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Habitat for Humanity Requested Acquisition Financing from the City

Aug 01, 2016 03:15PM ● Published by Jennifer Neys

Habitat for Humanity

Habitat for Humanity Requested Acquisition Financing from the City

At the July 6 meeting, city council approved authorization for a $550,000 fund transfer from the Housing Program and Administration reserve funds to the New Construction/Acquisition Reserve Fund and a $3.15 million acquisition and predevelopment loan to Habitat for Humanity for the purchase and predevelopment of a vacant property at 1250 Las Juntas Way. The 2.05-acre site is located adjacent to the Contra Costa Centre BART Station.

In November of 2014, Habitat submitted a letter of interest to Contra Costa County to purchase the site for the development of affordable housing at a below market price of $3.15 million. Last March, the county board of supervisors approved the purchase and sale agreement.

Habitat is proposing to construct up to 52 units of affordable ownership housing. The project will include one, two, three and four-bedroom units, 75% of which would be affordable to low-income and 25% affordable to moderate-income households. The project would be developed in three phases over the next five years. The project is conceived as a three-story townhome style development, with a density of approximately 27 dwelling units per acre.

Community concerns expressed at the meeting included worries over traffic, parking and density.  City council was overall supportive of the project, and Councilmember Cindy Silva said, “Habitat for Humanity has an exceptional model for affordable housing. This is a good site; it is appropriate for multi-family. I think 52 units not only ensures that more people have affordable housing, but it also ensures that we have more money still in our fund for some other families.” 

The applicant intends to submit a formal development application in September 2016 following the close of escrow. The project is expected to be under construction by 2019.

 

 

 

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