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Palo Alto boosts affordable-housing project with $10.5 million loan

Original post made on Jan 17, 2020

With affordable housing in short supply, Palo Alto offered a $10.5-million lifeline this week to a 59-unit residential development known as Wilton Court.

Read the full story here Web Link posted Friday, January 17, 2020, 4:04 PM

Comments (7)

20 people like this
Posted by Greenacres
a resident of Green Acres
on Jan 17, 2020 at 5:14 pm

This is exactly what we need -- housing for low-income residents (rather than mostly luxury housing with a few low-income units cynically sprinkled in) and residents with disabilities who face difficulties getting housing at all in this town, and developed with buy in from the nearby neighbors

33 people like this
Posted by Money for Low Income Housing
a resident of Another Palo Alto neighborhood
on Jan 18, 2020 at 2:01 am

There would be more money in the fund for affordable housing if Adrian Fine, Greg Tanaka, Liz Kniss, Cory Wolbach and Greg Scharff had not lowered the proposed increase in the affordable housing impact fee from office development from $60/square foot to $35/square foot. Web Link

Good thing Wolbach and Scharff are no longer on the Council. Kniss is termed out this year. Remember the efforts of Fine and Tanaka to upzone for mostly luxury housing and not focus on lower income housing if they decide to run for re-election in 2020.

26 people like this
Posted by State Funding
a resident of Another Palo Alto neighborhood
on Jan 18, 2020 at 7:12 am

For all the posturing about the need for more affordable housing by Fine, what he primarily supports is market rate housing, knowing full well what this article perfectly illustrates - why more affordable isn’t built - lack of funding not lack of will.

Non - profit housing developers don’t stand a chance when competing for land against richer for profit developers, Land for Wilton Court was bought long ago by non-profit PA Housing when it was cheaper. And now it struggles to fund construction.

Money is the problem when land is so valuable and funding so sparse. The State must pass funding bills for non-profit housing developers that not restrict it to vets or homeless, but build for BMR low and very low income people.

Building market rate housing in Palo Alto with 15% BMR set aside is better than nothing but barely. And the notion of trickle down benefits to low income people coming from building lux or market rate housing is nothing but a cruel joke.

We need real affordable BMR housing with a lot of funding by the state, and sensible support by city and county. And yes - up our city commercial impact fees along the lines of the Stanford GUP. Studies show such fees do not impede development. For that Fine and Tanaka will have to change their positions and shouldn’t be re-elected if they don’t. And their majority mates, Cormack and Kniss should do likewise.

6 people like this
Posted by Resident 1-Adobe Meadows
a resident of Adobe-Meadow
on Jan 18, 2020 at 9:22 am

Articles in paper about Weiner's SB 50 bill moving along in the state legislature. We can assume that our local legislatures are buddies with Weiner, as are some of our PACC members. So the promise of state funding is looming. Now is the time to capitalize on the political machinations for the Fry's site. At some point in the debate political machinations will overrule the plan go for the gold. At some point the arguments from local builder's will be overcome with a movement that directs their short and long term planning. Can we please get ahead of the curve here and do something smart. And Sobrato is in the mix of CA politicos so they can do something right. And if they don't it will not escape notice and notice to Newsome and Weiner that local industrialist ae not on-board with state requirements.

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Posted by Barbara
a resident of Downtown North
on Jan 20, 2020 at 11:52 am

WHY? The City of Palo Alto is giving 10.5 million for this low cost housing project and creating more traffic? What happened to doing something with the Cubberley site? How much worse can it get before something is done to improve or raze and rebuild?

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Posted by bea richmond
a resident of Menlo Park
on Mar 19, 2020 at 9:15 am

menlo park, palo alto, mountain view. looking for low income housing anywhere

1 person likes this
Posted by Harry Merkin
a resident of Ventura
on Mar 19, 2020 at 8:45 pm

That is a huge building. OK, maybe, but why does the rendering attempt to distract from its bulk by showing it from across a wide street, with an uncharacteristically empty street expanse occupying half the image area, and with a pedestrian wearing a distracting hot pink top drawn in the near foreground? Can't our local developers ever be straight with us?

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