Attachment D - Alta Housing Proposal — Palo Alto City Council, January 21, 2025

ALTA

HOUSING

LOT T REFINED

PROPOSAL
—

CITY OF PALO ALTO
OCTOBER 2024
Lot T Refined Proposal | Alta Housing | 10.29.24

COVER LETTER
PAGE 03

OVERVIEW OF

DEVELOPMENT OPTIONS
PAGE 04

SCENARIO A

ON-SITE PARKING FOR

RESIDENTS ONLY
PAGE 07

SCENARIO B

ON-SITE RESIDENT &

PUBLIC PARKING
PAGE 16

SCENARIO C

NO ON-SITE PARKING FOR

RESIDENTS OR THE PUBLIC
PAGE 26

TEAM & EXPERIENCE
PAGE 35

TABLE OF CONTENTS
2 3
October 29, 2024
Julia Knight
City of Palo Alto
Planning and Development Services Department
250 Hamilton Avenue
Palo Alto, CA 94301
Dear Ms. Knight:

On behalf of Alta Housing and Pyatok Architects, we are pleased to submit our proposal in response to the City of Palo Alto’s RFP to redevelop Lot T. This site offers an exceptional opportunity to create much-needed affordable housing in a prime location in downtown Palo Alto. With its corner location and rectangular shape, we can design an efficient, light-filled building that provides ample open space for residents and is thoughtfully integrated into the surrounding mix of residential and commercial uses.

Our team, in collaboration with Pyatok Architects, has conducted a thorough analysis of the three scenarios outlined in the City’s RFP. We are excited to present our development concepts, each with a distinct parking arrangement and unique financing considerations. In our proposal, we discuss how the inclusion of parking affects the construction type, costs, and financing, while also addressing the challenges associated with certain scenarios.

Alta Housing is proud to call Palo Alto our home base, with 23 out of 28 properties in our portfolio located in the city. For over 50 years, we have been committed to serving this community, and our staff and Board members are deeply connected to the area. As a result, we are particularly invested in the success of projects that enhance the well-being of Palo Alto’s residents. Additionally, Alta Housing and Pyatok Architects have a proven track record of success, having collaborated on three other affordable housing developments in Palo Alto. Our past experience working together ensures a strong foundation for delivering another successful project to the City.

Thank you for your consideration. We are excited about the opportunity to once again partner with the City of Palo Alto to develop Lot T.

Sincerely,
Randy Tsuda
President & CEO, Alta Housing
3460 West Bayshore Road, Suite 104, Palo Alto, CA 94303

4 OVERVIEW OF

DEVELOPMENT

OPTIONS
4 5
Lot T Refined Proposal | Alta Housing | 10.29.24

LOT T PROPOSED DEVELOPMENTS

OVERVIEW OF DEVELOPMENT OPTIONS
Lot T offers an ideal setting for affordable housing, located just one block from the vibrant downtown commercial area of Palo Alto and one block from Johnson Park, which is well-loved by the community for its community garden, playground area, and grassy field. The site is highly accessible, with Caltrain and multiple bus routes nearby, including a bus stop at the corner of Kipling Street and Lytton Avenue. The surrounding neighborhood is a mix of residential and commercial buildings, making it well-suited for a multifamily housing development. The lot is on a corner and rectangular in shape – ideal for designing a simple yet attractive building that maximizes natural light for residents.

Based on data provided by the City, the 52-stall lot is currently only about half occupied at its peak time. Given its relatively low utilization rate, the redevelopment of Lot T would likely be less disruptive during construction than some of the more heavily used lots, and the potential loss of parking spaces would be less problematic.

The Alta Housing and Pyatok teams were excited to explore the three development scenarios outlined in the City’s RFP. We analyzed the various scenarios with a focus on optimizing both the physical design and financial feasibility.

From the analysis, we generated the following three development concepts that make the most of the site while offering varying amounts of parking as requested by the City. 1 As defined by the California Tax Credit Allocation Committee, where at least 25% of the units are two-bedroom units and 25% of the units are three-bedroom units.

We note that in our response to the City’s RFI in 2023, we proposed a Large Family project for Lot T due to its location in a High Resource Opportunity Area, which made it more competitive for Low Income Housing Tax Credit (LIHTC) funding. However, in 2024, the downtown Palo Alto area between the Palo Alto/Menlo Park border and Forest Avenue was reclassified as a Moderate Resource Opportunity Area. Despite this change, we believe that continuing with a Large Family project is still a strong strategy for two reasons: 1) the designation could revert back to High Resource within the next three years, and 2) the City has expressed an interest in affordable housing for families. Therefore, we envisioned the development as a Large Family project for all three scenarios in our proposal, with equivalent amenities and service / back-of-house spaces. If selected as the developer of Lot T, we are open to revisiting this strategy and engaging in a dialogue with the City to determine the population that best aligns with the City’s housing goals and community needs.

SCENARIO A

ON-SITE PARKING FOR

RESIDENTS

SCENARIO B

ON-SITE PARKING FOR

RESIDENTS AND PUBLIC

SCENARIO C

NO ON-SITE

PARKING
Type of Project Large Family 1 Large Family 1 Large Family 1 Unit Mix
1-BR: 23
2-BR: 15
3-BR: 16
Total: 54
0-BR: 4
1-BR: 18
2-BR: 20
3-BR: 15
Total: 57
1-BR: 20
2-BR: 14
3-BR: 13
Total: 47
Number of Parking Stalls 27 52 0
Building Height
5 stories
(4 residential stories above one
level of parking)
7 stories
(5 residential stories above two
levels of parking)
4 stories
(all residential)
Total Development
Cost
$55.4 M
($1.03 M / unit)
$70.1 M
($1.23 M / unit)
$46.0 M
($979,210 / unit)
6 Lot T Refined Proposal | Alta Housing | 10.29.24
In all of the scenarios, we are requesting a $4 million contribution (plus accrued and deferred construction interest) in soft financing from the City, and a nominal fee ground lease. We believe this request is reasonable, based on the City’s current Affordable Housing Funds NOFA and the annual availability of Local Housing Trust Fund (LHTF) financing from the state.

We will present each development scenario in greater detail on the following pages. While we kept the unit mix and floor plans relatively consistent across the scenarios, each rendering features a different architectural style.

This approach highlights how varying building heights naturally lend themselves to different styles. Additionally, we wanted to showcase the versatility of the Pyatok design team and their ability to work with a range of architectural aesthetics. If selected, we look forward to collaborating with the City and community to determine the style that best suits the site and responds to community input.

All scenarios will meet or exceed Palo Alto’s Green Building Standards requirements, including meeting CalGreen Tier 2 with Reach goals. Similar to Alta and Pyatok’s Wilton Court project, 450 Lytton will meet these high sustainability standards by utilizing EV parking (in scenarios with parking), rooftop solar panels, low-flow plumbing fixtures, doubt-tolerant landscaping, and high-efficiency lighting. Additional strategies will include designing for durability (especially in high-use and high-touch areas), recycling stations throughout the building, and energy- efficient appliances.
7 ON-SITE PARKING

FOR RESIDENTS
ONLY

SCENARIO A
7 8
Lot T Refined Proposal | Alta Housing | 10.29.24
Drawing inspiration from the historic charm of downtown Palo Alto’s classic multifamily and hotel buildings, Scenario A reimagines timeless architecture with modern flair. The stone veneer and smooth cement plaster facade seamlessly integrate into the urban landscape, while a striking cantilevered crown rises above, creating a bold silhouette against the sky. The building’s elegant design follows the classic architectural structure of base, middle, and top, adding depth and sophistication to the streetscape.

Located within a half-mile of the Palo Alto Transit Center, with its Caltrain station and bus hub, Lot T is ideally positioned to benefit from the reduced parking requirements for affordable housing allowed under streamlining legislation SB35 / SB423. While the legislation permits a no-parking option, this design assumes a reduced parking count, providing parking at a ratio of approximately 0.5 spaces per unit. The development team would work with the city to promote alternate modes of transportation.

On the ground level, resident and property management spaces, including a teen room, along with essential back- of-house services and utility spaces, gracefully wrap around and discreetly shield the residential parking garage.

Above, the C-shaped residential floors embrace sunlight from the southwest, with a lively community room and shared laundry area opening up to the podium courtyard – a vibrant outdoor space with playground equipment and seating areas. The courtyard has direct egress to Kipling Street, enhancing safety and connectivity.

As you ascend to the upper floors, additional laundry lounges provide more than just convenience – they offer views of the downtown skyline and the rolling hills to the south, elevating everyday moments into scenic experiences. This design balances history and modernity, functionality, and beauty.

SCENARIO A

ON-SITE PARKING FOR RESIDENTS ONLY
Conceptual rendering for illustrative purposes only.
9 Lot T Refined Proposal | Alta Housing | 10.29.24
Project Data
Building Height: 60 ft.
• 55 ft. to roof structure, with 5 ft. parapet,
Stair / Elevator Penthouses to 65 ft. max.

Construction Type: Four (4) stories wood or light-gauge metal frame (Type V-A) over one (1) story concrete (Type I-A) Gross Building Area: 70,629 gsf
Gross Leasable Area: 42,710 gsf (residential units only) Number of Residential Units by Type/Size:
• 23 (42%) 1 BR 1 BA (572 average, 450 sf min per TCAC) • 15 (28%) 2 BR 1 BA (806 average, 700 sf min per TCAC) • 16 (30%) 3 BR 2 BA (1,092 average, 900 sf min per TCAC) • 54 (100%) total units (790 average)
On-Site Parking: 27 total spaces
• 24 standard spaces (9 ft. x 18 ft.)
• 3 accessible spaces (2 accessible, 1 van accessible)
On-Site Services: Resident services coordination for all households and case management services for households
in Rapid Rehousing units.

Amenities:
• Property Management and Service offices on the ground floor
• Teen Room (+/- 450 GSF) for youth aged 13-17 years old located on the ground floor with views of the street
• Community Room w/ Laundry on 2nd floor (+/- 1,380 gsf) with shared kitchen, seating areas, tables, computer
area, table & chair storage. Laundry to have three sets of washers and dryers
• Laundry / Lounges on upper floors (+/-250 gsf each) to have at least 1 set washers and dryers as well as folding area and seating
• Podium Courtyard (+/-3,900 sf) will include landscape planting, seating areas, children’s play area for ages 2-12 (600 sf min)
• Bike Parking on the ground floor
Target Population: Large family project with 25% of units set aside for homeless individuals and households
Affordability: Twenty-seven (27) units will be for extremely- low-income households (<30% AMI). Three (3) units will
be for households earning up to 50% AMI. The remaining
23 affordable units will be for households earning up to 60% AMI.

SCENARIO A

ON-SITE PARKING FOR RESIDENTS ONLY
Conceptual rendering for illustrative purposes only.

UP
UP
6' - 0"30' - 0"21' - 0"10' - 0"22' - 0"22' - 0"1' - 6"
26' - 0" 39' - 0" 19' - 0" 22' - 0" 23' - 0" 22' - 0" 10' - 0" 7' - 0" 168' - 0"
WASTE

COLLECTION
BIKES
STAIR
STAIR
4' - 0"
1' - 6"
62' - 0" 23' - 0" 21' - 0" 5' - 0"
112' - 6"
BOH

LOBBY & MAIL

PARKING
(27 SPACES)
+/-9,700 GSF
MECH./ELEC.
24' - 0"

VAN ACC
167' - 0" 1' - 0"

OFFICES TRANSFORMER
MECH.

MAINTENANCE
ROOM & MAINT. OFFICE
ACC

SERVICE

TEEN ROOM

STORAGE
3' - 0"
LYTTON AVE.

KIPLING ST.

MECH.

CORR.

LANDSCAPING
AREAS
2BR2BR
3BR
2BR

LAUNDRY/
LOUNGE
STAIR
STAIR
WASTE
168' - 0"
26' - 0" 6' - 0" 26' - 0" 58' - 0" 42' - 0" 10' - 0"
10' - 6" 26' - 0" 22' - 0" 22' - 0" 27' - 0" 5' - 0"
26' - 0"31' - 0"10' - 0"22' - 0"22' - 0"1' - 6"
112' - 6"
MECH.
3BR
42' - 0" 42' - 0" 45' - 0" 22' - 0" 10' - 0" 7' - 0"
1BR
2BR
31' - 0" 22' - 0"
1 BR3BR
1BR
1 BR
3BR
1 BR
1BR
18' - 0"
15' - 0"
KIPLING ST.

LYTTON AVE.

LEVEL 1
+0' - 0"
LEVEL 3
+25' - 0"
LEVEL 4
+35' - 0"
LEVEL 5
+45' - 0"
ROOF
+55' - 0"
T.O. PARAPET
+60' - 0"
LEVEL 2
+13' - 0"
13' - 0" 42' - 0"
55' - 0"
2BR
2BR
3BR

COMMUNITY ROOM / LAUNDRY
STAIR
STAIR
WASTE
168' - 0"
26' - 0" 6' - 0" 26' - 0" 58' - 0" 42' - 0" 10' - 0"
10' - 6" 26' - 0" 22' - 0" 22' - 0" 27' - 0" 5' - 0"
26' - 0"31' - 0"10' - 0"22' - 0"22' - 0"1' - 6"
112' - 6"
MECH.
15' - 0" 53' - 0"
PODIUM OPEN SPACE - LEVEL 2
(+/- 3,390 Usable GSF)
Landscape planting areas, seating areas,
children's play space
3 BR
3BR
42' - 0" 42' - 0" 45' - 0" 22' - 0" 10' - 0" 6' - 0"1' - 0" 1BR
2BR
1 BR3BR
1BR
1BR

PODIUM EGRESS
1BR
18' - 0"
© 2019 PYATOK ARCHITECTURE & URBAN DESIGN

REVISION SCHEDULE
NO. ISSUE DATE
STAMP:

SHEET:

DRAWN BY:

CHECKED BY:

ISSUE DATE:

SCALE:

TITLE:

JOB NUMBER:

PRELIMINARY - Not for Construction -
1611 TELEGRAPH AVE.

SUITE 200
OAKLAND, CA 94612
T. 510.465.7010 | F. 510.465.8575
www.pyatok.com
1/16" = 1'-0"
10/28/2024 10:39:45 AM

SCENARIO A
Alta Housing
0000
Author
Checker
xx/xx/xxxx
Parcel T Site Study
T0.01
450 Lytton Ave. (Parcel T)
Palo Alto, CA 94301
Sobrato Center for
NonProfits
Palo Alto, CA
Parcel T
450 Lytton Avenue
APN: 120-15-100
Site Area: 19,236 sf
Podium 4,478 GSF
Usable Open Space (Courtyard): 3,390 GSF
(62 sf/unit)
UNIT MIX:

Total Units - 54 (790 gsf average)
1 BR (572 GSF) 23 (42%)
2 BR (806 GSF) 15 (28%)
3 BR (1,092 GSF) 16 (30%)

GROSS BUILDING AREA (GSF) - BY FLOOR
Name Floor Area
LEVEL 1
Amenity 3,191 SF
Circulation - Horiz. 963 SF
Circulation - Vertical 630 SF
Service 12,822 SF
17,606 SF
LEVEL 2
Circulation - Horiz. 825 SF
Circulation - Vertical 630 SF
Residential 9,644 SF
11,099 SF
LEVEL 3
Amenity 255 SF
Circulation - Horiz. 1,627 SF
Circulation - Vertical 630 SF
Residential 11,022 SF
Service 231 SF
13,765 SF
LEVEL 4
Amenity 255 SF
Circulation - Horiz. 1,627 SF
Circulation - Vertical 630 SF
Residential 11,022 SF
Service 231 SF
13,765 SF
LEVEL 5
Amenity 255 SF
Circulation - Horiz. 1,627 SF
Circulation - Vertical 630 SF
Residential 11,022 SF
Service 231 SF
13,765 SF
ROOF
Circulation - Vertical 630 SF
630 SF
Total Building Area: 70,629 SF
1BR
2BR
3BR
5 3
4 6
4 4
23 15
16 L2 L3 L4 L5 Total
12 14 14 14 54
6 4
4 6
4 4
PARKING MIX:

Total Spaces: 27 (all EV installed or ready) = 0.5 space/unit 24 Standard Spaces
3 Accessible Spaces (2ACC, 1 Van ACC)
LOT COVERAGE: 18,379 SF / 19,236 SF = 95%
FAR: Floor Area (70,189 SF) / Lot Area (19,236 SF) = 3.65 Upper Levels (3-5)
Podium Level (2)
Ground Floor (1)
UP
UP
6' - 0"30' - 0"21' - 0"10' - 0"22' - 0"22' - 0"1' - 6"
26' - 0" 39' - 0" 19' - 0" 22' - 0" 23' - 0" 22' - 0" 10' - 0" 7' - 0" 168' - 0"
WASTE

COLLECTION
BIKES
STAIR
STAIR
4' - 0"
1' - 6"
62' - 0" 23' - 0" 21' - 0" 5' - 0"
112' - 6"
BOH

LOBBY & MAIL

PARKING
(27 SPACES)
+/-9,700 GSF
MECH./ELEC.
24' - 0"

VAN ACC
167' - 0" 1' - 0"

OFFICES TRANSFORMER
MECH.

