Buyers of below market rate housing in proposed San Carlos condominiums will pay $220,000 for a three-bedroom unit — and may get half off the cost of parking spaces expected to sell for up to $75,000 each.
City planning commissioners meet again Monday about the five-story, 35-unit development at 626 Walnut St. but the municipal staff recommends continuing the matter to allow more time for review of parking costs for buyers of the four below-market units.
At the Planning Commission’s Jan. 21 meeting, Chair John Dugan said below market rates should apply to parking as well as housing.
People who need such affordable housing don’t necessarily get to choose where their jobs are located and work might not be on a Caltrain line, Dugan said.
“I bet more times than not they need to drive,” he said.
Most jobs in the Bay Area require a car to reach, Dugan added.
Below-market rate buyers may not have the option of a south of Market Street job with a high-tech company that provides a private, white bus for workers, he said.
A resident had questioned subsidizing parking for the affordable housing units in the proposed condos. The city is encouraging public transit, she said.
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“It doesn’t feel right,” the commission was told.
Commissioner Jim Iacoponi said that with a total of 45 parking spaces, the four at a lower cost for below market buyers would mean only about $2,500 extra for others in the condominium development.
“It seems not a bad thing to ask,” Iacoponi said.
City Attorney Greg Rubens, in suggesting additional review, said housing affordability and density bonuses that are involved in the Walnut Street development are a very complicated area of the law. A special counsel may need to be consulted about parking space costs and the affordability of units., Rubens said.
Existing commercial and residential buildings at the Walnut Street site would be demolished for the new building.
Planning commissioners meet 7 p.m. Monday, Feb. 3, in the City Council chambers at 600 Elm St. in San Carlos.
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