HEART has funded the following developments
400 East 5th Avenue – Kiku Crossing
San Mateo, CA
400 East 5th Avenue is under construction with 223 affordab
Developer: MidPen
Loan Amount: $ 3,800,000
- 43 units at <30% AMI
- 78 units at 31% – 60% AMI
- 102 units at 61% – 80% AMI
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.
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
Pacifica, CA
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.
Ocean View
Pacifica, CA
Ocean View offers 100 affordable rental homes for seniors.
Serenity Senior Housing
East Palo Alto, CA
*Opened Nov. 2017, Serenity Senior Housing offers 41 affordable rental homes for seniors.
636 El Camino
South San Francisco, CA
636 El Camino offers 106 affordable rental homes for working families
Delaware Pacific
San Mateo, CA
Delaware Pacific, located at the site of the old police station, offers 120 affordable rental homes for working families
Peninsula Station
San Mateo, CA
Peninsula Station offers 68 affordable rental homes for working families, located next to CalTrain and near Hillcrest Shopping Center
Trestle Glen
Colma, CA
Trestle Glen offers 119 affordable rental apartments for families, located near Colma BART
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
Hillcrest Senior Housing
Daly City, CA
Hillcrest Senior Housing provides 40 affordable rental homes for seniors conveniently located next to BART and bus lines
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.
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.
Developer: CORE
Loan Application Amount: $ 2,470,000
- 15 units at <30% AMI
- 56 units at 31% – 60% AMI
