Projects Funded

HEART has funded the following developments

Nugent Square – 2361 University Ave

East Palo Alto, CA

Nugent Square Apartments is an existing 32-unit affordable apartment in East Palo Alto consisting of two- and three-bedroom units. Five units are affordable to families at 30% AMI and 26 units to families at 50% AMI. Eden Housing is rehabilitating the project with an $850,000 loan from HEART.

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353 Main Street

Redwood City, CA

353 Main Street will create 125 units affordable rental homes for low-income and working families.

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Fair Oaks Commons

2821 ECR North Fairs Oaks Project Rendering

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.

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Pacifica School District Workforce Housing

Pacifica School District Workforce Housing Project Rendering

Pacifica, CA

930 Oddstad Boulevard will create 45 affordable homes for teachers and staff at the Pacifica School District.

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Montara (Bay Meadows)

Bay Meadows Affordable Project Rendering

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.

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Ocean View


Pacifica, CA
Ocean View offers 100 affordable rental homes for seniors.

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Serenity Senior Housing


East Palo Alto, CA
*Opened Nov. 2017, Serenity Senior Housing offers 41 affordable rental homes for seniors.

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 636 El Camino


South San Francisco, CA
636 El Camino offers 106 affordable rental homes for working families

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Delaware Pacific


San Mateo, CA
Delaware Pacific, located at the site of the old police station, offers 120 affordable rental homes for working families

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Peninsula Station


San Mateo, CA
Peninsula Station offers 68 affordable rental homes for working families, located next to CalTrain and near Hillcrest Shopping Center

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Trestle Glen


Colma, CA
Trestle Glen offers 119 affordable rental apartments for families, located near Colma BART

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The Village at the Crossing


San Bruno, CA
The Village at the Crossing offers 228 affordable rental homes for seniors, and is located next to BART, buses and Tanforan Mall

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Hillcrest Senior Housing


Daly City, CA
Hillcrest Senior Housing provides 40 affordable rental homes for seniors conveniently located next to BART and bus lines

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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

400 East 5th Avenue Project Rendering

San Mateo, CA

400 East 5th Avenue will create 224 affordable rental homes for extremely low, very low, and low-income individuals and families.

Developer: MidPen
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

965 Weeks Project RenderingEast 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

493 Eastmoor MIdPen Project RenderingDaly City, CA

493 Eastmoor Avenue will create 71 affordable rental homes for extremely low and very low-income individuals and families.

Developer: CORE
Loan Application Amount: $ 2,470,000

  • 15 units at <30% AMI
  • 56 units at 31% – 60% AMI

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