MAINTENANCE
ROOM & MAINT. OFFICE
ACC

SERVICE

TEEN ROOM

STORAGE
3' - 0"
LYTTON AVE.

KIPLING ST.

MECH.

CORR.

LANDSCAPING
AREAS
2BR2BR
3BR
2BR

LYTTON AVE.

LEVEL 1
+0' - 0"
LEVEL 3
+25' - 0"
LEVEL 4
+35' - 0"
LEVEL 5
+45' - 0"
ROOF
+55' - 0"
T.O. PARAPET
+60' - 0"
LEVEL 2
+13' - 0"
13' - 0" 42' - 0"
55' - 0"
2BR
2BR
3BR

PODIUM EGRESS
1BR
18' - 0"
© 2019 PYATOK ARCHITECTURE & URBAN DESIGN

REVISION SCHEDULE
NO. ISSUE DATE
STAMP:

SHEET:

DRAWN BY:

CHECKED BY:

ISSUE DATE:

SCALE:

TITLE:

JOB NUMBER:

PRELIMINARY - Not for Construction -
1611 TELEGRAPH AVE.

SUITE 200
OAKLAND, CA 94612
T. 510.465.7010 | F. 510.465.8575
www.pyatok.com
1/16" = 1'-0"
10/28/2024 10:39:45 AM

Total Units - 54 (790 gsf average)
1 BR (572 GSF) 23 (42%)
2 BR (806 GSF) 15 (28%)
3 BR (1,092 GSF) 16 (30%)

Total Spaces: 27 (all EV installed or ready) = 0.5 space/unit 24 Standard Spaces
3 Accessible Spaces (2ACC, 1 Van ACC)
LOT COVERAGE: 18,379 SF / 19,236 SF = 95%
FAR: Floor Area (70,189 SF) / Lot Area (19,236 SF) = 3.65 UP
UP
6' - 0"30' - 0"21' - 0"10' - 0"22' - 0"22' - 0"1' - 6"
26' - 0" 39' - 0" 19' - 0" 22' - 0" 23' - 0" 22' - 0" 10' - 0" 7' - 0" 168' - 0"
WASTE

COLLECTION
BIKES
STAIR
STAIR
4' - 0"
1' - 6"
62' - 0" 23' - 0" 21' - 0" 5' - 0"
112' - 6"
BOH

LOBBY & MAIL

PARKING
(27 SPACES)
+/-9,700 GSF
MECH./ELEC.
24' - 0"

VAN ACC
167' - 0" 1' - 0"

OFFICES TRANSFORMER
MECH.

MAINTENANCE
ROOM & MAINT. OFFICE
ACC

SERVICE

TEEN ROOM

STORAGE
3' - 0"
LYTTON AVE.

KIPLING ST.

MECH.

CORR.

LANDSCAPING
AREAS
2BR2BR
3BR
2BR

LYTTON AVE.

LEVEL 1
+0' - 0"
LEVEL 3
+25' - 0"
LEVEL 4
+35' - 0"
LEVEL 5
+45' - 0"
ROOF
+55' - 0"
T.O. PARAPET
+60' - 0"
LEVEL 2
+13' - 0"
13' - 0" 42' - 0"
55' - 0"
2BR
2BR
3BR

PODIUM EGRESS
1BR
18' - 0"
© 2019 PYATOK ARCHITECTURE & URBAN DESIGN

REVISION SCHEDULE
NO. ISSUE DATE
STAMP:

SHEET:

DRAWN BY:

CHECKED BY:

ISSUE DATE:

SCALE:

TITLE:

JOB NUMBER:

PRELIMINARY - Not for Construction -
1611 TELEGRAPH AVE.

SUITE 200
OAKLAND, CA 94612
T. 510.465.7010 | F. 510.465.8575
www.pyatok.com
1/16" = 1'-0"
10/28/2024 10:39:45 AM

Total Units - 54 (790 gsf average)
1 BR (572 GSF) 23 (42%)
2 BR (806 GSF) 15 (28%)
3 BR (1,092 GSF) 16 (30%)

Total Spaces: 27 (all EV installed or ready) = 0.5 space/unit 24 Standard Spaces
3 Accessible Spaces (2ACC, 1 Van ACC)
LOT COVERAGE: 18,379 SF / 19,236 SF = 95%
FAR: Floor Area (70,189 SF) / Lot Area (19,236 SF) = 3.65 UP
UP
6' - 0"30' - 0"21' - 0"10' - 0"22' - 0"22' - 0"1' - 6"
26' - 0" 39' - 0" 19' - 0" 22' - 0" 23' - 0" 22' - 0" 10' - 0" 7' - 0" 168' - 0"
WASTE

COLLECTION
BIKES
STAIR
STAIR
4' - 0"
1' - 6"
62' - 0" 23' - 0" 21' - 0" 5' - 0"
112' - 6"
BOH

LOBBY & MAIL

PARKING
(27 SPACES)
+/-9,700 GSF
MECH./ELEC.
24' - 0"

VAN ACC
167' - 0" 1' - 0"

OFFICES TRANSFORMER
MECH.

MAINTENANCE
ROOM & MAINT. OFFICE
ACC

SERVICE

TEEN ROOM

STORAGE
3' - 0"
LYTTON AVE.

KIPLING ST.

MECH.

CORR.

LANDSCAPING
AREAS
2BR2BR
3BR
2BR

LYTTON AVE.

LEVEL 1
+0' - 0"
LEVEL 3
+25' - 0"
LEVEL 4
+35' - 0"
LEVEL 5
+45' - 0"
ROOF
+55' - 0"
T.O. PARAPET
+60' - 0"
LEVEL 2
+13' - 0"
13' - 0" 42' - 0"
55' - 0"
2BR
2BR
3BR

PODIUM EGRESS
1BR
18' - 0"
© 2019 PYATOK ARCHITECTURE & URBAN DESIGN

REVISION SCHEDULE
NO. ISSUE DATE
STAMP:

SHEET:

DRAWN BY:

CHECKED BY:

ISSUE DATE:

SCALE:

TITLE:

JOB NUMBER:

PRELIMINARY - Not for Construction -
1611 TELEGRAPH AVE.

SUITE 200
OAKLAND, CA 94612
T. 510.465.7010 | F. 510.465.8575
www.pyatok.com
1/16" = 1'-0"
10/28/2024 10:39:45 AM

Total Units - 54 (790 gsf average)
1 BR (572 GSF) 23 (42%)
2 BR (806 GSF) 15 (28%)
3 BR (1,092 GSF) 16 (30%)

Total Spaces: 27 (all EV installed or ready) = 0.5 space/unit 24 Standard Spaces
3 Accessible Spaces (2ACC, 1 Van ACC)
LOT COVERAGE: 18,379 SF / 19,236 SF = 95%
FAR: Floor Area (70,189 SF) / Lot Area (19,236 SF) = 3.65 Kipling Street (North)
3D Axon — Courtyard
3D Axon — Street
10 Lot T Refined Proposal | Alta Housing | 10.29.24

SCENARIO A

ON-SITE PARKING FOR RESIDENTS ONLY
11 Lot T Refined Proposal | Alta Housing | 10.29.24
Unit Mix Schedule

SCENARIO A

FINANCIAL PROFORMA
In Scenario A, we propose a unit mix that includes 14 Rapid Rehousing (RRH) units (25% of the total units), which are targeted towards the episodically homeless population. Additionally, we plan to assist 13 households at 30% AMI and 3 households at 50% AMI using Section 8 Project-Based Vouchers (PBVs). Although the typical maximum percentage of PBVs per project is 25%, this project qualifies for an exception due to its location in a census tract with a poverty rate below 20%.

Our recommendation to include PBVs for a few 50% AMI units stems from a request made by the Santa Clara County Office of Supportive Housing at another Alta Housing project. They noted that some households with multiple wage earners were unable to qualify for 30% AMI units because their combined incomes slightly exceeded the threshold. As a result, they requested the availability of PBVs for households earning 50% AMI.

Due to the $2,500,000 annual tax credit cap for 9% LIHTC projects, Scenario A is best suited for financing through 4% LIHTCs. In addition to LIHTC equity, we are considering funding sources such as the CA Department of Housing and Community Development (CA HCD), the City of Palo Alto, and State Tax Credits. Our proposed unit mix aligns with the Santa Clara County Office of Supportive Housing’s Project Types, making it eligible for County / BAHFA funding if that source becomes available in the coming years. This would allow us to potentially replace or supplement the other soft funding sources.

The estimated total development cost of Scenario A is $55.4 million.

UNIT
SIZE
NO.

UNITS % AMI
RRH
UNITS
FAMILY

PBV BASE RENT SUBSIDY INCOME
1 BR 10 30% 10 114,960 114,960
2 BR 8 30% 2 6 109,248 135,936 245,184
3 BR 9 30% 2 7 140,616 216,216 356,832
3 BR 3 50% 3 81,396 58,140 139,536
1 BR 13 60% 311,220 311,220
2 BR 6 60% 171,504 171,504
3 BR 4 60% 131,520 131,520
2 BR 1 Mgr Unit 0
TOTAL 54 44.2% 14 16 1,060,464 410,292 1,470.756
12 Lot T Refined Proposal | Alta Housing | 10.29.24
Permanent Sources of Financing
Construction Sources
Uses

SCENARIO A

SOURCE AMOUNT PER UNIT INTEREST TERM-YRS DCR
Permanent Loan 7,286,678 134,938 7.25% 35 1.15
CA HCD MHP 13,500,000 250,000 3% 55
City of Palo Alto 4,140,000 76,667 3% 55
Equity from LIHTC (Federal & State) 30,461,526 564,102
Total Sources 55,388,204 1,025,707

SOURCE AMOUNT PER UNIT INTEREST TERM-MOS
Tax Exempt Construction Loan 27,859,000 515,907 7.75% 28 Taxable Construction Loan 17,774,809 329,163 8.00% 28
City of Palo Alto 4,140,000 76,667 3% 28
Costs Deferred until Perm Closing 2,568,241 47,560
Equity from LIHTC 3,046,154 56,410
Total Sources 55,388,204 1,025,707

USE AMOUNT PER UNIT
Hard Costs 39,074,434 723,601
Design & Engineering 2,139,801 39,626
Development Impact & Permit Fees 986,205 18,263
Insurance During Construction 1,289,456 23,879
Developer Fee 2,500,000 46,296
Other Soft Costs 2,088,890 38,683
Financing Costs 7,309,417 135,360
Total Development Cost 55,388,204 1,205.707
13 Lot T Refined Proposal | Alta Housing | 10.29.24
Cash Flow Analysis

SCENARIO A
YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10 YR 11 YR 12 YR 13 YR 14 YR 15 Gross Potential Income
Gross TCAC Rent 1,060,464 1,086,976 1,114,150 1,142,004 1,170,554 1,199,818 1,229,813 1,260,558 1,292,072 1,324,374 1,357,484 1,391,421 1,426,206 1,461,861 1,498,408 Section 8 Incremental Income 410,292 420,549 431,063 441,840 452,886 464,208 475,813 487,708 499,901 512,398 525,208 538,339 551,797 565,592 579,732 Miscellaneous Income 6,750 6,919 7,092 7,269 7,451 7,637 7,828 8,024 8,224 8,430 8,641 8,857 9,078 9,305 9,538 Less Vacancy/Loss - TCAC Rents (53,023) (54,349) (55,707) (57,100) (58,528) (59,991) (61,491) (63,028) (64,604) (66,219) (67,874) (69,571) (71,310) (73,093) (74,920) Less Vacancy/Loss - Sec 8 Incr (20,515) (21,027) (21,553) (22,092) (22,644) (23,210) (23,791) (24,385) (24,995) (25,620) (26,260) (26,917) (27,590) (28,280) (28,987) Effective Gross Income 1,403,968 1,439,067 1,475,044 1,511,920 1,549,718 1,588,461 1,628,173 1,668,877 1,710,599 1,753,364 1,797,198 1,842,128 1,888,181 1,935,386 1,983,770 Less Operating Expenses (648,000) (670,680) (694,154) (718,449) (743,595) (769,621) (796,557) (824,437) (853,292) (883,157) (914,068) (946,060) (979,172) (1,013,444) (1,048,914) Less Replacement Reserve (27,000) (27,000) (27,000) (27,000) (27,000) (27,000) (27,000) (27,000) (27,000) (27,000) (27,000) (27,000) (27,000) (27,000) (27,000) Less HCD Annual Fee 0.42% (56,700) (56,700) (56,700) (56,700) (56,700) (56,700) (56,700) (56,700) (56,700) (56,700) (56,700) (56,700) (56,700) (56,700) (56,700) Less City Annual Fee 125 (12,150) (12,150) (12,150) (12,150) (12,150) (12,150) (12,150) (12,150) (12,150) (12,150) (12,150) (12,150) (12,150) (12,150) (12,150) Net Operating Income 660,118 672,537 685,040 697,621 710,273 722,990 735,765 748,590 761,457 774,356 787,280 800,218 813,159 826,092 839,006 Less Debt Service (574,016) (574,016) (574,016) (574,016) (574,016) (574,016) (574,016) (574,016) (574,016) (574,016) (574,016) (574,016) (574,016) (574,016) (574,016) Less Issuer Fee 4,000 (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) Net Cash Flow, First Cut 82,102 94,522 107,024 119,605 132,257 144,975 157,749 170,574 183,441 196,341 209,264 222,202 235,143 248,076 260,990 Debt Coverage Ratio 1.15 1.17 1.19 1.22 1.24 1.26 1.28 1.30 1.33 1.35 1.37 1.39 1.42 1.44 1.46 Less Ptrship Mgmt Fee - LP 7,500 (7,500) (7,725) (7,957) (8,195) (8,441) (8,695) (8,955) (9,224) (9,501) (9,786) (10,079) (10,382) (10,693) (11,014) (11,344) Less Ptrship Mgmt Fee - GP 19,500 (19,500) (20,085) (20,688) (21,308) (21,947) (22,606) (23,284) (23,983) (24,702) (25,443) (26,206) (26,993) (27,802) (28,636) (29,495) Net Cash Flow, 2nd Cut 55,102 66,712 78,380 90,102 101,869 113,674 125,510 137,368 149,238 161,112 172,978 184,827 196,647 208,426 220,151 Deferred Fee/Incentive Mgmt Fee 33% (18,349) (22,215) (26,101) (30,004) (33,922) (37,854) (41,795) (45,743) (49,696) (53,650) (57,602) (61,548) (65,484) (69,406) (73,310) Cash Distribution
CA HCD 13,500,000 77.1% (28,353) (34,326) (40,330) (46,361) (52,416) (58,490) (64,580) (70,682) (76,789) (82,899) (89,005) (95,102) (101,183) (107,244) (113,277) City 4,000,000 22.9% (8,401) (10,171) (11,950) (13,737) (15,531) (17,330) (19,135) (20,943) (22,752) (24,563) (26,372) (28,178) (29,980) (31,776) (33,564) 17,500,000 100.0%
Remaining Cash Flow (0) 0 0 (0) (0) (0) (0) 0 (0) (0) (0) (0) (0) 0 (0) 14 Lot T Refined Proposal | Alta Housing | 10.29.24

SCENARIO A

EVALUATION OF SCENARIO & IMPACT OF ON-SITE PARKING
To optimize cost efficiency while still providing parking on-site for residents, we limited parking to a single parking level at grade. Adding an underground or elevated parking level would significantly increase the cost of construction. We also opted not to use stackers, given both their high cost and concerns from our Property Management team about their reliability and long-term maintenance.

Similarly, to maintain cost efficiency in the residential portion, we limited the building height to four (4) stories of residential over the parking and mixed-use level, the maximum allowed under Type V-A construction. Given the above constraints, we were able to accommodate 54 family units and 27 parking stalls on Lot T, achieving the 0.5 parking ratio. Under CA Tax Credit Allocation Committee (CTCAC) regulations, parking costs must be included in a resident’s rent and cannot be charged separately (i.e., decoupled).

Scenario A follows a fairly typical LIHTC project structure, both in terms of physical design and financial sources.

