East Palo Alto, CA
965 Weeks Street will create 135 affordable rental homes for extremely low and very low-income individuals and families.
Developer: MidPen / EPACANDO
Loan Application Amount: $ 3,230,000
- 41 units at <30% AMI
- 94 units at 31% – 60% AMI
493 Eastmoor Avenue
Daly City, CA
493 Eastmoor Avenue will create 71 affordable rental homes for extremely low and very low-income individuals and families.
Loan Application Amount: $ 2,470,000
- 15 units at <30% AMI
- 56 units at 31% – 60% AMI
HEART has funded the following developments
353 Main Street
Redwood City, CA
353 Main Street will create 125 units affordable rental homes for low-income and working families.
Fair Oaks Commons
North Fair Oaks, CA
Located at 2821 El Camino Real, Redwood City, CA 94061, Fair Oaks Commons provides 67 affordable, independent living for low-income families, veterans, and formerly homeless households earning between 30% to 70% of the area median income.
Pacifica School District Workforce Housing
930 Oddstad Boulevard will create 45 affordable homes for teachers and staff at the Pacifica School District.
Montara (Bay Meadows)
San Mateo, CA
Located in the City of San Mateo near the relocated Hillsdale Caltrain Station, Montara provides 68 one-, two- and three-bedroom apartments affordable to families with incomes up to 30%-60% of Area Median Income.
Serenity Senior Housing
636 El Camino