In Mountain View's North Bayshore neighborhood, 100-unit La Avenida Apartments opened this spring on land near Google's headquarters where average home prices approach $2 million. Developed by Eden Housing and financed in part by Measure A, the $950 million affordable housing bond passed by Santa Clara County voters in 2016, the complex serves veterans, seniors, formerly homeless residents and households earning under 60% of area median income. The project cost $78 million, roughly $780,000 per unit. Eden Housing leadership credits Measure A funding with enabling site acquisition and competitiveness that made the development and additional San Jose projects possible.
In Mountain View's North Bayshore neighborhood, where land abutting Google's headquarters comes at a premium and the average home is priced close to $2 million, a 100-unit affordable housing development opened its doors this spring. Developed by Eden Housing, La Avenida Apartments is one of the latest projects financed in part by Measure A the $950 million affordable housing bond passed by Santa Clara County voters in 2016.
With a $78 million development price tag that equates to roughly $780,000 per unit, Eden Housing President Linda Mandolini said the La Avenida project would never have been built if it weren't for Measure A dollars. Neither would the other 240 affordable units across three projects in San Jose that Eden Housing has either completed or has in the works, she said.
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