The new, affordable housing development in Daly City is also a part of the Grand Boulevard Initiative -- which is a regional plan to create housing and job growth on the El Camino Real corridor along the Peninsula.
Congresswoman Jackie Speier, D-San Mateo, and San Mateo County officials celebrated a groundbreaking Thursday morning on a three-quarter acre lot that's being transformed into the affordable housing condo development.
Habitat for Humanity Greater San Francisco is building the three-story condominium development, it will provide homes to 36 local families. The development at 7555 Mission Street is expected to draw the sweat equity help of some 200,000 volunteers by the time construction finishes in 2012.
Habit for Humanity says the project will benefit the region by spending millions on building supplies and services, as well as the opportunity for more local, working families to purchase affordable homes.
"It provides so many things to the families that will ultimately move in here. It's right near the Colma BART station -- so it's very transit friendly for people to get to and from their jobs along the Peninsula and into San Francisco. It's very green focused, so it will be a high-density development with solar panels on the roof provided by PG&E, so energy costs will be low," said Habitat for Humanity Greater San Francisco Exec. Director Phillip Kilbridge.
The $15 million development is the largest ever for the Habitat for Humanity group; Daly City is investing $5 million, nearly $2 million comes from Proposition 1C, a housing bond measure passed by California voters in 2006, and the remainder from community donations. The selection process for prospective homeowners beings next spring. First preference is being given to families who live or work in Daly City, then San Mateo County residents.
Aside from a mortgage, each family must also contribute 500 sweat equity hours to help build their homes.
