USA Properties Fund and The Pinyon Group have brought much-needed workforce housing to the fast-growing neighborhood near Levi’s Stadium in Santa Clara, California.
The development team has opened Mainline North, a 151-unit apartment community for households earning between 30% and 70% of the area median income. The property features studios to three-bedroom units, with rents ranging from $1,003 to $2,504 per month, significantly less than nearby market-rate units.
Mainline North is the latest project in the Tasman East Specific Plan, a transit-oriented and pedestrian-friendly area just a few blocks from Levi’s Stadium, home of the San Francisco 49ers and site of the Super Bowl in February and FIFA World Cup soccer matches this summer.
“The grand opening of Mainline North is a milestone for our city,” said Santa Clara mayor Lisa Gillmor. “Affordable housing is essential to keeping our community inclusive and vibrant, and we are proud to partner in bringing this development to life. This project not only provides high-quality homes for working families but also contributes to building a future where everyone has the opportunity to thrive.”
The first residents have moved into the community, and officials were set to celebrate the grand opening Jan. 14.
“Mainline North is at the center of one of the fastest-growing areas in the Bay Area, offering residents career opportunities, many entertainment options and easy access to public transit,” said Geoff Brown, president and CEO of USA Properties Fund. “The apartment community fits the needs of a wide range of residents, from early-in-their career professionals to retirees living on a fixed income.”
The development marks the second collaboration between the development firms.
“The Pinyon Group is proud to partner once again with USA Properties Fund to co-develop Mainline North,” said Jay Stark, principal of The Pinyon Group. “Mainline North exemplifies The Pinyon Group’s commitment to building innovative, affordable housing in areas with the greatest housing needs.”
Located in Silicon Valley, the $86 million project was made possible by a mix of public and private partners, including Google.
“As part of our commitment to being a helpful neighbor in our hometown community, we’re proud to help unlock vital projects like this. Together, we are not just enabling homes, we are creating vibrant neighborhoods and a more sustainable housing ecosystem for the region,” said Javier González, head of Google’s California local government affairs and public policy.
Other partners include the city of Santa Clara, Housing Trust Silicon Valley, California Housing Finance Agency (CalHFA), Bank of America, Ensemble Real Estate Investments, and Related.
“The transformation of formerly industrial Tasman East into a vibrant work/live neighborhood has been exciting to witness and to help finance,” said Raquel González, Bank of America president for Silicon Valley. “Mainline North offers more high-quality, transit-oriented, affordable housing for Santa Clara working families, demonstrating that even in high-cost regions like Silicon Valley, affordability is possible through public-private partnerships.”
Mainline North is part of the CalHFA’s Mixed-Income Program, which assists with the cost of development and ensures housing for residents with a wider range of incomes, from early-in-their-career teachers to even some positions in the good-paying tech sector.