SAN MATEO, CA-A new housing development has city residents and businesses hopeful that the rundown area known as the “Gateway to San Mateo” will be revitalized with a new “facelift.” The development, which will be built along East Third and Fourth Avenues between Grant and El Dorado Streets, is being praised by local business owners as a key to revitalizing the area and increasing local business among Downtown retailers.
“This development will not only improve the look and feel of our greater Downtown area, but will encourage shopping and dining at our Downtown stores and restaurants and should serve as a catalyst for further revitalization along the gateway to downtown,” says Linda Asbury, president of the San Mateo Area Chamber of Commerce.
The project, which is being developed by Redwood Shores, CA-based Prometheus, will create 218 apartment units with 22 below-market rate units on 3.6 acres of land along East Third and Fourth Avenues, along the main entry to the Downtown area.
This urban development will provide much-needed housing near Caltrain, Downtown and Peninsula employment centers. The community will consist of one, two and three-bedroom apartments and lofts. A swimming pool, fitness center and parking structure are included in the development.
Additionally, more than twice the required amount of open space has been incorporated into the project. Bill Brigham of Field Paoli calls the development a model urban infill project, saying that the project follows the “Vision of the Gateway” established by the city.
This development will significantly contribute to the city, as it not only helps the city meet its affordable housing requirements but will also generate millions of dollars that will benefit the local community.
The proposed development will go before the planning commission next month, and is scheduled to break ground immediately after, with a scheduled completion date of December 2003.