Eden, City of Palo Alto Celebrate New Affordable Housing

801 Alma Offers 50 New Rentals for Lower-Income Families

CONTACT:      
Eden Housing, Inc.     
510.582.1460 
communications@edenhousing.org

 

Eden, City of Palo Alto Celebrate New Affordable Housing
 

801 Alma Offers 50 New Rentals for Lower-Income Families

Eden Housing, together with the City of Palo Alto and the Community Working Group, today celebrated the grand opening of the 801 Alma Family Apartments.  These new affordable rentals offer 50 homes for lower-income families, a large community room, an outdoor landscaped courtyard with benches and a children's play yard, a computer learning center, an on-site manager's unit, and an underground parking garage.

The demand for affordable housing in Santa Clara County and the Bay Area is pressing, and the challenge of finding an affordable place to live is particularly acute for vulnerable populations. Entry into the housing market is out of reach for many households in Santa Clara County as 13.6% of renter households are extremely low income and 46.9% are lower income according to the 2010 U.S. Census Bureau data. Eden manages 7,000 units and there are currently 18,000 households on the waiting list.

"The City is proud to have partnered with Eden Housing and Community Working Group on this innovative development," said Palo Alto Mayor Nancy Shepherd.  "It is important that we address the supply of affordable housing in Palo Alto, and the 801 Alma apartments provide a high quality home for families that contribute to our community."

This exciting new community is located in downtown Palo Alto in close proximity to transit and amenities, and includes many sustainable features for energy and water conservation. 801 Alma is affordable to family households earning 30% to 50% of the Santa Clara County Area Median Income.

“It is so rare to be able to bring new affordable housing to the market these days, that this is indeed a true celebration,” said Linda Mandolini, Eden president. “We are grateful to our partners, especially the City of Palo Alto for their vision to convert an old utility substation into affordable housing that is so desperately needed in Silicon Valley.”

Other funding partners for the 801 Alma project include the City of Palo Alto; Community Working Group and their 801 Alma Capital Campaign Contributors; the County of Santa Clara; Federal Home Loan Bank; Housing Trust Silicon Valley; Opportunity Fund; and the Sobrato Family Foundation.

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Active: 
Yes
Release Date: 
Monday, February 10, 2014
Date Updated: 
Friday, March 14, 2014

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