Nearly 200 More Affordable Housing Units Coming to Santa Clara
New apartment community to provide 100% affordability for 55 years
FOR IMMEDIATE RELEASE: May 9, 2019
CONTACTS: Lenka Wright, Director of Communications, 408-615-5515 or email@example.com
SANTA CLARA, Calif. – At the May 7, 2019 meeting, the City Council approved an affordable housing agreement with St. Anton that will bring a 196-unit affordable apartment community to Santa Clara. The project will consist of 37 very low-income units, 158 low-income units and one manager’s unit, located within the Tasman East Specific Plan area at 2233 Calle Del Mundo. All units will be available to individuals who earn less than $55,200 annually (adjusted for household size) and target an income range that is typically the most difficult to finance.
“Giving the go-ahead to the St. Anton project is a wonderful way to commemorate Affordable Housing Week,” said Mayor Lisa M. Gillmor. “This is a 100% affordable housing project, and it shows how requiring affordable housing obligations for new developments, like Santa Clara Square, can benefit all people who want to live in our community.”
The project came about through a partnership agreement with St. Anton and The Irvine Company which included a capital subsidy to satisfy The Irvine Company’s affordable housing obligation tied to the Santa Clara Square development. Since the units are being provided off-site, they will remain affordable for 55 years, instead of 30 years if the units were provided onsite. Santa Clara Square is a mixed-use project that includes 1,840 rental apartment units, up to 40,000 gross square feet of retail space, and approximately 38,000 gross square feet of amenity space.
The St. Anton apartment community will replace an existing warehouse on the 1.22-acre parcel and is anticipated to start construction in early 2020.
For more information about the St. Anton project, visit the project webpage.
About the City of Santa Clara
Located at the heart of Silicon Valley about 45 miles south of San Francisco, the City of Santa Clara truly is “The Center of What’s Possible.” Incorporated in 1852, Santa Clara covers an area of 19.3 square miles with a population of 120,000. Santa Clara is home to an extraordinary array of high-tech companies, including Applied Materials, Hewlett-Packard, Intel, Nvidia, Oracle, and Ericsson. The City of Santa Clara is also home to Santa Clara University, California’s Great America Theme Park, and Levi’s® Stadium, home of the San Francisco 49ers and Super Bowl 50. For more information, go to www.SantaClaraCA.gov.