Thank you for sharing!

Your article was successfully shared with the contacts you provided.

EAST PALO ALTO, CA-East Palo Alto’s newest housing complex is coming online. The Peninsula Park Apartments, a 129-unit, garden-style housing complex developed by a public-private partnership, will be open for tenants next week.

The Peninsula Park Apartments were developed by BRIDGE Housing Corporation, a nonprofit organization, and the East Palo Alto Community Alliance and Neighborhood Development Organization, in cooperation with the East Palo Alto Redevelopment Agency.

Sixty-five units have been set aside for affordable housing, while the rest are being rented out at market rates, with preference given to local residents. There is also a shared area with a swimming pool, clubhouse and play areas.

“Peninsula Park really satisfies two crucial priorities,” says BRIDGE Housing President Carol Galante.”It makes sure that the area’s working families aren’t pushed out to the periphery of the Bay area, and by providing a good mix of incomes, acts as a magnet for other forms of community investments. This is housing and community development for the long term.”

Much of the financing for the project was provided by the City of East Palo Alto, the San Mateo County Office of Housing, and the Federal Home Loan Bank of San Francisco. In addition, funds were also provided by the David and Lucile Packard Foundation, the Peninsula Community Foundation and the Enterprise Foundation.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.