Groundbreaking at 6800 Mission, a Development of MidPen Housing
WASHINGTON, D.C. – August 3, 2015 – (RealEstateRama) — City and county leaders join MidPen Housing to celebrate the groundbreaking for 6800 Mission, 52 rental apartments for families and retail space along the Mission Corridor.
Daly City Mayor Raymond Buenaventura and San Mateo County Board of Supervisors President Carole Groom joined other city and county leaders to celebrate the groundbreaking of 6800 Mission, an affordable, workforce rental apartment community being developed by MidPen Housing.
6800 Mission is a response to the tremendous need for affordable workforce housing in in San Mateo County which is tied for the #1 most expensive housing market in the entire United States.
Located in close proximity to BART and most major bus lines, 6800 Mission supports the vision of the Grand Boulevard Initiative which encourages higher-density, transit-oriented development and aims to transform El Camino Real into a safe, attractive and welcoming place to live, work and play. (El Camino is called Mission Street in Daly City.)
“6800 Mission brings much needed affordable workforce housing to Daly City,” said Daly City Mayor Raymond Buenaventura. “Moreover, this beautiful development will act as a catalyst for the transit-oriented, pedestrian-friendly revitalization we envision along Mission Street which serves as the Northern Gateway to the Grand Boulevard.”
Expected to welcome its first residents in late 2016, 6800 Mission is a pedestrian-friendly, transit-oriented, infill development built on a vacant site formerly occupied by an auto dealership. 6800 Mission will provide 52 affordable workforce homes along with a community room, computer lab, fitness center, outdoor courtyard, and common lounge areas as well as 2,200 square feet of retail space on the street level.
“We are honored to partner with the City of Daly City’s on their vision to provide quality homes for their hard working, low-income families in an integral part of their city,” said Jan Lindenthal, Vice President of Real Estate Development for MidPen Housing. “6800 Mission is a tremendous model for infill development, transforming a previously underutilized site into a vibrant community where families will live, work, shop and play.”
6800 Mission will provide 20 one-bedroom, 16 two-bedroom, and 16 three-bedroom apartments serving individuals and families earning up to 60% of Area Media Income which is $71,760 for a five-person household.
In partnership with a network of service providers, MidPen Resident Services Corp. will coordinate and manage many onsite programs for all 6800 Mission residents including an educational-based After School Program for youth, financial literacy courses, vocational development, computer lab assistance; health and wellness programs and access to other community resources. MidPen Property Management Corp. will provide onsite professional property management.
Financing for the $33.9M development was provided by the City of Daly City, Daly City Housing Development Finance Agency, County of San Mateo, Housing Authority of the County of San Mateo, City Community Capital, Wells Fargo Community Lending and Investment, Federal Home Loan Bank of San Francisco, California Municipal Finance Authority, California Tax Credit Allocation Committee, and the US Department of Housing and Urban Development.