Pending approval from the San Mateo County Board of Supervisors, four affordable housing projects will receive a total of $4.5 million in funding. The board will review the four projects at their meeting this Tuesday, and will consider funding for 3 affordable rental developments, and one affordable home ownership development.
Among the four projects is a 4-5 story development at 612 Jefferson in downtown Redwood City, which will offer 32 units for sale. This particular project will receive just $500,000 of the proposed $4.5 million, but additional aid from Habitat for Humanity has already been secured.
The remaining $4 million will be appropriated as follows: $500,000 to a 50-unit veterans village in Daly City, $2.5 million for another 52 rental units at 6800 Mission in Daly City, and $1 million for a 41-unit Senior Housing Facility in East Palo Alto.
In the grand scheme of things $4.5 million is not a lot at all. Still, what seems like a drop in the bucket, is at least a step towards addressing the worsening affordability issue in the peninsula.