A property in San Carlos owned by San Mateo County will be developed by MidPen Housing to develop a minimum of 75 affordable units, adding to the much-needed housing catalogue on the Peninsula.
MidPen housing, a nonprofit affordable housing developer, will begin designing housing on three county-owned parcels on the 600 block of Walnut Street in San Carlos, near downtown.
After the land was purchased in February 2024, city and county staff unanimously agreed that MidPen Housing would be the developers, according to a press release Monday.
Newly seated San Carlos Mayor Pranita Venkatesh said the city looks forward to partnering with the county and MidPen to redevelop the vacant lots.
“Its proximity to downtown and transit makes it a key opportunity site for advancing our affordable housing goals,” Venkatesh said in the release.
To reach the city’s Regional Housing Needs Allocation goal for the 2023-31 planning period, San Carlos must develop 2,735 units. Of those, 739 must be dedicated for very-low-income households, 425 for low-income households, and 438 for moderate-income households. Since the beginning of the planning period, San Carlos has issued permits for 77 units, all for market rate developments, as of March 2025.
The Walnut Street development will be reserved for households earning up to 80% of the area median income, according to the release. Specific allocations will be made for extremely low-income households and those experiencing homelessness.
“We applaud the County and City’s leadership and commitment to affordable housing, and look forward to engaging with local stakeholders to create a community that will reflect shared priorities and serve generations to come,” MidPen Housing CEO Matthew Franklin said in the release.
The county purchased the properties — 628, 640 and 648 Walnut St. — in 2024 for $8 million.
“The County is excited to move forward on this project and to work with our partners in the City of San Carlos, and now MidPen Housing,” County Executive Mike Callagy said in the release. “Together, we share in our collective goal to provide affordable housing to benefit our San Carlos residents.”
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