Compared to the other two scenarios, we consider it the second most feasible. The key risks include 1) assuming the maximum allocation of $250,000 per unit from CA HCD funding, and 2) relying on state tax credits, which are highly competitive. We can mitigate these risks by pursuing additional funding sources such as Federal Home Loan Bank AHP or Apple funding.

CITY CONTRIBUTION
In Scenario A, we are requesting a $4 million soft loan from the City of Palo Alto, to be made available during construction. We anticipate that the interest can accrue and be deferred over the 20-month construction period, and be rolled into the permanent loan at conversion.

Additionally, we are requesting a ground lease at a nominal rate of $1 per year. This nominal ground lease would be considered a contribution by the City. Based on an appraisal conducted by Colliers, we estimate the land’s value to be $7 million.

We will also take advantage of the City’s development impact fee exemptions for affordable housing, which include the Housing Impact Fee, Community Facilities Impact Fee, Parking and Transportation Impact Fees, Public Art Fee and Parkland Dedication. Fee waivers that are not mandated by federal or state law will be considered local contributions.

These contributions from the City are considered “leveraged soft sources” and will be critical when we apply for tax credits since they increase the competitiveness of our application. 15 Lot T Refined Proposal | Alta Housing | 10.29.24

PROJECT MILESTONE ESTIMATED DATE
City selects development partner December 2024
Negotiate & enter into ENA & DDA December 2025
Community engagement - Listening sessions January 2026
Community engagement - Presentation of concept March 2026 Due diligence (Phase I/II, Geotech, Arborist, Surveys, etc.) Jan 2026 - Jun 2026 DESIGN
Conceptual Design February 2026
Schematic Design Mar 2026 - Jul 2026 | (4 mo)
Design Development Drawings Feb 2027 - Jul 2027 | (5 mo) Construction Drawings to 75% completion (permit set) Sep 2027 - Feb 2028 | (5 mo) Value engineering / 100% Construction Drawings February 2029

ENTITLEMENTS
Submit SB423/SB330 Notice of Intent to City of Palo Alto March 2026 Submit SB423 application August 2026
City issues determination whether the project meets the City’s objective standards
October 2026
(60 days)
City grants ministerial approval Nov 2026 | (90 days) Submit building permit application March 2028
Receive building permit ready letter Jan 2029 | (10 months)

FINANCING
Apply for City of Palo Alto funding October 2026
Apply for CA HCD funding April 2027
(award Fall 2027)
Apply for LIHTC/TEB August 2028
(award Dec 2028)
Close on construction financing April 2029

CONSTRUCTION
GC bids project Oct 2028 - Jan 2029 | (3 mo)
Enter into construction contract March 2029
Start construction April 2029
Complete construction Dec 2030 | (20 mo)

LEASE-UP/OCCUPANCY
Begin marketing December 2029
Begin lease-up process June 2030
100% occupancy Feb 2031 | (3 mo)

SCENARIO A

PROJECT SCHEDULE
The following project schedule is based on the timing outlined in the City’s RFP for developer selection and negotiation of the ENA and DDA. It also reflects the current list of financing sources. The project schedule may be affected if we need to add or replace funding sources.
16 ON-SITE RESIDENT &

PUBLIC PARKING

SCENARIO B
16 17
Lot T Refined Proposal | Alta Housing | 10.29.24

SCENARIO B

PARKING FOR RESIDENTS & REPLACEMENT OF PUBLIC PARKING SPACES Rising seven stories on the edge of Palo Alto’s vibrant downtown, this all-concrete building blends sustainability, community, and modern convenience into an inspiring,
family-centered environment.

Approaching the lobby entrance on Kipling Street, residents and visitors are greeted by a stylish entry canopy that shelters an inviting seating area, offering a place to rest or gather. The surrounding streetscape is further enhanced by sidewalk improvements and thoughtful landscaping,
creating a pedestrian-friendly environment that ties the development into the community. Upon entering the two-
story lobby, residents and visitors encounter a spacious and welcoming entrance that sets the tone for the thoughtfully designed spaces throughout the building. The ground
floor features a public parking garage, entered from Lytton Avenue, with pedestrian-friendly access points on both
Lytton and Kipling – an ideal setup for ease of movement through the neighborhood.

The second floor offers additional parking with the garage accessed via a ramp from Lytton Avenue. The property
management office on the ground floor provides peace of mind, offering responsive on-site support.

The heart of the community begins on the third floor, where a communal space opens onto a beautifully landscaped
podium courtyard. Here, families can relax in seating areas surrounded by lush greenery, while children aged 2-12
enjoy a dedicated play area designed for exploration and fun. The adjacent community room and laundry room serve as social hubs, promoting connection among residents, with every detail enhancing daily life. Teenagers have their own retreat on the second floor, giving them a space to relax, socialize, and grow.

The residential floors offer a diverse mix of studio, one-, two-, and three-bedroom apartments, catering to a wide
range of family sizes. With laundry and lounge rooms
conveniently placed on each upper floor, residents can
experience the comfort of modern living. Large windows
offer city and hill views, while carefully curated design elements create warm, welcoming interiors. The building’s exterior is thoughtfully clad in panelized veneer brick or siding – a durable, low-maintenance, and economical
material that ensures both beauty and long-term resilience.

Its clean lines, combined with aluminum frame windows,
give Scenario B a modern yet timeless appeal. The
aluminum-framed windows not only maximize natural light in each unit but also contribute to a sleek, contemporary aesthetic. On the upper two floors, strategic setbacks
reduce the perceived height of the building, creating a more human scale and blending harmoniously with the
surrounding neighborhood. Additionally, bay window
projections further enhance this relationship by echoing the architectural rhythm of nearby buildings, making Scenario B a natural extension of the urban fabric.

Conceptual rendering for illustrative purposes only.
18 Lot T Refined Proposal | Alta Housing | 10.29.24

SCENARIO B

PARKING FOR RESIDENTS & REPLACEMENT OF PUBLIC PARKING SPACES Project Data
Building Height: 75 ft.
• 70 ft. to roof structure, plus 5 ft. parapet,
Stair / Elevator Penthouses to 80 ft max.
• Setback on the 6th & 7th floors, 3 feet on both Kipling and Lytton frontages
Construction Type: Seven (7) stories concrete (Type I-A) Gross Building Area: 88,066 gsf
Gross Leasable Area: 40,830 gsf (residential units only) Number of Residential Units by Type/Size:
• 4 (7%) Studio / 1 BA (416 average, no min per TCAC)
• 18 (32%) 1 BR 1 BA (572 average, 450 sf min per TCAC) • 20 (35%) 2 BR 1 BA (806 average, 700 sf min per TCAC) • 15 (26%) 3 BR 2 BA (1,092 average, 900 sf min per TCAC) • 57 (100%) total units (716 average)
On-Site Parking: Two levels of parking with separate
entrances, both entered from Lytton Ave.

Level 1: Public Parking
• 23 standard spaces (9 ft. x 18 ft.)
• 3 accessible spaces
• 26 total spaces
Level 2: Public Parking or Residents-Only
(0.45 spaces per unit)
• 23 standard spaces (9 ft. x 18 ft.)
• 3 accessible spaces (2 accessible, 1 van accessible)
• 26 total spaces
On-Site Services: Resident services coordination for all households and case management services for households
in Rapid Rehousing units.

Amenities:
• Property Management offices and Resident Lobby with
Mail on ground floor
• Bike Storage on ground floor
• Second Floor Teen Room (+/-525 gsf) for youth aged
13-17
• Service Coordinator offices on 2nd floor
• Maintenance office and supplemental resident storage
on the 2nd floor
• Community Room w/ Laundry on 3rd floor (+/-1,850 gsf) with shared kitchen, seating areas, tables, computer
area, and table and chair storage. Laundry to have three sets of washers and dryers
• Laundry / Lounges on upper floors (+/-250 gsf each) to have at least one set washers and dryers as well as
folding area and seating
• Podium Courtyard will include landscape planting,
seating areas, and children’s play area for ages 2-12
(600 sf min)
Target Population: Large family project with 25% of units set aside for homeless individuals and households
Affordability: Twenty-nine (29) units will be for extremely- low-income households (<30% AMI). Four (4) units will be for households earning up to 50% AMI. The remaining
23 affordable units will be for households earning up to 60% AMI.

Conceptual rendering for illustrative purposes only.
6' - 0"20' - 0"10' - 0"8' - 6"24' - 0"8' - 6"10' - 0"24' - 0"1' - 6" 20' - 0" 40' - 0" 24' - 0" 22' - 0" 25' - 0" 20' - 0" 10' - 0" 7' - 0" 168' - 0"
BIKES
168' - 0"
STAIR
STAIR
112' - 6"
LOBBY
& MAIL
112' - 6"

PARKING FOR PUBLIC
(26 SPACES)
+/-10,110 GSF
MECH./ELEC.

PROPERTY

MANAGEMENT

OFFICES

TRANSFORMER
MECH.

SPEED RAMP
WASTE

VAN ACCACC

12.0%6.0%
24' - 0"
MECH./ELEC.STORAGE
PUBLIC

PARKING ENTRY

RESIDENT

PARKING ENTRY
3' - 0" 74' - 0" 30' - 0" 59' - 0" 2' - 0"
LYTTON AVE.

KIPLING ST.

ACC

PEDESTRIAN

EXIT FROM

PUBLIC GARAGE
1' - 6" 19' - 0" 71' - 0" 17' - 0" 4' - 0"

PEDESTRIAN

EXIT FROM
PUBLIC
GARAGE
2BR
STAIR
STAIR
WASTE
1' - 6" 53' - 0" 54' - 0" 4' - 0"
112' - 6"
3BR 3BR

COMMUNITY ROOM
PODIUM OPEN SPACE - LEVEL 3
(+/- 6,000 gsf)
1 BR
1 BR
2 BR2 BR 2 BR
3BR
1' - 6" 24' - 0" 10' - 0" 31' - 0" 20' - 0" 26' - 0"
26' - 0" 6' - 0" 26' - 0" 108' - 0" 2' - 0"
168' - 0"
42' - 0" 42' - 0" 45' - 0" 22' - 0" 10' - 0" 7' - 0"
10' - 0" 31' - 0" 31' - 0" 31' - 0" 5' - 0"

LAUNDRY
MECH.
1 BR (L4-L7)
STUDIO (L4-L7)
LOBBY
KIPLING ST.

LYTTON AVE.

PARKING ENTRY

FOR RESIDENTS

PUBLIC GARAGE ENTRY
LEVEL 1
+0' - 0"
LEVEL 3
+20' - 0"
LEVEL 4
+30' - 0"
LEVEL 5
+40' - 0"
LEVEL 6
+50' - 0"
ROOF
+70' - 0"
LEVEL 2
+10' - 0"
50' - 0"
70' - 0"
LEVEL 7
+60' - 0"3' - 0"

LAUNDRY/LOUNGE

COMMUNITY ROOM

PODIUM COURTYARD
STAIR
STAIR
1' - 6" 107' - 0" 4' - 0"
112' - 6"
7' - 0"

SERVICE

COORDINATOR

OFFICES

PARKING FOR RESIDENTS
(26 SPACES)

VANACC ACC
OPEN
TO
BELOW

LOADING
20' - 0" 0" 34' - 0" 30' - 0" 67' - 0" 10' - 0"
1' - 6" 24' - 0" 10' - 0" 31' - 0" 0" 10' - 0" 30' - 0" 6' - 0" 94' - 0" 59' - 0"
2' - 0"

TEEN ROOM
3' - 0"

MOTORCYCLE

PARKING
6' - 0"
7' - 0"
2' - 0"

12.0% 6.0%

MAINTENANCE OFFICE &

RESIDENT STORAGE
24' - 0"
26'-0" MIN.

LOBBY
© 2019 PYATOK ARCHITECTURE & URBAN DESIGN

REVISION SCHEDULE
NO. ISSUE DATE
STAMP:

SHEET:

DRAWN BY:

CHECKED BY:

ISSUE DATE:

SCALE:

TITLE:

JOB NUMBER:

PRELIMINARY - Not for Construction -
1611 TELEGRAPH AVE.

SUITE 200
OAKLAND, CA 94612
T. 510.465.7010 | F. 510.465.8575
www.pyatok.com
1/16" = 1'-0"
10/28/2024 10:48:30 AM

SCENARIO B
Alta Housing
0000
Author
Checker
xx/xx/xxxx
Parcel T Site Study
T0.01
450 Lytton Ave. (Parcel T)
Palo Alto, CA 94301
Sobrato Center for
NonProfits
Palo Alto, CA
Parcel T
450 Lytton Avenue
APN: 120-15-100
Site Area: 19,236 sf
Open Space (Courtyard): 6,000 GSF
(103 sf/unit)
UNIT MIX:

Total Units - 57 (716 gsf average)
STUDIO (416 GSF) 4 (7%)
1 BR (572 GSF) 18 (32%)
2 BR (806 GSF) 20 (35%)
3 BR (1,092 GSF) 15 (26%)

GROSS BUILDING AREA (GSF) - BY FLOOR
Name Floor Area
LEVEL 1
Amenity 1,684 SF
Circulation - Vertical 620 SF
Service/Storage 13,253 SF
15,557 SF
LEVEL 2
Amenity 992 SF
Circulation - Horiz. 1,426 SF
Circulation - Vertical 620 SF
Service/Storage 12,043 SF
15,081 SF
LEVEL 3
Amenity 1,846 SF
Circulation - Horiz. 1,848 SF
Circulation - Vertical 620 SF
Residential 5,276 SF
Service/Storage 214 SF
9,804 SF
LEVEL 4
Amenity 364 SF
Circulation - Horiz. 1,718 SF
Circulation - Vertical 620 SF
Residential 9,306 SF
Service/Storage 214 SF
12,222 SF
LEVEL 5
Amenity 364 SF
Circulation - Horiz. 1,718 SF
Circulation - Vertical 620 SF
Residential 9,306 SF
Service/Storage 214 SF
12,222 SF
LEVEL 6
Amenity 364 SF
Circulation - Horiz. 1,718 SF
Circulation - Vertical 620 SF
Residential 8,471 SF
Service/Storage 214 SF
11,387 SF
LEVEL 7
Amenity 364 SF
Circulation - Horiz. 1,718 SF
Circulation - Vertical 620 SF
Residential 8,471 SF
11,173 SF
ROOF
Circulation - Vertical 620 SF
620 SF
Total Building Area: 88,066 SF
STUDIO
1BR
2BR
3BR
0 2
4 3
1 4
4 3
4 18
20 15
L3 L4 L5 L6 Total
9 12 12 12 57
PARKING MIX:

Public Parking (at Grade): 26
Residents Parking (Level 2): 26 = 0.45 space/unit
23 Standard Spaces
3 Accessible Spaces (2ACC, 1 Van ACC)
1 Loading
NOTE: ALL PARKING (RESIDENT & PUBLIC) TO BE EV
INSTALLED/READY PER PAMC CAL GREEN TIER 2
REACH. (20% CHARGERS, 80% PLUG/OUTLETS)
L6
12 1
4 4
3 1
4 4
3 1
4 4
3 LOT COVERAGE: 18,246 SF / 19,236 SF = 95%
FAR: Floor Area (87,418 SF) / Lot Area (19,236 SF) = 4.54 Podium Level (3)
Levels 4-7 similar
Level 2
Ground Floor
6' - 0"20' - 0"10' - 0"8' - 6"24' - 0"8' - 6"10' - 0"24' - 0"1' - 6" 20' - 0" 40' - 0" 24' - 0" 22' - 0" 25' - 0" 20' - 0" 10' - 0" 7' - 0" 168' - 0"
BIKES
168' - 0"
STAIR
STAIR
112' - 6"
LOBBY
& MAIL
112' - 6"

PARKING FOR PUBLIC
(26 SPACES)
+/-10,110 GSF
MECH./ELEC.

PROPERTY

MANAGEMENT

OFFICES

TRANSFORMER
MECH.

SPEED RAMP
WASTE

VAN ACCACC

12.0%6.0%
24' - 0"
MECH./ELEC.STORAGE
PUBLIC

PARKING ENTRY

RESIDENT

PARKING ENTRY
3' - 0" 74' - 0" 30' - 0" 59' - 0" 2' - 0"
LYTTON AVE.

KIPLING ST.

ACC

PEDESTRIAN

EXIT FROM

PUBLIC GARAGE
1' - 6" 19' - 0" 71' - 0" 17' - 0" 4' - 0"

PEDESTRIAN

EXIT FROM
PUBLIC
GARAGE
2BR
STAIR
STAIR
WASTE
1' - 6" 53' - 0" 54' - 0" 4' - 0"
112' - 6"
3BR 3BR

LAUNDRY
MECH.
1 BR (L4-L7)
STUDIO (L4-L7)
LOBBY
KIPLING ST.

