605 Willow Road, Menlo Park, CA (map)
Studio and 1bedrooms | 60 Units
Willow Housing provides affordable, high-quality housing for homeless and at-risk Veterans, in close proximity to healthcare. In-house supportive services will promote wellness, vocational training, self-sufficiency and self-determination. A key priority in the design of the site is to coordinate with the surrounding development patterns and the design standards of the City of Menlo Park, as well as the Veterans Administration hospital’s historic buildings. The site design preserves mature heritage oak trees and includes serene outdoor recreation space for residents.The land is made available through the Department of Veterans Affairs BURR Initiative, which contributes underutilized land and building assets toward the goal of ending Veteran homelessness. Financing was provided by the City of Menlo Park, County of San Mateo, Department of Veterans Affairs, and the California Tax Credit Allocation Committee’s Federal and State LIHTC programs, in partnership with National Equity Fund and Silicon Valley Bank. Additional funding was provided by MetLife Foundation & Northrup Grumman.
Property Website: http://vethousing.thecorecompanies.com/
OWNER: Willow Housing, LP
NON-PROFIT PARTNER: Cecilia Place Homes
INVESTOR LIMITED PARTNER: National Equity Fund, Inc.
YEAR COMPLETED: December 2015
ARCHITECT VTBS: Architects
GENERAL CONTRACTOR: Core Builders Inc
TOTAL DEVELOPMENT: COST $29,499,713
RENT RESTRICTIONS: Affordable, 50% and 60% AMI