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DANVILLE, CA-The Bridge Housing Corporation has received $6.4 million in federal and tax credits that have enabled the company to go forward in starting construction on a 74-unit affordable senior housing complex in Danville.

Demolition crews will begin by clearing the 2.8-acre site, located at Laurel Drive and Hartz Way. Construction is scheduled to begin in February and be completed by 2003. The project will assist seniors with affordable homes and help the town in meeting government-mandated housing goals.

The complex, which is named Laurel Senior Apartments, will have 26 units per acre. Many of the units will be marketed to low- and very low-income residents.

The project will cost about $15 million and will be paid for by Danville and Contra Costa County tax credits, as well as by bank loans. Danville’s community development agency purchased the parcel of land for $2.2 million and sold it to Bridge housing for $1. This encouraged the development of the complex, as Bridge would not have been able to buy property in Danville otherwise.

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