Linc Housing, a leading nonprofit affordable housing developer, has begun construction on its 100th community.
The Corners at Belmont will bring 37 affordable and supportive housing units to Belmont in the San Francisco Bay Area.
“Each development is a step toward our vision of a state where everyone has a safe, stable, and affordable place to live,” says Rebecca Clark, CEO of Linc Housing, which was founded in 1984. “We’re grateful to partner with the city of Belmont and county of San Mateo to bring new opportunities and lasting housing solutions to the heart of this community.”
For its latest development, the organization will replace two vacant city-owned lots with 18 one-, nine two-, and 10 three-bedroom apartment homes for low-income households. The one-bedroom units will be for individuals who were formerly unhoused, each supported by a Section 8 project-based voucher from the San Mateo County Housing Authority.
On-site amenities will include a community room, an outdoor courtyard, a community garden, bicycle storage, and convenient access to public transportation, shopping, and services.
Funding for The Corners at Belmont comes from a variety of sources, including multiple funding programs from San Mateo County, loans from the city of Belmont and Housing Trust Silicon Valley, a permanent loan from the California Community Reinvestment Corp., and low-income housing tax credits from the California Tax Credit Allocation Committee and investor Bank of America, which also provided a construction loan.
