Grand Oak Apartments Offer 43 Homes for Working Families
South San Francisco, CA, October 24, 2007--The City of South San Francisco and San Mateo County today will celebrate the grand opening of Grand Oak Apartments, a joint development by the City, the County and BRIDGE Housing Corporation. The ribbon-cutting ceremony will take place at 4 pm at 99 Oak Avenue, South San Francisco.
Grand Oak Apartments provides 43 new homes in South San Francisco, including 38 two- and three-bedroom townhomes. The apartments are targeted to be affordable for working families earning between 20 and 45 percent of area median income, currently $22,000 to $51,000 for a family of four. Rents range from $385 to $1,200 per month, depending on income. The development is within walking distance of schools, shopping centers and public transportation routes, including a BART station. Project amenities include a community room, a computer learning center and children’s outdoor play area. City and County officials point to Grand Oak Apartments as an innovative public-private partnership for meeting community needs. “This development highlights the benefits of having private, public and nonprofit sectors working together toward a common goal to make affordable housing a reality,” said South San Francisco Mayor Rich Garbarino. “We’re very proud of this effort.” The City of South San Francisco Redevelopment Agency provided $3.5 million in financing, and San Mateo County contributed the 1.15-acre site. “It is important that working people who provide essential services, such as teachers and retail workers, can find a home close to where they work,” said San Mateo County Supervisor Mark Church. “We were able to utilize the County’s surplus land to build safe, beautiful affordable housing for working families.” Grand Oak Apartments is the third affordable development to be built by BRIDGE in the City of South San Francisco. “South San Francisco and San Mateo County continue to make affordable housing a priority,” said BRIDGE President Carol Galante. “These homes will provide working families with the opportunity to live comfortably, save more of their incomes and raise families in a quality setting.” Grand Oak Apartments were made possible through the assistance of several important public agencies and private institutions. Public and private financing for the development were provided by the City of South San Francisco Redevelopment Agency, San Mateo County, California Department of Housing and Community Development, Silicon Valley Bank and MMA Financial. Van Meter Williams Pollack is the architect, and Segue Construction is the general contractor. For more information about Grand Oak Apartments and BRIDGE Housing, visit www.bridgehousing.com. # # # NOTE TO EDITORS: Photographs of Grand Oak are available; please contact Lyn Hikida at 415-321-3552 or lhikida@bridgehousing.com to request. | 
