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2/11/16
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Meta Housing Corporation has broken ground on the Downtown Hayward Senior Apartments, a new, mixed-use, 60-unit affordable housing development for seniors in the Bay Area city of Hayward. The new development, located on roughly one acre at 808 A St, will feature a mix of one-and two-bedroom floor plans along with approximately 6k sf of retail space.
“The Hayward community and the East Bay area, in general, have been experiencing rapid rent growth over the last decade,” says Kasey Burke, President of Meta Housing Corporation. “This significant increase in rents is creating a tremendous need for affordable housing throughout the region, and it’s often seniors who feel the brunt of these rental increases.”
Burke explains, “Seniors tend to be living on fixed incomes and are not able keep up with the extremely high shifts in rent throughout the area. This new development will fill a deep need in the community by providing a high quality and safe environment that seniors can afford.”
The Downtown Hayward Senior Apartments will be located approximately two blocks from the Hayward BART station, a block away from the city’s newly constructed public library and within walking distance to retail stores, parks, and services. The new apartment community will be developed in partnership with Community Home Builders and Associates.
Financing for the project was provided by Redstone Equity Partners, Enterprise Community Partners Inc., Citibank, CalHFA, Federal Home Loan Bank of San Francisco, the State of California Department of Housing and Community Development (HCD), Alameda County Housing and Community Development Department, California Community Reinvestment Corporation, and the California Tax Credit Allocation Committee.
The building will be designed and constructed using sustainable, “green building” principles, and will obtain a Green Point Rated 125 or equivalent and LEED Gold Certification or equivalent. The apartment community will also utilize drought tolerant landscaping and a drip irrigation system.
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