LYTTON AVE.

PARKING ENTRY

FOR RESIDENTS

PUBLIC GARAGE ENTRY
LEVEL 1
+0' - 0"
LEVEL 3
+20' - 0"
LEVEL 4
+30' - 0"
LEVEL 5
+40' - 0"
LEVEL 6
+50' - 0"
ROOF
+70' - 0"
LEVEL 2
+10' - 0"
50' - 0"
70' - 0"
LEVEL 7
+60' - 0"3' - 0"

LAUNDRY/LOUNGE

COMMUNITY ROOM

PODIUM COURTYARD
STAIR
STAIR
1' - 6" 107' - 0" 4' - 0"
112' - 6"
7' - 0"

SERVICE

COORDINATOR

OFFICES

PARKING FOR RESIDENTS
(26 SPACES)

VANACC ACC
OPEN
TO
BELOW

LOADING
20' - 0" 0" 34' - 0" 30' - 0" 67' - 0" 10' - 0"
1' - 6" 24' - 0" 10' - 0" 31' - 0" 0" 10' - 0" 30' - 0" 6' - 0" 94' - 0" 59' - 0"
2' - 0"

TEEN ROOM
3' - 0"

MOTORCYCLE

PARKING
6' - 0"
7' - 0"
2' - 0"

12.0% 6.0%

MAINTENANCE OFFICE &

RESIDENT STORAGE
24' - 0"
26'-0" MIN.

LOBBY
© 2019 PYATOK ARCHITECTURE & URBAN DESIGN

REVISION SCHEDULE
NO. ISSUE DATE
STAMP:

SHEET:

DRAWN BY:

CHECKED BY:

ISSUE DATE:

SCALE:

TITLE:

JOB NUMBER:

PRELIMINARY - Not for Construction -
1611 TELEGRAPH AVE.

SUITE 200
OAKLAND, CA 94612
T. 510.465.7010 | F. 510.465.8575
www.pyatok.com
1/16" = 1'-0"
10/28/2024 10:48:30 AM

Total Units - 57 (716 gsf average)
STUDIO (416 GSF) 4 (7%)
1 BR (572 GSF) 18 (32%)
2 BR (806 GSF) 20 (35%)
3 BR (1,092 GSF) 15 (26%)

Public Parking (at Grade): 26
Residents Parking (Level 2): 26 = 0.45 space/unit
23 Standard Spaces
3 Accessible Spaces (2ACC, 1 Van ACC)
1 Loading
NOTE: ALL PARKING (RESIDENT & PUBLIC) TO BE EV
INSTALLED/READY PER PAMC CAL GREEN TIER 2
REACH. (20% CHARGERS, 80% PLUG/OUTLETS)
L6
12 1
4 4
3 1
4 4
3 1
4 4
3 LOT COVERAGE: 18,246 SF / 19,236 SF = 95%
FAR: Floor Area (87,418 SF) / Lot Area (19,236 SF) = 4.54 6' - 0"20' - 0"10' - 0"8' - 6"24' - 0"8' - 6"10' - 0"24' - 0"1' - 6" 20' - 0" 40' - 0" 24' - 0" 22' - 0" 25' - 0" 20' - 0" 10' - 0" 7' - 0" 168' - 0"
BIKES
168' - 0"
STAIR
STAIR
112' - 6"
LOBBY
& MAIL
112' - 6"

PARKING FOR PUBLIC
(26 SPACES)
+/-10,110 GSF
MECH./ELEC.

PROPERTY

MANAGEMENT

OFFICES

TRANSFORMER
MECH.

SPEED RAMP
WASTE

VAN ACCACC

12.0%6.0%
24' - 0"
MECH./ELEC.STORAGE
PUBLIC

PARKING ENTRY

RESIDENT

PARKING ENTRY
3' - 0" 74' - 0" 30' - 0" 59' - 0" 2' - 0"
LYTTON AVE.

KIPLING ST.

ACC

PEDESTRIAN

EXIT FROM

PUBLIC GARAGE
1' - 6" 19' - 0" 71' - 0" 17' - 0" 4' - 0"

PEDESTRIAN

EXIT FROM
PUBLIC
GARAGE
2BR
STAIR
STAIR
WASTE
1' - 6" 53' - 0" 54' - 0" 4' - 0"
112' - 6"
3BR 3BR

LAUNDRY
MECH.
1 BR (L4-L7)
STUDIO (L4-L7)
LOBBY
KIPLING ST.

LYTTON AVE.

PARKING ENTRY

FOR RESIDENTS

PUBLIC GARAGE ENTRY
LEVEL 1
+0' - 0"
LEVEL 3
+20' - 0"
LEVEL 4
+30' - 0"
LEVEL 5
+40' - 0"
LEVEL 6
+50' - 0"
ROOF
+70' - 0"
LEVEL 2
+10' - 0"
50' - 0"
70' - 0"
LEVEL 7
+60' - 0"3' - 0"

LAUNDRY/LOUNGE

COMMUNITY ROOM

PODIUM COURTYARD
STAIR
STAIR
1' - 6" 107' - 0" 4' - 0"
112' - 6"
7' - 0"

SERVICE

COORDINATOR

OFFICES

PARKING FOR RESIDENTS
(26 SPACES)

VANACC ACC
OPEN
TO
BELOW

LOADING
20' - 0" 0" 34' - 0" 30' - 0" 67' - 0" 10' - 0"
1' - 6" 24' - 0" 10' - 0" 31' - 0" 0" 10' - 0" 30' - 0" 6' - 0" 94' - 0" 59' - 0"
2' - 0"

TEEN ROOM
3' - 0"

MOTORCYCLE

PARKING
6' - 0"
7' - 0"
2' - 0"

12.0% 6.0%

MAINTENANCE OFFICE &

RESIDENT STORAGE
24' - 0"
26'-0" MIN.

LOBBY
© 2019 PYATOK ARCHITECTURE & URBAN DESIGN

REVISION SCHEDULE
NO. ISSUE DATE
STAMP:

SHEET:

DRAWN BY:

CHECKED BY:

ISSUE DATE:

SCALE:

TITLE:

JOB NUMBER:

PRELIMINARY - Not for Construction -
1611 TELEGRAPH AVE.

SUITE 200
OAKLAND, CA 94612
T. 510.465.7010 | F. 510.465.8575
www.pyatok.com
1/16" = 1'-0"
10/28/2024 10:48:30 AM

Total Units - 57 (716 gsf average)
STUDIO (416 GSF) 4 (7%)
1 BR (572 GSF) 18 (32%)
2 BR (806 GSF) 20 (35%)
3 BR (1,092 GSF) 15 (26%)

Public Parking (at Grade): 26
Residents Parking (Level 2): 26 = 0.45 space/unit
23 Standard Spaces
3 Accessible Spaces (2ACC, 1 Van ACC)
1 Loading
NOTE: ALL PARKING (RESIDENT & PUBLIC) TO BE EV
INSTALLED/READY PER PAMC CAL GREEN TIER 2
REACH. (20% CHARGERS, 80% PLUG/OUTLETS)
L6
12 1
4 4
3 1
4 4
3 1
4 4
3 LOT COVERAGE: 18,246 SF / 19,236 SF = 95%
FAR: Floor Area (87,418 SF) / Lot Area (19,236 SF) = 4.54 6' - 0"20' - 0"10' - 0"8' - 6"24' - 0"8' - 6"10' - 0"24' - 0"1' - 6" 20' - 0" 40' - 0" 24' - 0" 22' - 0" 25' - 0" 20' - 0" 10' - 0" 7' - 0" 168' - 0"
BIKES
168' - 0"
STAIR
STAIR
112' - 6"
LOBBY
& MAIL
112' - 6"

PARKING FOR PUBLIC
(26 SPACES)
+/-10,110 GSF
MECH./ELEC.

PROPERTY

MANAGEMENT

OFFICES

TRANSFORMER
MECH.

SPEED RAMP
WASTE

VAN ACCACC

12.0%6.0%
24' - 0"
MECH./ELEC.STORAGE
PUBLIC

PARKING ENTRY

RESIDENT

PARKING ENTRY
3' - 0" 74' - 0" 30' - 0" 59' - 0" 2' - 0"
LYTTON AVE.

KIPLING ST.

ACC

PEDESTRIAN

EXIT FROM

PUBLIC GARAGE
1' - 6" 19' - 0" 71' - 0" 17' - 0" 4' - 0"

PEDESTRIAN

EXIT FROM
PUBLIC
GARAGE
2BR
STAIR
STAIR
WASTE
1' - 6" 53' - 0" 54' - 0" 4' - 0"
112' - 6"
3BR 3BR

LAUNDRY
MECH.
1 BR (L4-L7)
STUDIO (L4-L7)
LOBBY
KIPLING ST.

LYTTON AVE.

PARKING ENTRY

FOR RESIDENTS

PUBLIC GARAGE ENTRY
LEVEL 1
+0' - 0"
LEVEL 3
+20' - 0"
LEVEL 4
+30' - 0"
LEVEL 5
+40' - 0"
LEVEL 6
+50' - 0"
ROOF
+70' - 0"
LEVEL 2
+10' - 0"
50' - 0"
70' - 0"
LEVEL 7
+60' - 0"3' - 0"

LAUNDRY/LOUNGE

COMMUNITY ROOM

PODIUM COURTYARD
STAIR
STAIR
1' - 6" 107' - 0" 4' - 0"
112' - 6"
7' - 0"

SERVICE

COORDINATOR

OFFICES

PARKING FOR RESIDENTS
(26 SPACES)

VANACC ACC
OPEN
TO
BELOW

LOADING
20' - 0" 0" 34' - 0" 30' - 0" 67' - 0" 10' - 0"
1' - 6" 24' - 0" 10' - 0" 31' - 0" 0" 10' - 0" 30' - 0" 6' - 0" 94' - 0" 59' - 0"
2' - 0"

TEEN ROOM
3' - 0"

MOTORCYCLE

PARKING
6' - 0"
7' - 0"
2' - 0"

12.0% 6.0%

MAINTENANCE OFFICE &

RESIDENT STORAGE
24' - 0"
26'-0" MIN.

LOBBY
© 2019 PYATOK ARCHITECTURE & URBAN DESIGN

REVISION SCHEDULE
NO. ISSUE DATE
STAMP:

SHEET:

DRAWN BY:

CHECKED BY:

ISSUE DATE:

SCALE:

TITLE:

JOB NUMBER:

PRELIMINARY - Not for Construction -
1611 TELEGRAPH AVE.

SUITE 200
OAKLAND, CA 94612
T. 510.465.7010 | F. 510.465.8575
www.pyatok.com
1/16" = 1'-0"
10/28/2024 10:48:30 AM

Total Units - 57 (716 gsf average)
STUDIO (416 GSF) 4 (7%)
1 BR (572 GSF) 18 (32%)
2 BR (806 GSF) 20 (35%)
3 BR (1,092 GSF) 15 (26%)

Public Parking (at Grade): 26
Residents Parking (Level 2): 26 = 0.45 space/unit
23 Standard Spaces
3 Accessible Spaces (2ACC, 1 Van ACC)
1 Loading
NOTE: ALL PARKING (RESIDENT & PUBLIC) TO BE EV
INSTALLED/READY PER PAMC CAL GREEN TIER 2
REACH. (20% CHARGERS, 80% PLUG/OUTLETS)
L6
12 1
4 4
3 1
4 4
3 1
4 4
3 LOT COVERAGE: 18,246 SF / 19,236 SF = 95%
FAR: Floor Area (87,418 SF) / Lot Area (19,236 SF) = 4.54 Kipling Street (North)
3D Axon — Courtyard
3D Axon — Street
19 Lot T Refined Proposal | Alta Housing | 10.29.24

SCENARIO B

PARKING FOR RESIDENTS & REPLACEMENT OF

PUBLIC PARKING SPACES
20 Lot T Refined Proposal | Alta Housing | 10.29.24
Unit Mix Schedule

SCENARIO B

FINANCIAL PROFORMA
In Scenario B, we propose a unit mix that includes 15 Rapid Rehousing (RRH) units (25% of total) targeted towards the episodically homeless population. Additionally, we plan to assist 14 households at 30% AMI and 4 households at 50% AMI using Section 8 Project-Based Vouchers (PBVs).

Similar to Scenario A, Scenario B is best suited for financing through 4% LIHTCs. In addition to LIHTC equity, we are proposing financing from CA Housing & Community Development, the City of Palo Alto, Federal Home Loan Bank, and State Tax Credits. Our proposed unit mix aligns with the Santa Clara County Office of Supportive Housing’s Project Types, making it eligible for County/BAHFA funding if that source becomes available in the coming years.

This would allow us to potentially replace or supplement the other soft funding sources.

The estimated total development cost of Scenario B is $70.1 million.

UNIT
SIZE
NO.

UNITS % AMI
RRH
UNITS
FAMILY

PBV BASE RENT SUBSIDY INCOME
0 BR 4 30% 4 43,248 43,248
1 BR 7 30% 7 80,472 80,472
2 BR 9 30% 2 7 122,904 158,592 281,496
3 BR 9 30% 2 7 140,616 216,216 356,832
2 BR 2 50% 2 47,208 25,416 72,624
3 BR 2 50% 2 54,264 38,760 93,024
1 BR 11 60% 263,340 263,340
2 BR 8 60% 228,672 228,672
3 BR 4 60% 131,520 131,520
2 BR 1 Mgr Unit 0
TOTAL 57 43.8% 15 18 1,112,244 438,984 1,551,228
21 Lot T Refined Proposal | Alta Housing | 10.29.24
Permanent Sources of Financing
Construction Sources
Uses

SOURCE AMOUNT PER UNIT INTEREST TERM-YRS DCR
Permanent Loan 7,678,525 134,711 7.25% 35 1.15
CA HCD MHP 14,250,000 250,000 3% 55
City of Palo Alto 4,160,000 72,982 3% 55
FHLB AHP 570,000 10,000
Equity from LIHTC (Federal & State) 43,490,338 762,988
Total Sources 70,148,863 1,230,682

SOURCE AMOUNT PER UNIT INTEREST TERM-MOS
Tax Exempt Construction Loan 35,200,000 617,544 7.75% 32 Taxable Construction Loan 23,278,391 408,393 8.00% 32
City of Palo Alto 4,160,000 72,982 3% 32
FHLB AHP 570,000 10,000
Costs Deferred until Perm Closing 2,591,438 45,464
Equity from LIHTC 4,349,034 76,299
Total Sources 70,148,863 1,230,682

USE AMOUNT PER UNIT
Hard Costs 49,706,900 872,051
Design & Engineering 2,598,491 45,588
Development Impact & Permit Fees 1,615,801 28,347
Insurance During Construction 1,441,500 25,289
Developer Fee 2,500,000 43,860
Other Soft Costs 2,188,598 38,396
Financing Costs 10,097,573 177,150
Total Development Cost 70,148,863 1,230,682

