A proposal to build an affordable housing project on city-owned land on El Camino Real in Belmont is moving closer to financial help from the city following City Council direction at its Feb. 14 meeting.
The council approved putting out bids for building demolition of the property at 870-900 El Camino Real and 800 Hill St. and adopting a resolution determining the property disposition met health and safety code standards. The property is near Belmont Hardware and has been vacant for more than a decade and was previously small retail, according to city staff.
In its place would go a 37-unit 100% affordable rental housing project, with one unit set aside for a manager. Linc Housing from Long Beach is the developer. Site A at 900 El Camino Real will have 24 units. Site B covers parts of the 800 block of El Camino Real and would offer 13 units.
After the Feb. 14 meeting direction, the council will next consider approving a loan agreement of $1 million in city housing funds at a Feb. 28 meeting. The Planning Commission held a Feb. 7 meeting to consider a planning application for the property and approved project entitlements and recommended the City Council approve a loan agreement between the city and Linc Housing. Jennifer Rose, Housing, Economic Development and Finance manager, said the city plans to sell the property to the developer for $1 in exchange for a 57-year affordable housing agreement at the site.
The city has a 2018 exclusive negotiating agreement with Linc Housing for site development that has been extended several times, and the sale of the property is expected to close in December 2023, a city staff report said. Rose said the developer aims to begin construction in 2024, following the securing of state housing funds. Linc Housing has secured $500,000 and $1.4 million in funding from the San Mateo County Affordable Housing Fund for the development, acceding to the staff report.
The development is also at the northern edge of the Belmont Village Specific Plan, a blueprint for the future downtown Belmont area, and is near the Belmont Caltrain Station. It is also near the Firehouse Square site at 1300 El Camino Real, which will hold 66 affordable housing units and recently started welcoming residents. It would be the smallest affordable housing development in the city, given the site’s small size and the addition of parking. Rose noted there are not a lot of large sites left in the city, with smaller affordable housing projects more likely in the future. Rose said the project was likely unable to have affordable housing without the small land fee sale and loans.
The council also authorized city staff to begin finding bids for the site’s demolition. A city staff report said transients have unlawfully entered the deteriorated buildings, which presents a potential safety issue. It also noted the assessed buildings are considered a public safety hazard. The proposed demolition would be within the parcel boundaries, with no work needed in any public areas. The estimated cost of the destruction is $85,000 and an additional 15% for contingency, with the work going to the lowest responsible bidder. Rose said the city is hopeful to have demolition in the early summer.
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