Developer: Linc Housing
Housing Trust Loan: $1,784,500 Construction-to-Permanent
Proposed Units: 37
Population Served: Families
Congratulations to Linc Housing on securing financing for Hill Street Apartments, a 37-unit affordable housing development located in Belmont. Housing Trust is pleased to provide a $1,784,500 construction-to-permanent loan through our Apple Affordable Housing Fund to support this project.
The family-focused development will serve families earning between 30% and 80% of the area median income and will feature a computer lab, recreation room, and an outdoor common area with play spaces for children.
With an all-electric design, energy-efficient appliances, adherence to CalGreen standards, ample bike parking, and proximity to public transit, the project promotes sustainable living, reduces energy consumption, and fosters a greener environment for residents.
Hill Street represents a collaboration between Linc Housing and the City of Belmont, who provided the land for the project. San Mateo County also played a pivotal role by awarding 18 Project-Based Vouchers, ensuring deeper affordability for residents who were formerly homeless.
This is our second project in Belmont, following our support for 951 Old County Road, a 63-unit development for low-income families.
We’re excited to embark on our first project with Linc Housing and look forward to future collaborations to expand affordable housing across the region!
The Apple Affordable Housing Fund is part of Apple’s $2.5 billion commitment to address California’s housing crisis. Administered by Housing Trust, the $150 million fund provides flexible financing to accelerate affordable housing projects across the Bay Area, focusing on developments that are shovel-ready and serve a range of income levels.