SCENARIO B
22 Lot T Refined Proposal | Alta Housing | 10.29.24
YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10 YR 11 YR 12 YR 13 YR 14 YR 15 Gross Potential Income
Gross TCAC Rent 1,112,244 1,140,050 1,168,551 1,197,765 1,227,709 1,258,402 1,289,862 1,322,109 1,355,161 1,389,040 1,423,766 1,459,361 1,495,845 1,533,241 1,571,572 Section 8 Incremental Income 438,984 449,959 461,208 472,738 484,556 496,670 509,087 521,814 534,859 548,231 561,937 575,985 590,385 605,144 620,273 Miscellaneous Income 7,125 7,303 7,486 7,673 7,865 8,061 8,263 8,469 8,681 8,898 9,121 9,349 9,582 9,822 10,067 Less Vacancy/Loss - TCAC Rents (55,612) (57,003) (58,428) (59,888) (61,385) (62,920) (64,493) (66,105) (67,758) (69,452) (71,188) (72,968) (74,792) (76,662) (78,579) Less Vacancy/Loss - Sec 8 Incr (21,949) (22,498) (23,060) (23,637) (24,228) (24,834) (25,454) (26,091) (26,743) (27,412) (28,097) (28,799) (29,519) (30,257) (31,014) Effective Gross Income 1,480,792 1,517,811 1,555,757 1,594,651 1,634,517 1,675,380 1,717,264 1,760,196 1,804,201 1,849,306 1,895,538 1,942,927 1,991,500 2,041,288 2,092,320 Less Operating Expenses (684,000) (707,940) (732,718) (758,363) (784,906) (812,377) (840,811) (870,239) (900,697) (932,222) (964,850) (998,619) (1,033,571) (1,069,746) (1,107,187) Less Replacement Reserve (28,500) (28,500) (28,500) (28,500) (28,500) (28,500) (28,500) (28,500) (28,500) (28,500) (28,500) (28,500) (28,500) (28,500) (28,500) Less HCD Annual Fee 0.42% (59,850) (59,850) (59,850) (59,850) (59,850) (59,850) (59,850) (59,850) (59,850) (59,850) (59,850) (59,850) (59,850) (59,850) (59,850) Less City Annual Fee 125 (12,825) (12,825) (12,825) (12,825) (12,825) (12,825) (12,825) (12,825) (12,825) (12,825) (12,825) (12,825) (12,825) (12,825) (12,825) Net Operating Income 695,617 708,696 721,864 735,113 748,436 761,827 775,279 788,782 802,328 815,909 829,514 843,133 856,754 870,367 883,958 Less Debt Service (604,884) (604,884) (604,884) (604,884) (604,884) (604,884) (604,884) (604,884) (604,884) (604,884) (604,884) (604,884) (604,884) (604,884) (604,884) Less Issuer Fee 4,000 (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) (4,000) Net Cash Flow, First Cut 86,733 99,812 112,980 126,229 139,552 152,943 166,395 179,898 193,444 207,025 220,630 234,249 247,870 261,483 275,074 Debt Coverage Ratio 1.15 1.17 1.19 1.22 1.24 1.26 1.28 1.30 1.33 1.35 1.37 1.39 1.42 1.44 1.46 Less Ptrship Mgmt Fee - LP 7,500 (7,500) (7,725) (7,957) (8,195) (8,441) (8,695) (8,955) (9,224) (9,501) (9,786) (10,079) (10,382) (10,693) (11,014) (11,344) Less Ptrship Mgmt Fee - GP 19,500 (19,500) (20,085) (20,688) (21,308) (21,947) (22,606) (23,284) (23,983) (24,702) (25,443) (26,206) (26,993) (27,802) (28,636) (29,495) Net Cash Flow, 2nd Cut 59,733 72,002 84,335 96,725 109,163 121,643 134,155 146,691 159,242 171,796 184,344 196,874 209,375 221,832 234,234 Deferred Fee/Incentive Mgmt Fee 33% (19,891) (23,977) (28,084) (32,209) (36,351) (40,507) (44,674) (48,848) (53,027) (57,208) (61,387) (65,559) (69,722) (73,870) (78,000) Cash Distribution
CA HCD 14,250,000 78.1% (31,109) (37,499) (43,923) (50,375) (56,853) (63,353) (69,869) (76,398) (82,934) (89,473) (96,008) (102,534) (109,044) (115,532) (121,991) City 4,000,000 21.9% (8,732) (10,526) (12,329) (14,140) (15,959) (17,783) (19,612) (21,445) (23,280) (25,115) (26,950) (28,781) (30,609) (32,430) (34,243) 18,250,000 100.0%
Remaining Cash Flow (0) (0) (0) 0 (0) 0 0 (0) 0 (0) (0) 0 (0) 0 0 Cash Flow Analysis

SCENARIO B
23 Lot T Refined Proposal | Alta Housing | 10.29.24

SCENARIO B
EVALUATION OF SCENARIO & IMPACT OF ON-SITE + REPLACEMENT PARKING For Scenario B, our architectural team was tasked with determining two things: 1) how many parking spaces could fit within two levels of above-grade parking, and 2) how many residential units could fit in five stories above the parking in order to keep the building within the City’s height limit of two stories above the 50’ maximum. We limited the parking to two levels to maximize the number of spaces on each floor. This approach allowed us to incorporate separate entrances for each level, with a speed ramp to access the upper level parking. Adding additional levels would require an internal circulation ramp, which would reduce the number of spaces per floor to a point where it would no longer be worthwhile. To ensure an apples-to-apples comparison of the residential program across the different scenarios, the architect maintained a consistent proportional unit mix (25% 2-bedroom units and 25% 3-bedroom units) and kept unit sizes the same across all three scenarios. The Scenario B design accommodates 26 parking stalls on each level, for a total of 52 spaces – the number of spaces needed to replace the public parking spaces lost due to redevelopment – along with 57 residential units and a 5,900-square-foot podium courtyard.

The inclusion of an additional podium level and another floor of housing – necessitating a shift from Type V-A to the more expensive Type III-A construction – resulted in an increase in the per unit cost from $1.03 M to $1.23 M.

Given the assumption that the City will not be providing financial support for the parking, we treated the parking as a housing project cost and included it in eligible basis. Under IRS regulations, this strategy would be feasible only under specific conditions:
• Both levels of the garage are owned and maintained by the City of Palo Alto for general public use, but built as a part of the housing project as a condition of approval to replace existing public parking (i.e., offsite cost). The residents’ access would need to be the same as any other member of the public. Or, • The second level of the garage is owned by the housing development owner and reserved for the residents’ use. The first level of the garage is owned and maintained by the City, intended for general public use, and is included as a part of the housing project as a condition of approval to replace existing public parking. In this instance, we would be replacing 26 of the existing 52 public parking spaces. Although this isn’t a 1:1 replacement, we would be providing resident parking at a 0.46:1 ratio while also providing close to the number of spaces typically used by the public during peak times.

If we were to consider a shared parking arrangement, for example providing residents with exclusive use during evening hours, we could achieve this by removing the cost of the shared parking from eligible basis. To offset the resulting reduction in tax credit equity, we would need an additional funding source, such as a City contribution toward parking. Compared to Scenarios A and C, Scenario B presents the most challenges of the three proposed developments. In addition to assuming the maximum allocation of $250,000 per unit in CA HCD funding, we would be relying on a significant amount of state tax credits and/or an additional source of competitive funding to cover the higher construction cost. The elevated total development cost per unit could also affect the project’s competitiveness relative to other projects in an application cycle. Some of the risk could be mitigated by a city contribution greater than the requested $4M toward the affordable housing.

Also, this scenario would necessitate an air rights or condominium structure to allow the City to own and maintain one or two levels of public parking, and, of course, the City would need to be willing to assume ownership and maintenance responsibilities for its portion of the parking structure. 24 Lot T Refined Proposal | Alta Housing | 10.29.24

CITY CONTRIBUTION
Similar to Scenario A, we are 1) requesting a $4 million soft loan from the City of Palo Alto, to be made available during construction with interest that is accrued and deferred over the 24-month construction period; 2) requesting a ground lease at a nominal rate of $1 per year; and 3) planning to take advantage of the City’s development impact fee exemptions for affordable housing. These contributions from the City are considered “leveraged soft sources” and will be critical when we apply for tax credits since they increase the competitiveness of our application.

In addition to the soft source contributions, the City would need to own and maintain the public parking as described in the previous section.
25 Lot T Refined Proposal | Alta Housing | 10.29.24

PROJECT MILESTONE ESTIMATED DATE
City selects development partner December 2024
Negotiate & enter into ENA & DDA December 2025
Community engagement - Listening sessions January 2026
Community engagement - Presentation of concept March 2026 Due diligence (Phase I/II, Geotech, Arborist, Surveys, etc) Jan 2026 - Jun 2026 DESIGN
Conceptual Design February 2026
Schematic Design Mar 2026 - Jul 2026 | (4 mo)
Design Development Drawings Feb 2027 - Jul 2027 | (5 mo) Construction Drawings to 75% completion (permit set) Sep 2027 - Feb 2028 | (5 mo) Value engineering / 100% Construction Drawings February 2029

ENTITLEMENTS
Submit SB423/SB330 Notice of Intent to City of Palo Alto March 2026 Submit SB423 application August 2026
City issues determination whether the project meets the City’s objective standards Oct 2026 | (60 days)
City grants ministerial approval Nov 2026 | (90 days) Submit building permit application March 2028
Receive building permit ready letter Jan 2029 | (10 months)

FINANCING
Apply for City of Palo Alto funding October 2026
Apply for FHLB AHP funding March 2027
Apply for CA HCD funding April 2027
(award Fall 2027)
Apply for LIHTC/TEB August 2028
(award Dec 2028)
Close on construction financing April 2029

CONSTRUCTION
GC bids project Oct 2028 - Jan 2029 | (3 mo)
Enter into construction contract March 2029
Start construction April 2029
Complete construction Mar 2031 | (24 mo)

LEASE-UP/OCCUPANCY
Begin marketing March 2030
Begin lease-up process September 2030
100% occupancy Jun 2031 | (3 mo)

SCENARIO B

SCENARIO C
26 27
Lot T Refined Proposal | Alta Housing | 10.29.24
Scenario C is a charming four-story, wood-framed affordable family housing development that brings together a sense of community, practicality, and timeless architectural beauty. Located in this thriving downtown neighborhood, this development is designed to foster family life, all while adding warmth and vitality to the streetscape.

Upon arrival, residents and visitors are welcomed by a quaint trellis-covered entry porch on Lytton Street, complete with comfortable seating, perfect for relaxing or meeting neighbors. This feature sets the tone for Scenario C’s Victorian-inspired aesthetic, with its lap siding, durable cement plaster, and a pitched, shingled roof that gives the building a classic, home-like feel. The ground floor, with its glazed storefront, invites light and openness into the property management and service coordinator offices.

Inside the welcoming lobby, residents can access their mail and enjoy the conveniences of a modern community- focused development. At the heart of the development lies an at-grade courtyard, a peaceful green oasis that beckons families outdoors. Trees provide shade over landscape plantings while seating areas offer a tranquil retreat. Children ages 2-12 can explore the children’s play area, while teens have their own dedicated space facing Kipling Street – a teen room designed just for them to unwind and socialize in privacy.

The ground floor also features a bike room and maintenance office facing Lytton Street, encouraging eco-friendly transportation. The mix of studio, one-, two-, and three-bedroom apartments cater to families of all sizes, with some homes thoughtfully located on the ground floor for added convenience.

The surrounding sidewalks are enhanced with landscaping, creating a pedestrian-friendly environment that integrates the building into the neighborhood seamlessly. Whether it’s the beauty of the architecture, the inviting courtyard, or the community spaces that bring people together, Scenario C stands as a family-centric development where charm and community meet modern living.

SCENARIO C

NO ON-SITE PARKING FOR RESIDENTS OR THE PUBLIC
Conceptual rendering for illustrative purposes only.
28 Lot T Refined Proposal | Alta Housing | 10.29.24
Project Data
Building Height: 50 ft.
• 43 ft. to roof structure, plus sloped roof,
Stair / Elevator Penthouses to 53 ft. max.

Construction Type: Four (4) stories wood framing
Gross Building Area: 54,908 gsf
Gross Leasable Area: 36,914 gsf (residential units only) Number of Residential Units by Type/Size:
• 20 (42%) 1 BR 1 BA (572 average, 450 sf min per TCAC) • 14 (30%) 2 BR 1 BA (806 average, 700 sf min per TCAC) • 13 (28%) 3 BR 2 BA (1,092 average, 900 sf min per TCAC) • 47 (100%) total units (716 average)
On-Site Parking: None
On-Site Services: Resident services coordination for all households and case management services for households
in Rapid Rehousing units.

Amenities:
• Property Management offices and Resident Lobby
with Mail, Teen Room (+/- 572 gsf) for youth aged 13-17, Service Coordinator offices, maintenance office, and
storage all on ground floor
• Bike Storage on ground floor, facing Lytton
• Community Room w/ Laundry on ground floor
(+/- 1,325 gsf) with shared kitchen, seating areas, tables, computer area, and table and chair storage. Laundry to
have two sets of washers and dryers
• Laundry / Lounges on upper floors (+/- 250 gsf each) at least 1 set of washer / dryer with folding area and seating • At-grade courtyard will include trees, landscape planting, seating areas, and children’s play area for ages 2-12
(600 sf min)
Target Population: Large family project with 25% of units set aside for homeless individuals and households
Affordability: Twenty-four (24) units will be for households extremely low-income households (<30% AMI). Two (2) units will be for households earning 50% AMI. The remaining
20 affordable units will be for households earning 60% AMI.

SCENARIO C

NO ON-SITE PARKING FOR RESIDENTS OR THE PUBLIC
Conceptual rendering for illustrative purposes only.
26' - 0"28' - 0"25' - 0"10' - 0"
42' - 0" 42' - 0" 22' - 0" 18' - 0" 27' - 0" 10' - 0" 7' - 0" 168' - 0"

SERVICE / BOH

SERVICE / BOH
BIKE
ROOM

COMMUNITY ROOM/LAUNDRY
STAIR
STAIR
1' - 6"
31' - 0"
3' - 0"
1' - 6" 22' - 0"
26' - 0" 6' - 0" 26' - 0" 58' - 0" 42' - 0"
10' - 6" 70' - 0" 6' - 0" 20' - 0" 6' - 0"
111' - 0"
MECH.

OFFICES WASTE

LOBBY /
MAIL
1BR2BR
2BR
10' - 0"

AT GRADE COURTYARD
+/-3,500 GSF Usable Area
Landscape planting areas, seating
areas, children's play space
3BR

MAINTENANCE
ROOM
1BR
15' - 0" 53' - 0"
19' - 0"

TEEN ROOMOFFICE
LYTTON AVE.

KIPLING ST.

FENCE AT PERIMETER

INTERIOR PROPERTY LINES

GATE FOR

COURTYARD EGRESS
3BR 1BR
1BR 2BR
3BR 3BR
2BR
1BR
2BR 1BR

LAUNDRY/
LOUNGE
STAIR
STAIR
WASTE
168' - 0"
26' - 0" 6' - 0" 26' - 0" 58' - 0" 42' - 0" 10' - 0"
10' - 6" 70' - 0" 6' - 0" 20' - 0" 6' - 0"
151' - 0" 10' - 0" 7' - 0"
26' - 0"31' - 0"22' - 0"10' - 0"22' - 0"1' - 6"
111' - 0"
MECH.
1BR
3BR
42' - 0" 42' - 0" 22' - 0" 45' - 0"
2BR
1BR
18' - 0"
15' - 0"
KIPLING ST.

LYTTON AVE.

LEVEL 1
+0' - 0"
LEVEL 3
+23' - 0"
LEVEL 4
+33' - 0"
ROOF
+43' - 0"
T.O. PARAPET
+50' - 0"
LEVEL 2
+13' - 0"
43' - 0" 7' - 0"
LEVEL 1
+0' - 0"
LEVEL 3
+23' - 0"
LEVEL 4
+33' - 0"
ROOF
+43' - 0"
T.O. PARAPET
+50' - 0"
LEVEL 2
+13' - 0"
LYTTON AVE.

KIPLING STREET
© 2019 PYATOK ARCHITECTURE & URBAN DESIGN

REVISION SCHEDULE
NO. ISSUE DATE
STAMP:

SHEET:

DRAWN BY:

CHECKED BY:

ISSUE DATE:

SCALE:

TITLE:

JOB NUMBER:

PRELIMINARY - Not for Construction -
1611 TELEGRAPH AVE.

SUITE 200
OAKLAND, CA 94612
T. 510.465.7010 | F. 510.465.8575
www.pyatok.com
1/16" = 1'-0"
10/28/2024 10:55:18 AM

SCENARIO C
Alta Housing
0000
Author
Checker
xx/xx/xxxx
Parcel T Site Study
T0.01
450 Lytton Ave. (Parcel T)
Palo Alto, CA 94301
Sobrato Center for
NonProfits
Palo Alto, CA
UNIT MIX:

Total Units - 47 (734 gsf average)
1 BR (572 GSF) 20 (42%)
2 BR (806 GSF) 14 (30%)
3 BR (1,092 GSF) 13 (28%)
Parcel T
450 Lytton Avenue
APN: 120-15-100
Site Area: 19,236 sf
Open Space (Courtyard): 3,900 GSF
(83 sf/unit)
1BR
2BR
3BR
2 2
1 6
4 4
20 14
13 L2 L3 L4L1 Total
5 14 14 14 47
6 4
4 6
4 4
LOT COVERAGE: 13,217 SF / 19,236 SF = 69%
FAR: Floor Area (52,580 SF) / Lot Area (19,236 SF) = 2.8

GROSS BUILDING AREA (GSF) - BY FLOOR
Name Floor Area
LEVEL 1
Amenity 5,052 SF
Circulation - Horiz. 1,960 SF
Circulation - Vertical 600 SF
Residential 3,848 SF
Service 1,607 SF
13,067 SF
LEVEL 2
Amenity 255 SF
Circulation - Horiz. 1,652 SF
Circulation - Vertical 600 SF
Residential 11,022 SF
Service 218 SF
13,747 SF
LEVEL 3
Amenity 255 SF
Circulation - Horiz. 1,652 SF
Circulation - Vertical 600 SF
Residential 11,022 SF
Service 218 SF
13,747 SF
LEVEL 4
Amenity 255 SF
Circulation - Horiz. 1,652 SF
Circulation - Vertical 600 SF
Residential 11,022 SF
Service 218 SF
13,747 SF
ROOF
Circulation - Vertical 600 SF
600 SF
Total Building Area: 54,908 SF
Lytton Avenue (West)
Upper Levels (2-4)
26' - 0"28' - 0"25' - 0"10' - 0"
42' - 0" 42' - 0" 22' - 0" 18' - 0" 27' - 0" 10' - 0" 7' - 0" 168' - 0"

SERVICE / BOH

SERVICE / BOH
BIKE
ROOM

COMMUNITY ROOM/LAUNDRY
STAIR
STAIR
1' - 6"
31' - 0"
3' - 0"
1' - 6" 22' - 0"
26' - 0" 6' - 0" 26' - 0" 58' - 0" 42' - 0"
10' - 6" 70' - 0" 6' - 0" 20' - 0" 6' - 0"
111' - 0"
MECH.

