City of San Leandro Prepares for Affordable Housing, Abode Communities Acquires Land
Washington Avenue Apartments will provide 72 units of affordable and supportive housing for families
Nonprofit affordable housing developer Abode Communities has acquired a 1.19-acre parcel located at the southwest corner of Washington Avenue and Beatrice Street with the intent to develop 72 affordable family homes in San Leandro.
“The City has established a strong partnership with Abode Communities to significantly address the critical issues of affordable rental housing and permanent supportive housing for people experiencing homelessness. We are excited to have Abode Communities in the San Leandro community with its decades of experience in providing high-quality, permanently affordable housing that enhance the surrounding neighborhood,” said Community Development Director Tom Liao.
The developer acquired the property utilizing $3.5 million in financing from the Golden State Acquisition Fund issued through Housing Trust Silicon Valley. Now known as the future home of “Washington Avenue Apartments,” the development is the third project in San Leandro to benefit from voter-approved affordable housing funds from the County of Alameda’s 2016 Measure A-1 bond measure, along with almost $2 million in City locally earmarked affordable housing funding.
“We are excited to have provided early-stage financing for this project,” said Noni Ramos, CEO, Housing Trust Silicon Valley. “Washington Avenue Apartments will make more affordable housing accessible in San Leandro and allows us to continue our mission of creating safe, stable, and affordable housing solutions for our vulnerable community members in the East Bay.”
Washington Avenue Apartments will include 22 households set aside for families experiencing homelessness. All residents will enjoy a host of on-site amenities, highlighted by onsite social services provided by Fremont-based Abode Services (a separate organization from developer/owner/operator Abode Communities). The development will serve families whose household incomes range between $20,000 to $50,000 for a one-person household, and up to $28,560 – $71,400 for a four-person household.
“This development opportunity comes at a critical time when families who are in need of housing options are faced with escalating and unsustainable rental costs in the East Bay,” said Holly Benson, President & CEO of Abode Communities. “We’re committed to this community as the long-term owner/operator, ensuring the rents offered at this location will remain permanently affordable over the long-term.”
The long-vacant property is fully entitled and expected to begin construction in late 2023. Additional project financing is anticipated to include 4% Low Income Housing Tax Credits, Tax-Exempt Bonds, funding from the State of California Housing & Community Development’s Multifamily Housing Program, and Project-Based Section 8 Vouchers issued by the Housing Authority of County of Alameda.
Abode Communities will develop and own the affordable housing, and partner with The John Stewart Company to provide onsite property management.