Alta Housing, a non-profit developer, has opened Luna Vista Apartments, a 71-unit affordable housing community in Mountain View, Calif. The property will house a mix of single- and two-person households earning between 30% to 70% of the area median income. A total of 15 units are set aside for adults with cognitive or developmental disabilities.
Luna Vista occupies less than 1 acre at 950 W. El Camino Real, alongside a major thoroughfare connecting to downtown San Jose and the entire San Francisco Bay Area. The property is also near downtown Mountain View and provides access to public transportation, shopping, and entertainment options.
The non-profit developer will provide on-site management services, including health and wellness programs, financial planning courses, and job counseling. The community also features bike parking spaces and storage lockers. The LEED Platinum-certified property includes rooftop solar panels and electric vehicle charging stations.
Alta Housing worked with general contractor Nibbi Brothers, project designer Van Meter Williams Pollack LLP, and civil engineer Luk and Associates. The project was financed with funding from the City of Mountain View, Wells Fargo Bank, California Community Reinvestment Corp., and the Low Income Housing Tax Credit Program.
Silicon Valley’s Affordable Crisis
The Bay Area has struggled with affordability issues over the past decade, with rents and home prices skyrocketing since the Great Recession. In its latest report, The Gap, the National Low Income Housing Coalition found that there are merely 32 affordable units available for every 100 extremely low-income households across the San Jose-Sunnyvale-Santa Clara metropolitan area.
Earlier this month, the San Jose City Council approved a $65 million spending plan for affordable housing and homeless services, the San Jose Spotlight reported. Around $43 million will be used to build and preserve affordable housing, $6 million will go to organizations supporting the prevention of homelessness and rental assistance, and more than $9 million will be allocated to support organizations that provide services to the unhoused.
The fund was raised through Measure E, a 2020 property transfer tax, which generates revenues to fund general city services, including affordable and senior housing as well as housing for veterans and people with disabilities.