OFFICES WASTE

LOBBY /
MAIL
1BR2BR
2BR
10' - 0"

AT GRADE COURTYARD
+/-3,500 GSF Usable Area
Landscape planting areas, seating
areas, children's play space
3BR

MAINTENANCE
ROOM
1BR
15' - 0" 53' - 0"
19' - 0"

TEEN ROOMOFFICE
LYTTON AVE.

KIPLING ST.

FENCE AT PERIMETER

INTERIOR PROPERTY LINES

GATE FOR

COURTYARD EGRESS
3BR 1BR
1BR 2BR
3BR 3BR
2BR
1BR
2BR 1BR

LYTTON AVE.

KIPLING STREET
© 2019 PYATOK ARCHITECTURE & URBAN DESIGN

REVISION SCHEDULE
NO. ISSUE DATE
STAMP:

SHEET:

DRAWN BY:

CHECKED BY:

ISSUE DATE:

SCALE:

TITLE:

JOB NUMBER:

PRELIMINARY - Not for Construction -
1611 TELEGRAPH AVE.

SUITE 200
OAKLAND, CA 94612
T. 510.465.7010 | F. 510.465.8575
www.pyatok.com
1/16" = 1'-0"
10/28/2024 10:55:18 AM

SCENARIO C
Alta Housing
0000
Author
Checker
xx/xx/xxxx
Parcel T Site Study
T0.01
450 Lytton Ave. (Parcel T)
Palo Alto, CA 94301
Sobrato Center for
NonProfits
Palo Alto, CA
UNIT MIX:

GROSS BUILDING AREA (GSF) - BY FLOOR
Name Floor Area
LEVEL 1
Amenity 5,052 SF
Circulation - Horiz. 1,960 SF
Circulation - Vertical 600 SF
Residential 3,848 SF
Service 1,607 SF
13,067 SF
LEVEL 2
Amenity 255 SF
Circulation - Horiz. 1,652 SF
Circulation - Vertical 600 SF
Residential 11,022 SF
Service 218 SF
13,747 SF
LEVEL 3
Amenity 255 SF
Circulation - Horiz. 1,652 SF
Circulation - Vertical 600 SF
Residential 11,022 SF
Service 218 SF
13,747 SF
LEVEL 4
Amenity 255 SF
Circulation - Horiz. 1,652 SF
Circulation - Vertical 600 SF
Residential 11,022 SF
Service 218 SF
13,747 SF
ROOF
Circulation - Vertical 600 SF
600 SF
Total Building Area: 54,908 SF
26' - 0"28' - 0"25' - 0"10' - 0"
42' - 0" 42' - 0" 22' - 0" 18' - 0" 27' - 0" 10' - 0" 7' - 0" 168' - 0"

SERVICE / BOH

SERVICE / BOH
BIKE
ROOM

COMMUNITY ROOM/LAUNDRY
STAIR
STAIR
1' - 6"
31' - 0"
3' - 0"
1' - 6" 22' - 0"
26' - 0" 6' - 0" 26' - 0" 58' - 0" 42' - 0"
10' - 6" 70' - 0" 6' - 0" 20' - 0" 6' - 0"
111' - 0"
MECH.

OFFICES WASTE

LOBBY /
MAIL
1BR2BR
2BR
10' - 0"

AT GRADE COURTYARD
+/-3,500 GSF Usable Area
Landscape planting areas, seating
areas, children's play space
3BR

MAINTENANCE
ROOM
1BR
15' - 0" 53' - 0"
19' - 0"

TEEN ROOMOFFICE
LYTTON AVE.

KIPLING ST.

FENCE AT PERIMETER

INTERIOR PROPERTY LINES

GATE FOR

COURTYARD EGRESS
3BR 1BR
1BR 2BR
3BR 3BR
2BR
1BR
2BR 1BR

LYTTON AVE.

KIPLING STREET
© 2019 PYATOK ARCHITECTURE & URBAN DESIGN

REVISION SCHEDULE
NO. ISSUE DATE
STAMP:

SHEET:

DRAWN BY:

CHECKED BY:

ISSUE DATE:

SCALE:

TITLE:

JOB NUMBER:

PRELIMINARY - Not for Construction -
1611 TELEGRAPH AVE.

SUITE 200
OAKLAND, CA 94612
T. 510.465.7010 | F. 510.465.8575
www.pyatok.com
1/16" = 1'-0"
10/28/2024 10:55:18 AM

SCENARIO C
Alta Housing
0000
Author
Checker
xx/xx/xxxx
Parcel T Site Study
T0.01
450 Lytton Ave. (Parcel T)
Palo Alto, CA 94301
Sobrato Center for
NonProfits
Palo Alto, CA
UNIT MIX:

GROSS BUILDING AREA (GSF) - BY FLOOR
Name Floor Area
LEVEL 1
Amenity 5,052 SF
Circulation - Horiz. 1,960 SF
Circulation - Vertical 600 SF
Residential 3,848 SF
Service 1,607 SF
13,067 SF
LEVEL 2
Amenity 255 SF
Circulation - Horiz. 1,652 SF
Circulation - Vertical 600 SF
Residential 11,022 SF
Service 218 SF
13,747 SF
LEVEL 3
Amenity 255 SF
Circulation - Horiz. 1,652 SF
Circulation - Vertical 600 SF
Residential 11,022 SF
Service 218 SF
13,747 SF
LEVEL 4
Amenity 255 SF
Circulation - Horiz. 1,652 SF
Circulation - Vertical 600 SF
Residential 11,022 SF
Service 218 SF
13,747 SF
ROOF
Circulation - Vertical 600 SF
600 SF
Total Building Area: 54,908 SF
26' - 0"28' - 0"25' - 0"10' - 0"
42' - 0" 42' - 0" 22' - 0" 18' - 0" 27' - 0" 10' - 0" 7' - 0" 168' - 0"

SERVICE / BOH

SERVICE / BOH
BIKE
ROOM

COMMUNITY ROOM/LAUNDRY
STAIR
STAIR
1' - 6"
31' - 0"
3' - 0"
1' - 6" 22' - 0"
26' - 0" 6' - 0" 26' - 0" 58' - 0" 42' - 0"
10' - 6" 70' - 0" 6' - 0" 20' - 0" 6' - 0"
111' - 0"
MECH.

OFFICES WASTE

LOBBY /
MAIL
1BR2BR
2BR
10' - 0"

AT GRADE COURTYARD
+/-3,500 GSF Usable Area
Landscape planting areas, seating
areas, children's play space
3BR

MAINTENANCE
ROOM
1BR
15' - 0" 53' - 0"
19' - 0"

TEEN ROOMOFFICE
LYTTON AVE.

KIPLING ST.

FENCE AT PERIMETER

INTERIOR PROPERTY LINES

GATE FOR

COURTYARD EGRESS
3BR 1BR
1BR 2BR
3BR 3BR
2BR
1BR
2BR 1BR

LYTTON AVE.

REVISION SCHEDULE
NO. ISSUE DATE
STAMP:

SHEET:

DRAWN BY:

CHECKED BY:

ISSUE DATE:

SCALE:

TITLE:

JOB NUMBER:

PRELIMINARY - Not for Construction -
1611 TELEGRAPH AVE.

SUITE 200
OAKLAND, CA 94612
T. 510.465.7010 | F. 510.465.8575
www.pyatok.com
1/16" = 1'-0"
10/28/2024 10:55:18 AM

SCENARIO C
Alta Housing
0000
Author
Checker
xx/xx/xxxx
Parcel T Site Study
T0.01
450 Lytton Ave. (Parcel T)
Palo Alto, CA 94301
Sobrato Center for
NonProfits
Palo Alto, CA
UNIT MIX:

GROSS BUILDING AREA (GSF) - BY FLOOR
Name Floor Area
LEVEL 1
Amenity 5,052 SF
Circulation - Horiz. 1,960 SF
Circulation - Vertical 600 SF
Residential 3,848 SF
Service 1,607 SF
13,067 SF
LEVEL 2
Amenity 255 SF
Circulation - Horiz. 1,652 SF
Circulation - Vertical 600 SF
Residential 11,022 SF
Service 218 SF
13,747 SF
LEVEL 3
Amenity 255 SF
Circulation - Horiz. 1,652 SF
Circulation - Vertical 600 SF
Residential 11,022 SF
Service 218 SF
13,747 SF
LEVEL 4
Amenity 255 SF
Circulation - Horiz. 1,652 SF
Circulation - Vertical 600 SF
Residential 11,022 SF
Service 218 SF
13,747 SF
ROOF
Circulation - Vertical 600 SF
600 SF
Total Building Area: 54,908 SF
Kipling Street (North)
3D Axon — Courtyard
3D Axon — Street
26' - 0"28' - 0"25' - 0"10' - 0"
42' - 0" 42' - 0" 22' - 0" 18' - 0" 27' - 0" 10' - 0" 7' - 0" 168' - 0"

SERVICE / BOH

SERVICE / BOH
BIKE
ROOM

COMMUNITY ROOM/LAUNDRY
STAIR
STAIR
1' - 6"
31' - 0"
3' - 0"
1' - 6" 22' - 0"
26' - 0" 6' - 0" 26' - 0" 58' - 0" 42' - 0"
10' - 6" 70' - 0" 6' - 0" 20' - 0" 6' - 0"
111' - 0"
MECH.

OFFICES WASTE

LOBBY /
MAIL
1BR2BR
2BR
10' - 0"

AT GRADE COURTYARD
+/-3,500 GSF Usable Area
Landscape planting areas, seating
areas, children's play space
3BR

MAINTENANCE
ROOM
1BR
15' - 0" 53' - 0"
19' - 0"

TEEN ROOMOFFICE
LYTTON AVE.

KIPLING ST.

FENCE AT PERIMETER

INTERIOR PROPERTY LINES

GATE FOR

COURTYARD EGRESS
3BR 1BR
1BR 2BR
3BR 3BR
2BR
1BR
2BR 1BR

LYTTON AVE.

REVISION SCHEDULE
NO. ISSUE DATE
STAMP:

SHEET:

DRAWN BY:

CHECKED BY:

ISSUE DATE:

SCALE:

TITLE:

JOB NUMBER:

PRELIMINARY - Not for Construction -
1611 TELEGRAPH AVE.

SUITE 200
OAKLAND, CA 94612
T. 510.465.7010 | F. 510.465.8575
www.pyatok.com
1/16" = 1'-0"
10/28/2024 10:55:18 AM

SCENARIO C
Alta Housing
0000
Author
Checker
xx/xx/xxxx
Parcel T Site Study
T0.01
450 Lytton Ave. (Parcel T)
Palo Alto, CA 94301
Sobrato Center for
NonProfits
Palo Alto, CA
UNIT MIX:

GROSS BUILDING AREA (GSF) - BY FLOOR
Name Floor Area
LEVEL 1
Amenity 5,052 SF
Circulation - Horiz. 1,960 SF
Circulation - Vertical 600 SF
Residential 3,848 SF
Service 1,607 SF
13,067 SF
LEVEL 2
Amenity 255 SF
Circulation - Horiz. 1,652 SF
Circulation - Vertical 600 SF
Residential 11,022 SF
Service 218 SF
13,747 SF
LEVEL 3
Amenity 255 SF
Circulation - Horiz. 1,652 SF
Circulation - Vertical 600 SF
Residential 11,022 SF
Service 218 SF
13,747 SF
LEVEL 4
Amenity 255 SF
Circulation - Horiz. 1,652 SF
Circulation - Vertical 600 SF
Residential 11,022 SF
Service 218 SF
13,747 SF
ROOF
Circulation - Vertical 600 SF
600 SF
Total Building Area: 54,908 SF
26' - 0"28' - 0"25' - 0"10' - 0"
42' - 0" 42' - 0" 22' - 0" 18' - 0" 27' - 0" 10' - 0" 7' - 0" 168' - 0"

SERVICE / BOH

SERVICE / BOH
BIKE
ROOM

COMMUNITY ROOM/LAUNDRY
STAIR
STAIR
1' - 6"
31' - 0"
3' - 0"
1' - 6" 22' - 0"
26' - 0" 6' - 0" 26' - 0" 58' - 0" 42' - 0"
10' - 6" 70' - 0" 6' - 0" 20' - 0" 6' - 0"
111' - 0"
MECH.

OFFICES WASTE

LOBBY /
MAIL
1BR2BR
2BR
10' - 0"

AT GRADE COURTYARD
+/-3,500 GSF Usable Area
Landscape planting areas, seating
areas, children's play space
3BR

MAINTENANCE
ROOM
1BR
15' - 0" 53' - 0"
19' - 0"

TEEN ROOMOFFICE
LYTTON AVE.

KIPLING ST.

FENCE AT PERIMETER

INTERIOR PROPERTY LINES

GATE FOR

COURTYARD EGRESS
3BR 1BR
1BR 2BR
3BR 3BR
2BR
1BR
2BR 1BR

LYTTON AVE.

REVISION SCHEDULE
NO. ISSUE DATE
STAMP:

SHEET:

DRAWN BY:

CHECKED BY:

ISSUE DATE:

SCALE:

TITLE:

JOB NUMBER:

PRELIMINARY - Not for Construction -
1611 TELEGRAPH AVE.

SUITE 200
OAKLAND, CA 94612
T. 510.465.7010 | F. 510.465.8575
www.pyatok.com
1/16" = 1'-0"
10/28/2024 10:55:18 AM

SCENARIO C
Alta Housing
0000
Author
Checker
xx/xx/xxxx
Parcel T Site Study
T0.01
450 Lytton Ave. (Parcel T)
Palo Alto, CA 94301
Sobrato Center for
NonProfits
Palo Alto, CA
UNIT MIX:

GROSS BUILDING AREA (GSF) - BY FLOOR
Name Floor Area
LEVEL 1
Amenity 5,052 SF
Circulation - Horiz. 1,960 SF
Circulation - Vertical 600 SF
Residential 3,848 SF
Service 1,607 SF
13,067 SF
LEVEL 2
Amenity 255 SF
Circulation - Horiz. 1,652 SF
Circulation - Vertical 600 SF
Residential 11,022 SF
Service 218 SF
13,747 SF
LEVEL 3
Amenity 255 SF
Circulation - Horiz. 1,652 SF
Circulation - Vertical 600 SF
Residential 11,022 SF
Service 218 SF
13,747 SF
LEVEL 4
Amenity 255 SF
Circulation - Horiz. 1,652 SF
Circulation - Vertical 600 SF
Residential 11,022 SF
Service 218 SF
13,747 SF
ROOF
Circulation - Vertical 600 SF
600 SF
Total Building Area: 54,908 SF
Ground Floor (1)
UP
UP
6' - 0"30' - 0"21' - 0"10' - 0"22' - 0"22' - 0"1' - 6"
26' - 0" 39' - 0" 19' - 0" 22' - 0" 23' - 0" 22' - 0" 10' - 0" 7' - 0" 168' - 0"
WASTE

COLLECTION
BIKES
STAIR
STAIR
4' - 0"
1' - 6"
62' - 0" 23' - 0" 21' - 0" 5' - 0"
112' - 6"
BOH

LOBBY & MAIL

PARKING
(27 SPACES)
+/-9,700 GSF
MECH./ELEC.
24' - 0"

VAN ACC
167' - 0" 1' - 0"

OFFICES TRANSFORMER
MECH.

MAINTENANCE
ROOM & MAINT. OFFICE
ACC

SERVICE

TEEN ROOM

STORAGE
3' - 0"
LYTTON AVE.

KIPLING ST.

MECH.

CORR.

LANDSCAPING
AREAS
2BR2BR
3BR
2BR

LYTTON AVE.

