SAN MATEO COUNTY, CA – Affirmed Housing, a leading provider of affordable housing throughout California, announced that construction has commenced on Monarch at Redwood, a new, $70.4M, affordable housing community located in the North Honest Oaks neighborhood. Once completed, Monarch will feature 86 sustainably conscious apartment homes with onsite services and amenities for households earning less than 60 percent of the area median income.
I m so proud that Monarch at Redwood is in my district and in my backyard! In a region where affordability is becoming increasingly rare, this project shows what s possible when the County, community, and development partners come together with shared values and purpose, said San Mateo County District 4 Supervisor Lisa Gauthier.
Monarch will be a six-tale development with thoughtfully designed studio, one-, two- and three-bedroom apartment homes. Of the total 86 apartments, 39 are designated Permanent Supportive Housing (PSH) for residents participating in Healthy Housing California (HHC) and Mental Health Services Act (MHSA) programs, ensuring critical housing access for those most in need.
Our goal with Monarch is to strengthen North Honest Oaks by providing housing and support that allow residents to stay close to friends, schools, and the local businesses, keeping the heart of the community vibrant and inclusive, said Jimmy Silverwood, president at Affirmed Housing. This project will make homes where people can truly place down roots. We re grateful to all our partners who share this vision and help make it possible.
Promoting energy efficiency and affordability, each home will be equipped with Energy Star-rated appliances, and rooftop photovoltaic panels will help offset the property s utility costs. Several shared amenities will be featured throughout the property, including secure bike storage, parking spaces, and a welcoming lobby with a mail room, all situated on the building s ground level. On-site laundry facilities are located throughout the building, and a landscaped courtyard and a community room provide space to host gatherings and events. Signature to Affirmed Housing projects, Monarch is placed within a high resource area, allowing residents simple access to off-site amenities, such as public transit, grocery stores, restaurants, and retail businesses.
In addition to housing, Monarch residents will have exclusive access to adult education programs focused on job training, career development, and health and wellness. Those experiencing mental and physical health challenges will have access to dedicated on-site service coordinators and a robust network of wrap-around supportive services provided in partnership with local organizations, like the Mental Health Association of San Mateo County (MHA).
Funding for Monarch comes through a collaboration of key financing partners, including Lument, Redstone Equity Partners, First Citizens Bank, the County of San Mateo, Housing Trust Silicon Valley, Corporation for Supportive Housing, the California Debt Limit Allocation Committee (CDLAC) and the California Tax Credit Allocation Committee (CTCAC).
Affirmed Housing s development partners for Monarch include HA Builder Group, Van Meter Williams Pollack, BKF Engineers, DCI Engineers and Jett Landscape Architecture + Design.
Powered by WPeMatico
