Construction is underway on the first all-affordable housing development to go up in an industrial area that is set for revitalisation in the city of Santa Clara, California.
Its construction costed at close to $100m, the complex, called St. Anton Tasman, located at 2233 Calle Del Mundo, will have 196 studio and one-bedroom units, of which some 20% are for very low-income tenants (50% Area Median Income) with 80% designated for low-income tenants (60% Area Median Income).
It is regulated to stay as affordable housing for at least 55 years.
It comes against the backdrop of rising homelessness in Silicon Valley as the success of large tech companies has helped push up the cost of housing.
Developed by St. Anton Communities, and designed by KTGY Architecture + Planning, the six-storey complex will sit on on 1.22 acres next to to the Lick Mill Light Rail Station, and within walking distance of Levi’s Stadium.
It is the first project to break ground in Santa Clara’s “Tasman East Specific Plan” area, a 45-acre industrial neighbourhood which the city plans to turn into a high-density transit-oriented residential and retail district.
Construction underway at St. Anton Tasman, the first project to break ground in Santa Clara’s “Tasman East Specific Plan” area (Photograph by Jay Coles)
The project received its primary construction and permanent financing from Bank of America and gap funding from developer, The Irvine Company.
“We were able to complete the Santa Clara approval process very quickly due to their focus on affordable housing,” said St. Anton founder Peter Geremia.
“Thanks to the city’s expedited processing, the area’s lower-income workforce will be the first to move into new housing in the 45-acre masterplan,” said Ardie Zahedani, partner, St. Anton Communities.
Keith Labus, principal of KTGY Architecture + Planning, said: “Our goal was to push the density at Tasman while maintaining construction cost efficiencies and maximising the livability of the spaces, delivering a building that meets the needs of Bay Area residents in a beautiful building envelope.”
Top image: KTGY Architecture + Planning’s render of the six-storey St. Anton Tasman affordable housing complex in Santa Clara