LEVEL 1
+0' - 0"
LEVEL 3
+25' - 0"
LEVEL 4
+35' - 0"
LEVEL 5
+45' - 0"
ROOF
+55' - 0"
T.O. PARAPET
+60' - 0"
LEVEL 2
+13' - 0"
13' - 0" 42' - 0"
55' - 0"
2BR
2BR
3BR

REVISION SCHEDULE
NO. ISSUE DATE
STAMP:

SHEET:

DRAWN BY:

CHECKED BY:

ISSUE DATE:

SCALE:

TITLE:

JOB NUMBER:

PRELIMINARY - Not for Construction -
1611 TELEGRAPH AVE.

SUITE 200
OAKLAND, CA 94612
T. 510.465.7010 | F. 510.465.8575
www.pyatok.com
1/16" = 1'-0"
10/28/2024 10:39:45 AM

Total Units - 54 (790 gsf average)
1 BR (572 GSF) 23 (42%)
2 BR (806 GSF) 15 (28%)
3 BR (1,092 GSF) 16 (30%)

Total Spaces: 27 (all EV installed or ready) = 0.5 space/unit 24 Standard Spaces
3 Accessible Spaces (2ACC, 1 Van ACC)
LOT COVERAGE: 18,379 SF / 19,236 SF = 95%
FAR: Floor Area (70,189 SF) / Lot Area (19,236 SF) = 3.65 UP
UP
6' - 0"30' - 0"21' - 0"10' - 0"22' - 0"22' - 0"1' - 6"
26' - 0" 39' - 0" 19' - 0" 22' - 0" 23' - 0" 22' - 0" 10' - 0" 7' - 0" 168' - 0"
WASTE

COLLECTION
BIKES
STAIR
STAIR
4' - 0"
1' - 6"
62' - 0" 23' - 0" 21' - 0" 5' - 0"
112' - 6"
BOH

LOBBY & MAIL

PARKING
(27 SPACES)
+/-9,700 GSF
MECH./ELEC.
24' - 0"

VAN ACC
167' - 0" 1' - 0"

OFFICES TRANSFORMER
MECH.

MAINTENANCE
ROOM & MAINT. OFFICE
ACC

SERVICE

TEEN ROOM

STORAGE
3' - 0"
LYTTON AVE.

KIPLING ST.

MECH.

CORR.

LANDSCAPING
AREAS
2BR2BR
3BR
2BR

LYTTON AVE.

LEVEL 1
+0' - 0"
LEVEL 3
+25' - 0"
LEVEL 4
+35' - 0"
LEVEL 5
+45' - 0"
ROOF
+55' - 0"
T.O. PARAPET
+60' - 0"
LEVEL 2
+13' - 0"
13' - 0" 42' - 0"
55' - 0"
2BR
2BR
3BR

REVISION SCHEDULE
NO. ISSUE DATE
STAMP:

SHEET:

DRAWN BY:

CHECKED BY:

ISSUE DATE:

SCALE:

TITLE:

JOB NUMBER:

PRELIMINARY - Not for Construction -
1611 TELEGRAPH AVE.

SUITE 200
OAKLAND, CA 94612
T. 510.465.7010 | F. 510.465.8575
www.pyatok.com
1/16" = 1'-0"
10/28/2024 10:39:45 AM

Total Units - 54 (790 gsf average)
1 BR (572 GSF) 23 (42%)
2 BR (806 GSF) 15 (28%)
3 BR (1,092 GSF) 16 (30%)

SCENARIO C

NO ON-SITE PARKING FOR RESIDENTS OR THE PUBLIC
30 Lot T Refined Proposal | Alta Housing | 10.29.24

SCENARIO C

FINANCIAL PROFORMA
In Scenario C, we propose a unit mix that includes 12 Rapid Rehousing (RRH) units (25% of total) targeted towards the episodically homeless population. Additionally, we plan to assist 12 households at 30% AMI and 2 households at 50% AMI using Section 8 Project-Based Vouchers (PBVs).

Due to the $2,500,000 annual tax credit cap for 9% LIHTC projects, the 9% LIHTCs are best suited to smaller projects. The key advantage of 9% LIHTCs is the higher proportion of LIHTC equity relative to the total development cost, along with lower financing costs since bond financing expenses are not required. At 47 units, Scenario C is a good candidate for financing through 9% LIHTC. In addition to LIHTC equity, we are proposing financing from CA Housing & Community Development and the City of Palo Alto. Our proposed unit mix aligns with the Santa Clara County Office of Supportive Housing’s Project Types, making it eligible for County/BAHFA funding if that source becomes available in the coming years. This would allow us to potentially replace or supplement the other soft funding sources.

The estimated total development cost of Scenario C is $46.0 million.

Unit Mix Schedule
UNIT
SIZE
NO.

UNITS % AMI
RRH
UNITS
FAMILY

PBV BASE RENT SUBSIDY INCOME
1 BR 8 30% 8 91,968 91,968
2 BR 8 30% 2 6 109,248 135,936 245,184
3 BR 8 30% 2 6 124,992 185,328 310,320
3 BR 2 50% 2 54,264 38,760 93,024
1 BR 12 60% 287,280 287,280
2 BR 5 60% 142,920 142,920
3 BR 3 60% 98,640 98,640
2 BR 1 Mgr Unit 0
TOTAL 47 43.9% 12 14 909,312 360,024 1,269,336
31 Lot T Refined Proposal | Alta Housing | 10.29.24

SCENARIO C
Permanent Sources of Financing
Construction Sources
Uses

SOURCE AMOUNT PER UNIT INTEREST TERM-YRS DCR
Permanent Loan 6,245,070 132,874 7.25% 35 1.15
CA HCD MHP 11,407,821 242,720 3% 55
City of Palo Alto 4,120,000 87,660 3% 55
Equity from LIHTC (Federal) 24,249,998 515,957
Total Sources 46,022,889 979,210

SOURCE AMOUNT PER UNIT INTEREST TERM-MOS
Taxable Construction Loan 36,968,824 786,571 8.00% 24
City of Palo Alto 4,120,000 87,660 3% 24
Costs Deferred until Perm Closing 2,508,976 53,382
Equity from LIHTC 2,425,089 51,598
Total Sources 46,022,889 979,210

USE AMOUNT PER UNIT
Hard Costs 32,956,074 701,193
Design & Engineering 1,811,257 38,537
Development Impact & Permit Fees 861,438 18,328
Insurance During Construction 1,087,550 23,139
Developer Fee 2,500,000 53,191
Other Soft Costs 1,866,653 39,716
Financing Costs 4,939,917 105,105
Total Development Cost 46,022,889 979,210
32 Lot T Refined Proposal | Alta Housing | 10.29.24
Cash Flow Analysis

SCENARIO C
YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10 YR 11 YR 12 YR 13 YR 14 YR 15 Gross Potential Income
Gross TCAC Rent 909,312 932,045 955,346 979,230 1,003,710 1,028,803 1,054,523 1,080,886 1,107,908 1,135,606 1,163,996 1,193,096 1,222,924 1,253,497 1,284,834 Section 8 Incremental Income 360,024 369,025 378,250 387,706 397,399 407,334 417,517 427,955 438,654 449,621 460,861 472,383 484,192 496,297 508,704 Miscellaneous Income 5,875 6,022 6,172 6,327 6,485 6,647 6,813 6,984 7,158 7,337 7,520 7,709 7,901 8,099 8,301 Less Vacancy/Loss - TCAC Rents (45,466) (46,602) (47,767) (48,961) (50,186) (51,440) (52,726) (54,044) (55,395) (56,780) (58,200) (59,655) (61,146) (62,675) (64,242) Less Vacancy/Loss - Sec 8 Incr (18,001) (18,451) (18,913) (19,385) (19,870) (20,367) (20,876) (21,398) (21,933) (22,481) (23,043) (23,619) (24,210) (24,815) (25,435) Effective Gross Income 1,211,744 1,242,038 1,273,089 1,304,916 1,337,539 1,370,977 1,405,252 1,440,383 1,476,393 1,513,302 1,551,135 1,589,913 1,629,661 1,670,403 1,712,163 Less Operating Expenses (564,000) (583,740) (604,171) (625,317) (647,203) (669,855) (693,300) (717,566) (742,680) (768,674) (795,578) (823,423) (852,243) (882,071) (912,944) Less Replacement Reserve (23,500) (23,500) (23,500) (23,500) (23,500) (23,500) (23,500) (23,500) (23,500) (23,500) (23,500) (23,500) (23,500) (23,500) (23,500) Less HCD Annual Fee 0.42% (47,913) (47,913) (47,913) (47,913) (47,913) (47,913) (47,913) (47,913) (47,913) (47,913) (47,913) (47,913) (47,913) (47,913) (47,913) Less City Annual Fee 125 (10,575) (10,575) (10,575) (10,575) (10,575) (10,575) (10,575) (10,575) (10,575) (10,575) (10,575) (10,575) (10,575) (10,575) (10,575) Net Operating Income 565,756 576,310 586,930 597,611 608,348 619,134 629,964 640,830 651,724 662,641 673,569 684,503 695,431 706,344 717,231 Less Debt Service (491,962) (491,962) (491,962) (491,962) (491,962) (491,962) (491,962) (491,962) (491,962) (491,962) (491,962) (491,962) (491,962) (491,962) (491,962) Net Cash Flow, First Cut 73,794 84,348 94,968 105,649 116,386 127,172 138,002 148,868 159,762 170,678 181,607 192,541 203,469 214,382 225,269 Debt Coverage Ratio 1.15 1.17 1.19 1.21 1.24 1.26 1.28 1.30 1.32 1.35 1.37 1.39 1.41 1.44 1.46 Less Ptrship Mgmt Fee - LP 7,500 (7,500) (7,725) (7,957) (8,195) (8,441) (8,695) (8,955) (9,224) (9,501) (9,786) (10,079) (10,382) (10,693) (11,014) (11,344) Less Ptrship Mgmt Fee - GP 19,500 (19,500) (20,085) (20,688) (21,308) (21,947) (22,606) (23,284) (23,983) (24,702) (25,443) (26,206) (26,993) (27,802) (28,636) (29,495) Net Cash Flow, 2nd Cut 46,794 56,538 66,324 76,146 85,997 95,872 105,762 115,661 125,560 135,450 145,322 155,166 164,973 174,731 184,429 Deferred Fee/Incentive Mgmt Fee 33% (15,583) (18,827) (22,086) (25,356) (28,637) (31,925) (35,219) (38,515) (41,811) (45,105) (48,392) (51,670) (54,936) (58,186) (61,415) Cash Distribution
CA HCD 11,407,821 74.0% (23,109) (27,921) (32,753) (37,604) (42,469) (47,346) (52,230) (57,118) (62,007) (66,891) (71,766) (76,627) (81,470) (86,289) (91,079) City 4,000,000 26.0% (8,103) (9,790) (11,485) (13,185) (14,891) (16,601) (18,314) (20,028) (21,742) (23,454) (25,164) (26,868) (28,567) (30,256) (31,936) 15,407,821 100.0%
Remaining Cash Flow (0) 0 0 (0) (0) 0 (0) 0 (0) (0) (0) (0) (0) (0) (0) 33 Lot T Refined Proposal | Alta Housing | 10.29.24

SCENARIO C

EVALUATION OF SCENARIO & IMPACT OF NO ON-SITE PARKING
Our team saw Scenario C as an opportunity to be as cost-efficient as possible, given the absence of parking. To do this, we kept the entire building as Type V-A construction, which limited the building height to four stories. We were able to accommodate 47 units and a 3,900-square-foot ground-level courtyard.

Eliminating the concrete podium reduced the per unit cost from $1.03 M in Scenario A to $979 K in Scenario C.

We believe Scenario C is the most feasible of the three options for several reasons:
• Cost Efficiency: The building’s simplicity, with no concrete podium and uniform Type V-A construction, makes it the most economical of the three scenarios.
• Simpler Planning Approvals: Unlike Scenario B, there’s no need to undergo the condominium process. • Financing Competitiveness: The project will be more competitive for financing since we won’t need to request the maximum loan amount per unit in CA HCD funding nor apply for state tax credits. • Shortest Timeline: The structure in Scenario C is the simplest to build and has the shortest construction timeline, which allows us to deliver affordable housing to the community sooner.

The primary drawback of Scenario C is the lack of parking for residents. However, this location is ideal for households without cars due to its proximity to high-quality public transportation. Residents can easily access multiple bus routes, including the SamTrans 280, 281, 2960, and 397 Buses right outside the building at the corner of Kipling and Lytton Ave. A few short blocks away, they can also catch the VTA 21 Bus or Dumbarton Express.

Additionally, the site is just 0.4 miles from the Palo Alto Caltrain station, providing access to the Caltrain, VTA 522 Bus Rapid Transit (BRT), and the local VTA 22 Bus.

To encourage and facilitate non-vehicular modes of transportation, the building will include secure bike storage facilities. For households that require the use of a car, we could collaborate with the City to offer residents reduced- rate permits for parking in nearby garages.

CITY CONTRIBUTION
Similar to Scenarios A and B, we are 1) requesting a $4 million soft loan from the City of Palo Alto, to be made available during construction with interest that is accrued and deferred over the 16-month construction period; 2) requesting a ground lease at a nominal rate of $1 per year; and 3) planning to take advantage of the City’s development impact fee exemptions for affordable housing. These contributions from the City are considered “leveraged soft sources” and will be critical when we apply for tax credits since they increase the competitiveness of our application.
34 Lot T Refined Proposal | Alta Housing | 10.29.24

ENTITLEMENTS
Submit SB423/SB330 Notice of Intent to City of Palo Alto March 2026 Submit SB423 application August 2026
City issues determination whether the project meets the City’s objective standards Oct 2026 | (60 days)
City grants ministerial approval Nov 2026 | (90 days) Submit building permit application March 2028
Receive building permit ready letter Jan 2029 | (10 months)

CONSTRUCTION
GC bids project Oct 2028 - Jan 2029 | (3 mo)
Enter into construction contract March 2029
Start construction April 2029
Complete construction Jul 2030 | (16 mo)

LEASE-UP/OCCUPANCY
Begin marketing July 2029
Begin lease-up process January 2030
100% occupancy Oct 2030 | (3 mo)

SCENARIO C

TEAM MEMBERS & ROLES

RANDY TSUDA
Randy has been the CEO and President of Alta Housing since 2018. Prior to joining Alta, he was Mountain View’s Director of Community Development. His career includes experience in the nonprofit, private, and public sectors, and spans real estate, city planning, affordable housing, and economic development. He has worked on projects that received awards from the American Planning Association, American Society of Landscape Architects, and in May 2018 received the “Bringing It Home” award from SV@Home, a policy and advocacy organization focused on increasing affordable housing in Silicon Valley. Under Randy’s leadership, Alta Housing has grown its development pipeline by over 500 units and staff headcount by 20%.

CARLOS CASTELLANOS
As Vice President of Real Estate Development, Carlos is responsible for acquisitions and new development. He has over 25 years of experience in real estate development and affordable housing. Before joining Alta Housing, he led development in the East Bay for MidPen Housing Corporation. He enjoys working with the diverse populations of the Bay Area to build healthy, vibrant and safe neighborhoods and making stable, affordable housing the cornerstone to achieving his vision.

ALTA HOUSING
Alta Housing (formerly Palo Alto Housing) is a community-based nonprofit 501(c)(3) focused on providing affordable housing and resident services in Santa Clara and San Mateo Counties – the heart of Silicon Valley. Our mission is to create stronger, more diverse communities by providing and maintaining high-quality, affordable housing where individuals and families thrive. For over 50 years, Alta Housing (AH) has built award-winning housing while assisting individuals and families in reaching their goals through our robust resident services program. Across our portfolio, more than 80% of our properties are geared towards families but also include housing for seniors and special needs populations. With our committed staff of 69, AH develops, owns, self-manages, and provides resident services for all of its properties. As a long-term owner and developer of affordable properties on the mid-peninsula, AH brings significant financial security and the ability to leverage creative funding sources to any new development project.

AH is run by a dedicated team of leaders and staff members who bring extensive experience and commitment to our mission. Our Board and staff members live in the areas we serve and have deep roots in the communities we operate. These relationships help us leverage local resources and ensure they are accessible to our residents.

AVA KUO
Ava Kuo is a Senior Project Manager at Alta Housing and will be providing support to the Project Manager for the development outlined in this proposal. Ava joined Alta Housing in 2022. She has considerable experience managing new construction projects in Santa Clara County and led the development team at First Community Housing before joining Alta Housing. Currently, Ava continues to manage projects while also assisting the VP of Real Estate Development in new business development and mentoring other project managers.

