THE CORE companies
Building Better Communities™™
April 8, 2024
California Department of Housing & Community Development (HCD) c/o Jose Jauregui [email protected]
Paul McDougall [email protected]
RE: Support for the draft of the City of Santa Clara's 6th Cycle Housing Element.
Dear HCD Representatives:
We are writing to express our support for the March 2024 draft of the City of Santa Clara's 6th Cycle Housing Element. The City of Santa Clara's Housing Element provides a comprehensive plan to advance actionable and specific programs, policies, and strategies to allow housing development to occur for all income levels, including for those that are facing the highest threats of displacement.
The City of Santa Clara has been a partner in creating affordable units within the City. The Core Companies has worked with the City of Santa Clara for almost 20 years to build housing and affordable housing in the city of Santa Clara. The city has provided grants, loans, ground leases, density bonuses and general support and flexibility as we have developed over 6 projects over the last 20 years. In January 2020, The Core Companies received entitlements to allow for the construction of the Agrihood project, a mixed-use project that includes 165 below-market-rate (BMR) units reserved for seniors and veterans at an average of approximately 45% AMI; 160 market-rate apartments, 36 for-sale townhomes, 5,000 square feet of commercial space, as well as an urban farm. This project included a Ground Lease and Loan Agreement, with the City, which controls how the Senior Affordable Project will be developed and the terms and conditions of The CORE Companies | 470 S. Market Street | San Jose, CA 95113 | 408.292.7841 |www.thecorecompanies.com
the relationship with the City over a 55-year term. Without the city's commitment to this project, it would not have come to fruition.
We greatly appreciate the State's focus on ensuring that community stakeholders have a voice in this process. We are all in accord on the importance of increasing the stock of affordable housing, preserving our existing affordable housing, protecting our residents from becoming unhoused and helping those who have become unhoused, and increasing equity and housing choices for protected class residents in Santa Clara. We encourage the State to certify the March 2024 version of the City's 2023-2031 (6t*) Cycle Housing Element as soon as possible.
Thank you for taking our comments into consideration.
Sineenely,
hris Neale
President, The Core Companies
Cc:
Mayor Lisa Gillmor
Santa Clara City Council
Jovan Grogan, City Manager
Reena Brilliot, Acting Director of Community Development