$30 Million Affordable Housing Project Near BART Up For Review

A proposal to build 200-units of affordable rental housing west of the downtown BART Station comes up for review before the City Council next week.

On Monday, May 6 at 7 p.m., city staff and representatives from nonprofit housing developer BRIDGE Housing Corporation (BRIDGE) will present an update on the proposed Cornerstone building.

The building would contain 200-units of affordable rental units.

Affordability formulas are complex but current state guidelines show that in Alameda County:

• the median income for a family of four is $93,500,
• lower income is $63,350 (same family size)
• very low income is $46,750 and
• extremely low income is $28,050

So one question that should arise at the meeting is what mix of those income levels will dictate the selction of renters for this housing development.

A presentation on the project last spring prompted many comments on Patch.

Cornerstone is part of the city’s Downtown Transit-Oriented Development (TOD) Strategy of putting dense housing close to transportation.

The review comes as BRIDGE prepares to apply for the final round of state/federal low-income housing tax credits needed to help bring the project to completion.

Last spring, the City, BRIDGE, Westlake Development Partnership, and OSIsoft presented a revised master development plan for the empty field west of the downtown BART station.

The revised plan created space for OSIsoft, which already has its headquarters on Davis Street at Alvarado, to expand its offices using private funding.

OSIsoft founder Patrick Kennedy is also the driving force behind Lit San Leandro, the city's fiber optic loop designed to attract high-tech business.

As part of that revision, BRIDGE replaced Westlake as the developer and the proposed 200-unit residential development was shifted from market rate rentals to affordable housing. 

Revised Cornerstone features to be presented on May 6 include:

• development of the 200 units in two phases - 115 units of affordable housing followed by 85 units of senior affordable housing
• provision for BART indoor replacement parking on-site through the addition of a second level of underground parking
• reduced BART replacement parking
• lowered height for the building façade facing Carpentier Street, and
• inclusion of a groundfloor community childcare center.

According to a city press release, maintaining BART parking at the Cornerstone site keeps parking close to the BART station and the downtown.

Replacement parking will be provided at a 75% level in keeping with the downtown TOD Strategy, the city says, adding that additional parking will be available on San Leandro Boulevard as a result of the streetscape improvements currently underway.

Cornerstone is the first residential development to occur under the downtown TOD Strategy, and city officials believe it will enhance the downtown, increase public transit use and boost downtown businesses.

Cornerstone has leveraged over $30 million in public funding ($9.1 million loan from the former Redevelopment Agency and over $22 million in Proposition 1C grant funding from the State,) and will help the City meet its State and federal affordable and workforce housing goals. 

For more information, including whether you will need translation services or require any handicapped accessibility accommodations for the May 6th meeting, please call the City Manager’s Office at (510) 577-3351.

What questions would you put to the developers or city leaders?