37 Lot T Refined Proposal | Alta Housing | 10.29.24

JUSTINE TSAI
Justine Tsai is a Project Manager at Alta Housing and will oversee the development of the affordable housing project outlined in this proposal. After working on projects in Alameda County, Justine joined Alta Housing in 2022, where she has managed projects in Santa Clara County and San Mateo County. Under the supervision of the VP of Real Estate Development, Justine leads projects from acquisition through lease-up. She is responsible for keeping projects on schedule and within budget throughout the development process.

SHERYL KLEIN
Sheryl Klein will lead Alta’s community engagement and outreach. Sheryl was responsible for the successful community support for Wilton Court Apartments. She is an active member of the Palo Alto community and her community involvement includes co-chairing the PA Housing Element Working Group and serving on the Board of Directors of the Palo Alto Community Fund and Downtown Farmers’ Market.

The Alta Housing Development
Team ready to get to work.

STEPHANIE SHIPE
As the Vice President of Property Management, Stephanie Shipe oversees the management of Alta Housing’s 28 properties. She brings over 15 years of progressive experience in multi- family property management with expertise in landlord/tenant law, fair housing, and issues related to affordable and subsidized housing. Prior to joining Alta, Shipe served as the Director of Portfolio Management for the Housing Authority of the City of Alameda, California.

LENITA WHEELER
Lenita Wheeler joined Alta Housing in 2024. She has over 20 years of experience in community organizing, advocacy, and social services. She believes that everyone deserves the opportunity to live well in safe, affordable homes and communities where they can thrive.

Lenita’s journey includes impactful director roles at the Oakland Housing Authority and Destination: Home. Additionally, she has consulted with social impact agencies on board development, fundraising, and process improvement. Lenita holds a Bachelor’s degree from Stanford University and serves as a Commissioner on the City of Hayward’s Community Services Commission..
38 Lot T Refined Proposal | Alta Housing | 10.29.24

ADRIANNE STEICHEN, AIA, NCARB, LEED AP
Adrianne brings 20 years of experience and leadership to multifamily residential developments throughout the San Francisco Bay Area; Adrianne believes that good design is for everyone and chose a path in housing as an opportunity to improve lives, delivering good design at all income levels. As Principal at PYATOK, Adrianne inspires teams to design and deliver housing for all people across the San Francisco Bay Area region, passionately writes and presents about the design of dignified housing in walkable urban communities to professionals and communities all over the United States, and tirelessly cultivates leadership in equity – within the office, through her direction of firm policies and procedures as well as her mission-focused design approach within projects – and in the community, through her activism in professional and neighborhood organizations. Adrianne is a licensed architect in California and Oregon, a LEED Accredited Professional in BD+C and Homes, and holds a Master of Architecture from Tulane University with a minor in Film Studies. In 2015, the American Institute of Architects nationally recognized Adrianne as one of its Y oung Architects of the Y ear. Adrianne previously worked with Alta Housing on Wilton Court and Tree House affordable housing projects in Palo Alto.

TEAM MEMBERS & ROLES
PYATOK ARCHITECTURE + URBAN DESIGN
PYATOK architecture + urban design is a mission-driven, full-service architectural firm with a focus on community and stakeholder engagement. We specialize in the master planning and design of multifamily residential projects, including affordable housing of all types as well as market-rate, workforce, and student housing. Our staff includes 50 professionals who are dedicated to the belief that the best urban communities come about through a partnership between project sponsor, community, city staff, and an open-minded design team.

Garnering local and national design awards, our projects have always been built to conform to the critical demands of local context, program, schedule, and budget. Over our nearly 40 years of service across the Bay Area and West Coast, PYATOK has built a culture of collaborative leadership and expert project management. We design to maximize the efficiencies of construction typologies including wood frame, prefab, and modular systems, delivering complex projects on accelerated schedules. We collaborate closely with the owner, builder, local authorities, and project stakeholders. Leveraging the latest green building technologies, cutting-edge modeling processes, and participatory design methods, we create attractive, healthy, energy-efficient living spaces and communities that contribute to their neighborhoods’ vitality.

THERESA BALLARD, AIA, LEED AP
PYATOK principal Theresa Ballard has over 20 years of experience designing and delivering residential communities at all sizes, densities, and user groups, with a primary focus on affordable multifamily, student, and permanent supportive housing. She has managed both new construction and renovations, balancing technical knowledge with creative solutions for creating community among distinctive resident groups, and tailoring living spaces to their community’s specific needs, priorities, and settings. Theresa is a former Planning Commissioner for the city of Newark, California, and a former Board Member and President for Abode Services, a San Francisco Bay Area nonprofit housing developer. She has recently participated in conference panels for Co-locating Permanent Supportive Housing with Homelessness Services (Non-Profit Housing Association of Northern California, 2022) and Gold Nugget Awards: Winners and Trends (Pacific Coast Builders Conference, 2022).

Theresa has a Bachelor in Architecture from Cal Poly San Luis Obispo. Theresa previously worked with Alta Housing on Oak Court affordable family housing in Palo Alto’s Professorville neighborhood.

39 Lot T Refined Proposal | Alta Housing | 10.29.24
PYATOK after an annual
retreat at the Crucible

CHRIS ARD, AIA
Associate Chris Ard, AIA, joined PYATOK in 2016 and earned his licensure in 2023. With experience in residential design and construction, Chris is committed to developing high quality, universally accessible housing. He appreciates working in multifamily housing as an opportunity to positively impact individuals and communities through thoughtful design. At PYATOK, Chris has contributed to market-rate campuses, affordable multifamily communities and supportive senior housing projects across the Bay Area, while leading the office in the development of REVIT standards.

After earning a B.S. in Architecture from Texas Tech University, Chris moved east to pursue an M.Arch at Virginia Tech’s Washington Alexandria Architecture Center. A talented graphic designer, Chris enjoys the varied scales of design, from diagrams to master plans. In addition to project work Chris has supported PYATOK’s pro bono efforts for local schools and artist nonprofits.

40 Lot T Refined Proposal | Alta Housing | 10.29.24
Wilton Court is an all-electric, new construction, 100% affordable housing community located in the Ventura neighborhood of Palo Alto. Twenty-one apartments are set aside for adults with intellectual or developmental disabilities who are seeking an independent living environment. Alta Housing has partnered with the Housing Choices Coalition and San Andreas Regional Center to better serve this community.

Wilton Court is a GreenPoint Rated Gold project featuring rooftop photovoltaics, solar hot water panels, on-site EV charging, drought- tolerant landscaping, bioretention stormwater management, recycled water for landscape irrigation, low flow plumbing fixtures, energy efficient appliances, low-VOC paints and finishes, and a secure bicycle room with space for 70 bicycles.

Wilton Court received a Citation Award in Architecture from AIA Silicon Valley Design Awards in 2023.

WILTON COURT APARTMENTS
3705 El Camino Real, Palo Alto, CA 94303
Affordable, Supportive Housing for Individuals & Families at 30%-60% AMI 59 FLATS
.69 PARKING RATIO
55,500 BUILDING S.F.
.46 ACRES
128 D.U.A.
$46.3M TOTAL DEVT. COST
2022 COMPLETION
CALGREEN TIER 2

CONSTRUCTION TYPE
• V-A over I-A

UNIT MIX
• 55 Studios (93%)
• 4 1BRs (7%)

PERMANENT FUNDING
• 4% LIHTC w/Enterprise
Neighborhood Partners
• City of Palo Alto
• County of Santa Clara
• CA Community Reinvestment
Corporation

NET OPERATING INCOME
• 2023 Projected – $347,248
• 2023 Actual – $478,395

41 Lot T Refined Proposal | Alta Housing | 10.29.24
Carefully designed to blend into a highly sensitive Palo Alto neighborhood, this compact community of 35 studio units serves single adults, ranging from seniors to youth recently released from foster care. Indoor and outdoor common areas are thoughtfully arranged to encourage interaction among the residents and to support the long-term goal of helping residents transition to economic independence.

Amenities include on-site resident support services, a
community room, central laundry facilities, a computer room, a community room with a kitchen and outdoor deck, and secure bicycle parking. The building’s careful placement allowed for the preservation of 12 out of the 13 existing heritage trees, creating a shaded refuge and providing a natural visual buffer from neighboring homes.

Tree House Apartments received the Grand Boulevard Initiative Award in 2013 and the Growing Smarter Together Award from the Association of Bay Area Governments in 2012.

TREE HOUSE
488 W Charleston Rd, Palo Alto, CA 94306
Affordable Senior & Special Needs Housing for Individuals & families at 20% - 50% AMI 35 FLATS
.90 PARKING RATIO
21,000 BUILDING S.F.
.70 ACRES
50 D.U.A.
$14.7M TOTAL DEVT. COST
2011 COMPLETION
GPR PLATINUM (193 POINTS)

CONSTRUCTION TYPE
• Type V-A

UNIT MIX
• 33 Studios (93%)
• 2 1BRs (7%)

PERMANENT FUNDING
• LIHTC w/Enterprise Neighborhood
Partners
• City of Palo Alto
• County of Santa Clara
• Bank of America
• Opportunity Fund

NET OPERATING INCOME
• 2023 Projected – $52,545
• 2023 Actual – $138,491
42 Lot T Refined Proposal | Alta Housing | 10.29.24
Oak Court Apartments is located at the edge of downtown Palo Alto in Professorville, a neighborhood known for its charming tree-lined streets and well-preserved Craftsman, Colonial Revival, and Shingle-style homes. The project consists of 53 apartments for low-income families in townhomes over flats, with a partial subterranean garage beneath.

PYATOK facilitated several community meetings to gather input, resulting in buildings that were well received by local homeowners. A historic boarding house was relocated to the corner of the site and now serves as the manager’s office and a community center. All the units feature patios or balconies, and several have private porches that blend seamlessly into the streetscape. Amenities include a playground, computer learning center, garden labyrinth, secure bicycle storage, and laundry facilities.

Oak Court Apartments received the Golden Nugget Grand
Award from the Pacific Coast Builders Conference in 2005 and Builder Magazine’s Merit Award in 2005.

OAK COURT APARTMENTS
845 Ramona St., Palo Alto, CA 94301
Affordable Housing for Families at 40% - 60% AMI
53 FLATS & TOWNHOMES
2:1 PARKING RATIO
67,000 BUILDING S.F.

1.2 ACRES
44 D.U.A.
$15M TOTAL DEVT. COST
2005 COMPLETION

CONSTRUCTION TYPE
• V-A over I-A

UNIT MIX
• 9 1BRs (17%)
• 19 2BRs (34%)
• 26 3BRs (49%)

PERMANENT FUNDING
• LIHTC Equity
• City of Palo Alto
• FHLB Affordable Housing Program
• Housing Trust of Santa Clara County
• California Federal Bank

NET OPERATING INCOME
• 2023 Projected – n/a
• 2023 Actual – $231,245

43 Lot T Refined Proposal | Alta Housing | 10.29.24

DEVELOPMENT EXPERIENCE
Alta Housing (AH) has been developing affordable housing in the heart of Silicon Valley for over 50 years. We take pride in building well-designed and attractive projects that minimize their environmental impact. Today, our portfolio has over 1,000 units at 28 properties that provide housing to extremely low- and low-income individuals, families, seniors, veterans, formerly homeless, and adults with intellectual and developmental disabilities. Palo Alto has served as Alta Housing’s home base for the past 50 years – out of the 28 properties in its portfolio, 23 are located in Palo Alto.

Alta Housing has a strong balance sheet and extensive experience obtaining public funding and grants for our development projects. Not only are we familiar with working with local cities and counties to apply for local funding, we are also knowledgeable about state funding programs offered through the CA Department of Housing & Community Development (HCD). We have extensive experience in securing both 4% and 9% Low Income Housing Tax Credits (LIHTC) and tax-exempt bonds.

Alta Housing’s expansive portfolio demonstrates its ability to develop financially secure, vibrant projects. We are proud of the high-quality, well-maintained, and safe housing that we create and the support that we provide to our residents in reaching their goals.

Alta Housing and PYATOK have been partnering to create high-quality housing communities for the past 20 years. The two firms first worked together twenty years ago on Oak Court Apartments, a 53-unit family apartment community at the edge of downtown Palo Alto, on the former Palo Alto Medical Foundation site. Alta Housing and PYATOK continued to work together on two subsequent projects, Tree House Apartments and Wilton Court.

These three award-winning projects are excellent examples of projects similar in size, target population, and/or construction type to the projects in this proposal.

Oak Court
44 Lot T Refined Proposal | Alta Housing | 10.29.24

PROPERTY MANAGEMENT
PAHC Management & Services Corporation (PAHCMSC) is Alta Housing’s property management division. Its objectives are to provide decent, safe, and sanitary housing to very low- and low-income seniors and families.

Since we built our first development in 1972, we have been leasing up and managing properties so they remain highly attractive, safe, and inviting for our residents. Our 1000+ unit portfolio includes SROs, developments for senior and disabled residents, and permanent supportive housing for veterans and previously homeless residents.

Our properties are designed and consistently and professionally managed to be aesthetically pleasing and blend into their surrounding neighborhoods. In addition to managing Alta Housing-owned and developed properties, PAHCMSC also serves as the property manager for three non-Alta Housing-owned properties.

Our property management team has decades of experience managing all aspects of a property life cycle.

Managers are experienced in affirmatively marketing our properties in compliance with local, state, and Federal fair housing laws and regulatory agreements; recruiting residents; and maintaining waiting lists. We are familiar with administering both city and county preferences for tenant selection. In addition, our multicultural staff is sensitive to working with residents and applicants from diverse backgrounds.

PAHCMSC effectively and efficiently manages properties and works closely with our Resident Services team to encourage and promote independent living so that our residents are able to remain in their homes.

45 Lot T Refined Proposal | Alta Housing | 10.29.24

RESIDENT SERVICES PROVIDER EXPERIENCE
Alta Housing is committed to developing communities where residents not only live, but thrive. The Alta Housing Resident Services Division has provided on-site services at our current housing developments for over 20 years as part of that commitment. Throughout our portfolio of family, senior, and SRO housing units, our mission has been to partner with residents to provide services that are resident-driven, strength-based, impactful, and empowering. We provide support in the following three service areas:

Our team of Service Coordinators is well-versed in local resources and can refer residents for specialized services to any number of community partners. Services work best when the residents are part of the service design process – at move-in, residents have the opportunity to express their needs through needs assessments, surveys, and focus groups. Each household has different goals, and we customize services to meet the needs of each individual property. The portfolio of services may include, but is not limited to:
• Weekly office hours for support counseling and housing retention – helping to mitigate any personal needs that may impact housing stability. This includes information and referral to local community agencies to assist with specific household needs such as counseling, childcare, transportation, public benefits, etc.; • Financial empowerment workshops and coaching – financial literacy concepts discussed in a group setting and individually including budgeting, credit repair, debt reduction, savings plan, etc.; • Referrals for job coaching services through a partnership with the local adult school helping residents to work on and advance their career goals;
• English as a Second Language and computer literacy classes taught by community volunteers or partner organizations;
• Health and wellness programs that bring in information on living with chronic health conditions; • Food security programs through partnerships with local food banks to assist residents in extending their budgets through food savings;
• Annual scholarship for adults returning to school to advance their careers, the Opportunity Scholarship; • Annual community-building events such as barbecues and holiday parties.

Supporting Counseling &
Housing Retention
1-on-1 individualized confidential assessments of needs and support with problem-solving around goals and housing stability needs.

Community Building &
Resident Leadership
Events that strengthen the bonds between neighbors and provide opportunities for residents to get involved in their community.

Educational Programs &
Social Services
Providing specialized classes, workshops, and programs for adults, seniors, parents, and children based on identified needs and interests, often through partnerships with community agencies. Examples include afterschool & summer youth programs; parenting classes; financial literacy workshops; job coaching; health & wellness initiatives
46 Lot T Refined Proposal | Alta Housing | 10.29.24
In 2024, Alta Housing received a $750,000 grant from the Silicon Valley Community Foundation (SVCF) to launch its groundbreaking Wellness Navigation Pilot Program, a two-year initiative designed to provide comprehensive wellness services to low-income residents in Palo Alto. This initiative addresses several key challenges faced by the community, including rising mental health issues exacerbated by the COVID-19 pandemic, limited access to holistic wellness services for low-income residents, and complex public benefits systems that create barriers to accessing support. These factors underscore the need for integrated services that address resident needs.

The Wellness Navigation Program will support residents by increasing their access to health services and public or community-based benefits, and helping them navigate complex systems to obtain essential resources. It will enhance mental health services by offering individual and group therapy sessions, while also promoting holistic wellness through mindfulness, nutrition, and fitness programs.

Oak Court
Thank You
LEARN MORE AT ALTAHOUSING.ORG
3460 West Bayshore Road, Suite 104, Palo Alto, CA 94303

Palo Alto City CouncilJanuary 21, 2025

Palo Alto City Council
January 21, 2025