Santa Clara – Walk Street Affordable Housing Project
REthink Development successfully entitled and secured City Council approval for a 151-unit, 100% affordable housing community supporting Santa Clara’s broader district-wide affordability goals. This project took the affordable requirements for both Ensemble’s and Related projects offering a deeper level of affordability which gave over $20 million of long-term value to the City. The team subsequently executed a strategic sale to USA Properties Fund with Google affordable housing funding while retaining ownership of 5,000 SF of retail and 9,000 SF of pedestrian paseo and activity zone.
This project supports:
Outdoor dining and community programming
Activation of the walk street connecting new mixed-use projects
Fulfillment of the City’s Housing Element requirements in partnership with Related and USA Properties Fund