Once completed, Centertown apartments in downtown San Rafael will offer 60 affordable homes for families.
The County of Marin is putting $5 million up for bid to developers who can apply for a portion of the funds to support affordable housing proposals.
The deadline to apply is March 17; applications are available at marincounty.jotform.com.
The available funding includes roughly $2.3 million in County Affordable Housing Funds (including a one-for-one match from the State Permanent Local Housing Allocation), $2.4 million in new federal funds from the American Rescue Plan, and $600,000 in federal Community Development Block Grant funds specific to housing project, according to a county announcement.
The funds can be used for acquisition, rehabilitation and new construction projects, although eligibility differs among the funding sources, said the announcement.
The funds are intended to alleviate some of the financial barriers to needed affordable housing development, as Marin has some of the highest home prices and development costs in the country. According to county records, the median local price for a single-family detached home in recent years has hovered around $1.5 million, and typical rents range from $2,500 to $3,400. “During the COVID-19 pandemic, there has been increased concern about homelessness in Marin and discussions about how to stabilize renters and expand housing choice,” continued the announcement.
To address questions from potential applicants, County staff will host a virtual workshop at 1 p.m. Wednesday, March 1. Registration is open on the County’s Affordable Housing webpage. Around June, staff will present funding recommendations to the Board of Supervisors for final approval.
140 thoughts on “County of Marin Makes $5M Available for Affordable Housing Development”
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