City Breaks Ground on Franklin Street Affordable Apartments

Everyone needs a break sometime and a few dozen families could soon get one.

A special groundbreaking ceremony with city staff, council members and residents took place Wednesday to celebrate the construction the Franklin Street Family Apartments, a 51-unit development for families that make 50 percent of or below the Santa Clara County's area median income. That's a welcomed break since in just this past year rents increased in Mountain View by 16.3 percent, the San Jose Mercury News reported in October.

"This is a long-term sustainable, very green project, which we are very proud of," said at the Nov. 2 event in the parking lot behind where the development will be at 135 Franklin St. "The good part about this project is that it will allow families to be close to transportation, to downtown, services and jobs, and that's what we were striving for."

The $23.4 million project to be developed by ROEM Corporation on land leased from the city and with $7 million from the city's housing funds will consist of three, four-story buildings of between one and three bedroom apartments, and with 92 space parking garge. Citi Community Capital, AEGON Group and a 4 percent low-income tax credit also assisted to finance the project.

Currently Mountain View has 1,088 units devoted to subsidized housing in 12 complexes around the city. With this project in particular, the city didn't select a developer until 2006–ROEM–and went through a series of public hearings and design meetings.

But nearly eight years after the idea of the project began–according to Councilman Mike Kasperzak–the city broke ground on the project.

"It's great to finally get the project going," said Kasperzak. "I'm always amazed how long it takes to build an affordable housing project."

Neighborhood Service Manager Linda Lauzze shared that three more affordable housing projects will come before the council on Nov. 15 and developer ROEM, as well as two others, hope to get the city to reserve funds for future project.

Families interested in the Franklin Street Family Apartments, possibly completed in 16 to 18 months, need to apply, meet stringent income requirements, undergoe a multi-step interview process and pass a credit check, explained ROEM Spokeswoman Erin Caputo. Applications will be made available in 2012.

"I think we should all feel great. We are all participating in doing such a great deed for the families that need it the most" Robert Emami, president of ROEM. "And believe me there are a lot of them out there. I know it's 52 [sic] units but we are making 52 [sic] families very happy."