San Mateo County supes approve $14M loan for affordable homes near Cow Palace
San Mateo County's Board of Supervisors have approved a $14 million loan for the construction of what officials call the "largest affordable housing project" in the county's history.
In a statement Tuesday, the San Mateo County Executive's Office said the Board voted unanimously for the loan to continue the vast housing project at Midway Village, located near the Cow Palace in Daly City's Bayshore neighborhood.
"This is probably, in terms of housing in San Mateo County, one of the most transformative projects ever," said Board Vice President David Canepa, whose District 5 includes Midway Village. "You're looking at going to 555 units. This is amazing."
According to county officials, the original Midway Village opened in the mid-1970s with 150 units to provide housing for low-income individuals and families on the site of a former gas works and World War II Navy housing.
The housing site's redevelopment is occurring in phases. Nonprofit housing developer MidPen Housing completed the construction of Phase 1 in May, with 147 units of affordable housing and a parking garage for residents of both Phase 1 and Phase 2. Existing Midway Village residents are given priority for the new housing, county officials said.
The $14 million loan approval will spur the development of Phase 2, which includes a total of 111 units, ranging from studios to four bedrooms, and two more units for onsite managers, officials said. Of the 111 units, 29 are allocated for clients of the County's Behavioral Health and Recovery Services, which provides support services such as counseling.
According to Matthew Franklin, president and CEO of MidPen Housing, the new funding will also support the construction of a new childcare center.
County officials say Phases 3 and 4 will provide more affordable housing, including homeownership opportunities. Phase 5, meanwhile, will oversee the construction of a large public park with playing fields and play structures operated by Daly City.
"This field is going to provide access to a community that does not have a field, whether it's soccer, whether its football," Canepa said.
To qualify for the housing, applicants must meet certain income and other requirements. Most units are held for individuals or families earning from 15 percent to 60 percent of the Area Median Income, according to county officials.