The 151-apartment community near Levi’s Stadium will provide much-needed workforce housing as part of a public-private partnership
SANTA CLARA, Calif. – USA Properties Fund and The Pinyon Group have started construction on Mainline North, an affordable apartment community in Santa Clara that will provide much-needed workforce housing and help transform the neighborhood near Levi’s Stadium.
Mainline North – located in the 2300 block of Calle del Mundo, near Tasman Drive and Lafayette Street – is part of the city’s award-winning Tasman East Specific Plan, an effort to establish a transit-oriented and walkable neighborhood.
The 151-unit apartment community helps meet that goal, being just a few blocks from a large grocery store, an elementary school, a park, and public transportation – including a couple of bus stops and the Lick Mill light-rail station. Mainline North is also a few blocks east of the proposed City Place, a 9 million-square-foot project that will include shopping, offices and housing near Levi’s Stadium, home of the San Francisco 49ers.
“Mainline North is in an exciting, fast-changing area with so much to offer residents,” said Geoff Brown, President of USA Properties Fund. “It will fit the day-to-day needs of residents, whether they are young professionals starting their careers at one of the many companies in the area or retirees living on a fixed income.”
Public-private partnership paves the way for the $81.2 million development
Mainline North is part of a public-private partnership that includes Bank of America, California Housing Finance Agency (CalHFA), the City of Santa Clara, Google, Housing Trust Silicon Valley, Ensemble Real Estate Investments and Related.
“The Pinyon Group is proud to be developing this important project in partnership with USA Properties Fund and our public and private partners,” said Jay Stark, Principal at The Pinyon Group. “Public-private partnerships like this one are foundational for a vibrant and successful economy and offer an essential tool for ensuring equitable opportunities for all.”
Santa Clara has more than 2,100 affordable units in development or completed since 2018.
“Santa Clara is working to increase affordable housing opportunities across the city, especially near transit,” said Santa Clara Mayor Lisa M. Gillmor. “Mainline North is an important component of the Tasman East Specific Plan, adopted in 2018, which will be a complete mixed-use neighborhood with parks, greenways and a neighborhood shopping district.”
The Bay Area has faced a critical housing shortage for decades, especially for low- to moderate-income households.
“We’re excited that construction is moving forward with Mainline North, providing 151 housing units to the city of Santa Clara,” said Javier González, head of Google’s local government affairs and public policy in California. “As we remain focused on helping increase the Bay Area’s housing supply as quickly as possible, this is the type of progress we’re proud to support and we’re grateful for the opportunity to work with organizations, like Housing Trust Silicon Valley and USA Properties Fund, that are doing incredible work to make this happen.”
Thanks to a CalHFA program, Mainline North will offer housing to residents with a wide range of income levels, from early-in-their-career teachers to some employees in the many tech companies nearby.
“Building affordable housing in a high-cost area like Santa Clara truly takes a village, especially in this challenging financial climate,” said Tiena Johnson Hall, Executive Director of the California Housing Finance Agency. “I am proud CalHFA is part of the village and that the financing from our Mixed-Income Program can help create housing opportunities at Mainline North for 151 deserving families in this community.”
The $81.2 million project will have a far-reaching effect on the community and its residents, said Raquel González, Bank of America Silicon Valley President.
“Santa Clara and the Tasman East area are going through an exciting transformation, and we’re proud to provide financing for the Mainline North Apartments that will add more than 150 new, affordable housing units for working families of low-income,” Raquel González said. “This public-private partnership model will have a transformative impact not just on the community, but also for the residents with the on-site services to help them gain financial strength. We have worked with USA Properties Fund on many projects over the years, and this one is ideally located near mass transit, major employers, and retail and public amenities.”
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Eight-story building scheduled to open in early 2025
Construction on the eight-story building should be completed in early 2025. The first three floors are for the parking garage; lobby and leasing area; community, fitness and flex rooms; and about 5,000 square feet of retail space. The top five floors are for the apartments.
Almost half of the renters in Santa Clara County are considered “cost-burdened,” spending at least 30% of their income on housing, according to the Joint Center for Housing Studies of Harvard University. And about one of every four renters is considered “severely cost burdened,” spending at least 50% of their income on rent.
“We are thrilled to have provided early-stage financing for Mainline North, which will make more affordable housing accessible in the City of Santa Clara and allows us to continue our mission of creating safe, stable, and affordable housing solutions for our vulnerable neighbors and community members in Santa Clara County,” said Noni Ramos, CEO of Housing Trust Silicon Valley. “We appreciate the opportunity to support the development of this exciting new community.”
Affordable studios to three-bedroom apartments with a long list of amenities
Rents at Mainline North will be significantly less compared to other market-rate units in Silicon Valley, and available to households that earn 30% to 70% of the area’s median income – about $35,440 to $106,100 per year.
Mainline North will offer affordable studios to three-bedroom, two-bath apartments that fit the budget and space needs of a wide range of residents, from single-person households to families.
Rents will start from about $850 for a studio to $1,080 for a two-bedroom apartment for households that earn 30% of the area’s median income.
Mainline North is affordable but offers a long list of amenities, including some not available in many market-rate communities in Silicon Valley.
Residents will enjoy a community room with a kitchen, an arts and crafts flex room, a computer area with free wifi, and a rooftop courtyard on the fourth floor that includes outdoor seating and barbecue areas and a pet wash station.
Apartments will feature energy-efficient appliances and light fixtures, ceiling fans and low-flow faucets, showers and toilets.
Fourth apartment community in Silicon Valley for USA Properties
Mainline North will be the fourth apartment community for USA Properties Fund in Silicon Valley, including Virginia Street Studios, an all-studio development that will become the largest affordable apartment community for seniors in San Jose when completed this spring. The Roseville-based company – one of the nation’s fastest-growing and largest affordable developer-manager-owners – has 15 apartment communities with a combined 2,800 units under construction and more than 12,000 units under management.
Mainline North will be a welcome addition to the Tasman East Specific Plan neighborhood, which has received an Award of Excellence from the Northern California section of the American Planning Association.
“Mainline North is an excellent example of what can be accomplished when private and public partners come together with a mission to address the housing needs of a neighborhood, a city and a region,” said USA Properties Fund’s Brown. “It’s a very special project that will help open the door to more opportunities for residents.”