Daly City, CA (February 22, 2023) – In an effort to spur development of local affordable housing projects, a total of $12.5 million has been awarded to support an approved affordable housing project located at 493 Eastmoor Avenue in Daly City. The state has awarded $3 million to CORE Affordable Housing, the developer of this project, and the County of San Mateo Board of Supervisors has pledged an additional $9.5 million to the project.
This funding will support the construction of 72 affordable rental homes for extremely low and very low-income individuals and families, which the Daly City Council unanimously approved on February 24, 2020.
“There is a tremendous need for housing in the Bay Area, particularly affordable housing, so I am extremely grateful that Daly City is a recipient of significant financial support from Supervisor Canepa and the San Mateo Board of Supervisors, as well as the state.” Mayor Raymond A. Buenaventura.
“I have always been a proponent for affordable housing. Having served as the Vice Mayor when this project was approved, I am delighted that funding sources are being allocated to support the development of this project for the community.” Vice Mayor Juslyn C. Manalo
CORE is pursuing additional funding to meet its anticipated groundbreaking slated for June 2024.