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Below-Market Rental Housing Opportunities
 

Below-Market Rental Housing Opportunities

City Below-Market Rental (BMR) Program

The City encourages the construction of affordable rental housing by allowing special consideration for projects that provide rental apartment units at below-market rent levels. Nearly 1,000 below-market rental (BMR) apartment units have been built in Pleasanton since the mid-1980's, including most recently a 100-unit complex opened by Greenbriar Homes in 2002 that includes 31 BMR units ("The Kensington").  A new 350-unit project called "Stoneridge Station" by Windstar Communities was approved in 2008 for a site adjacent to the future BART station near Stoneridge Mall.  The complex will include 70 apartments for very low income households, and construction is expected to begin soon.

Where are City BMR apartment units located?

The rental apartment developments with BMR units are located throughout Pleasanton.  The location and other details about each complex are listed in the table at the end of this section.

What rents are charged for BMR apartment units?

Rents for BMR units are based on a percentage of the Area Median Income (AMI) for the Alameda – Contra Costa County area as determined annually by the federal government.  The maximum BMR rents for most participating properties are based on 80% of the AMI, although several properties offer lower rents based on 60% and 50% of the AMI.  The current maximum income levels and corresponding maximum rents can be found here (these figures are updated annually generally in February or March of each year).  It should be noted that BMR rents are not based on each individual household’s income but rather on the applicable percentage of the AMI.  In addition, the actual rents charged under the BMR program may be less than the maximum amounts shown in the table.  As shown in the most recent survey of rents and vacancy rates in Pleasanton apartments, rents charged for BMR apartment units typically average twenty to thirty percent less than market rents in the same complex (in complexes that offer BMR units) although the degree of difference varies over time depending upon the state of market rents.

Do I qualify?

In order to qualify to rent a BMR apartment, your income must generally not exceed 80% of the local median income level (as discussed above, several complexes also have apartments for households at 50% and 60% of median income).  The current maximum annual incomes (by household size) and corresponding maximum rents (by unit size) can be found here.  As discussed earlier, the maximum income and rent levels are adjusted annually based on new information from the federal government.

Whom should I call?

Telephone numbers for apartment complexes with BMR apartment units are listed in the table at the end of this document.  Leasing is handled directly by the property manager for each apartment complex.  For additional information on the BMR program and participating apartment complexes, you may also contact the City of Pleasanton Housing Division, 200 Old Bernal Avenue, Pleasanton, CA  94566 (925-931-5007; email: serickson@cityofpleasantonca.gov).

The City has also been involved in the construction of over 500 rental apartments that are reserved for low and very low income seniors (aged 62 and older).  Kottinger Place and Ridge View Commons are administered by the City. Deer Ridge Apartments (443 Division Street), Stanley Junction (4031 Stanley Boulevard), and the Gardens at Ironwood (3431 Cornerstone Court) are privately owned, but the rents and qualifying income levels are regulated through agreements between the City and the owners.  Pleasanton Gardens senior apartments offers affordable rental units through a federal subsidy program.  Leasing for all of these complexes is handled directly by each property manager, and telephone numbers are listed in the table shown below.

The Parkview assisted living facility opened in 2007.  The facility offers housing with a range of services for individuals who need assistance with “activities of daily living.”  The project is the result of a collaboration involving the City of Pleasanton, BRIDGE Housing Corporation (a nonprofit affordable housing developer), and Eskaton (an assisted living service provider).  A total of 31 of the 105 units in the complex have reduced rates targeted to very low income (50% or less of the Area Median Income, or AMI) and extremely low income (25% or less of AMI) senior citizens.  The remaining 74 units are available at market rates.  Leasing for the Parkview is handled directly on site (925-461-3042; www.eskaton.org/parkview.html).

A favorable combination of nice apartment units and relatively affordable rents may also be found in some of the older parts of Pleasanton, such as the Downtown area and along Vineyard Avenue.  Available rentals in these and other areas can often be located through the newspaper or by contacting a residential real estate professional.  The Housing Authority of the County of Alameda (HACA) can also provide information on housing opportunities involving federal and/or state assistance in Pleasanton and elsewhere in Alameda County.  HACA’s office is located at 22941 Atherton Street in Hayward (tel. 510-538-8876; www.haca.net.)

 

Complex / Development:

Address / Location:

Total Units:

Below Market:

Disabled Adaptable:

Telephone Contact:

BMR Units: (General)

 

 

1.

Archstone Hacienda

5650 Owens Dr.

540

135

 

925

398-7368

2.

The Kensington Apartments

1552 East Gate Way.

100

31

925

846-8882

3.

The Promenade Apartments

5300 Case Ave.

146

68

8 

925

461-1948

4.
Civic Square Apartments 4800 Bernal Ave.
298
5
 

925

484-1011

BMR Units: (Seniors Aged 62+)

(subtotal:)

239

 

 

5.
Parkview (Assisted Living)
100 Valley Ave.
105
31
105

925

461-3042

6.

Kottinger Place

240 Kottinger Dr.

50

50

2

925

846-0133

7.

Ridge View Commons

5200 Case Ave.

200

200

38

925

484-5131

8.

Division St. Senior Apts.

443 Division St.

20

20

 

925

484-3833

9.

Stanley Junction Senior Apts.

4031 Stanley Blvd.

86

86

 

925

462-6180

10.
Pleasanton Gardens (Senior)
251 Kottinger Dr.
40
40

925

846-3050

11.
Gardens at Ironwood
3431 Cornerstone Ct.
172
138

1-888

210-8896

(subtotal:)
565
Total BMR Units:
804

 

Future Below-Market Rental Developments

The following additional projects with BMR units are either recently approved or are at some stage in the review process:

 

Development / Developer

Location

Total Units

BMR Units

Notes

Hacienda Site 1

(BRE Properties)

Owens Dr. /

Willow Rd.

254

38

Approved May 2012; building permit review Feb 2014

Hacienda Site 2

(BRE Properties)

Gibraltar Dr. /

Hacienda Dr.

251

38

Approved May 2012; building permit review Feb 2014

Residences at Calif. Ctr.

(Pleasant Partners)

4400-4460 Rosewood Dr.

305

46

Approved May 2013; construction not yet begun

Anton Hacienda

(St. Anton Partners)

5725 W. Las Positas Blvd.

168

35

Approved May 2013; construction began Jan 2014

Vintage

(AufderMaur / ES Ring)

Stanley Bl. /

Bernal Ave.

345

52

Approved August 2013; construction not yet begun

Commons at Gateway

(Pleasanton Gateway LLC)

Valley Ave. /

Bernal Ave.

307

52

Approved September 2013; construction not yet begun

Hacienda Site 3

(Developer TBD)

Gibraltar Dr. /

Hacienda Dr.

361

58

No application submitted yet as of Apr 2014

SummerHill Apt. Communities 5850 W. Las Positas Blvd.
177
TBD
Under development review Feb 2014

 

The City does not build housing directly but recently rezoned several new sites throughout Pleasanton (including those listed above) for future high density residential use.  It generally takes one to two years to build a large apartment complex, and the application process for BMR apartments does not start until a complex is approximately 50% completed.  Please check this web site periodically or contact the Housing Division for updates.

NOTE: It is illegal for any housing provider to discriminate on the basis of age, sex, race, physical handicap, marital status, sexual preference, or religion. If you have been unlawfully discriminated against, or you have questions about your rights, contact ECHO Housing at 510-581-9380 or 925-449-7340.

 

 

 

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