Public-private partnership for 151-apartment community includes the City of Santa Clara, Housing Trust Silicon Valley, CalHFA, Google and Bank of America
SANTA CLARA, Calif. – USA Properties Fund and The Pinyon Group have completed Mainline North, an affordable apartment community that brings much-needed workforce housing to the fast-growing neighborhood near Levi’s Stadium in Santa Clara.
Mainline North – located at 2310 Calle Del Mundo, near Tasman Drive and Lafayette Street – is the latest project in the award-winning Tasman East Specific Plan, a transit-oriented and pedestrian-friendly area just a few blocks from Levi’s Stadium, home of the San Francisco 49ers and site of Super Bowl LX and FIFA World Cup soccer matches this summer.
“The grand opening of Mainline North is a milestone for our city,” said Santa Clara Mayor Lisa Gillmor. “Affordable housing is essential to keeping our community inclusive and vibrant, and we are proud to partner in bringing this development to life. This project not only provides high-quality homes for working families but also contributes to building a future where everyone has the opportunity to thrive.”
The 151-apartment community is close to an elementary school, a park and public transportation – including the VTA light-rail station, ACE and Amtrak train stations, and several bus stops. Mainline North is also a few blocks from Related Santa Clara, a recently completed development, The Clara, Ellore Senior Living, Ensemble’s AVE Santa Clara, The Lafayette by Summerhill Communities and Passero by Greystar.
“Mainline North is at the center of one of the fastest-growing areas in the Bay Area, offering residents career opportunities, many entertainment options and easy access to public transit,” said Geoff Brown, President and CEO of USA Properties Fund. “The apartment community fits the needs of a wide range of residents, from early-in-their-career professionals to retirees living on a fixed income.”
Mainline North
Some residents have already started moving into Mainline North, the second project between USA Properties Fund and The Pinyon Group.
“The Pinyon Group is proud to partner once again with USA Properties Fund to co-develop Mainline North,” said Jay Stark, Principal of The Pinyon Group. “Mainline North exemplifies The Pinyon Group’s commitment to building innovative, affordable housing in areas with the greatest housing needs.”
Public-private partnership paves the way for the $86 million development
The $86 million development is a public-private partnership that includes the City of Santa Clara, Housing Trust Silicon Valley, California Housing Finance Agency (CalHFA), Google, Bank of America, Ensemble Real Estate Investments and Related.
“Housing Trust is pleased to have provided acquisition financing to our partner USA Properties for Mainline North, and to see that investment become a thriving affordable housing community in Santa Clara,” said Noni Ramos, CEO of Housing Trust Silicon Valley. “This development demonstrates the power of public-private collaboration to create tangible results – safe, stable homes and stronger communities. Housing Trust remains committed to expanding access to affordable housing and opportunity across the region.”
Mainline North helps increase affordable housing in Santa Clara and Silicon Valley, where 45% of renters – more than 140,000 people — are considered cost-burdened, spending at least 30% of their household income on rent, according to the Joint Center for Housing Studies of Harvard University.
“Mainline North is a fantastic example of what we can achieve when public and private sectors collaborate to tackle the Bay Area’s housing crisis head-on,” said Javier González, Head of Google’s California Local Government Affairs and Public Policy. “As part of our commitment to being a helpful neighbor in our hometown community, we’re proud to help unlock vital projects like this. Together, we are not just enabling homes, we are creating vibrant neighborhoods and a more sustainable housing ecosystem for the region.”
The City of Santa Clara has added more than 1,300 affordable homes since 2018, including hundreds in the Tasman East neighborhood.
“The transformation of formerly industrial Tasman East into a vibrant work/live neighborhood has been exciting to witness and to help finance,” said Raquel González, Bank of America President for Silicon Valley. “Mainline North offers more high-quality, transit-oriented, affordable housing for Santa Clara working families, demonstrating that even in high-cost regions like Silicon Valley, affordability is possible through public-private partnerships.”
Affordable housing for a wider range of income levels
Mainline North is part of the California Housing Finance Agency’s Mixed-Income Program, which assists with the cost of development and ensures housing for residents with a wider range of incomes, from early-in-their-career teachers to even some positions in the good-paying tech sector.
Mainline North is for households that earn 30% to 70% of the median income for Santa Clara County – or about $42,200 for a single resident to more than $174,400 for a seven-person family.
The apartment community offers studios to three-bedroom units, with rents ranging from $1,003 to $2,504 per month, significantly less than nearby market-rate units.
“Mainline North’s 151 units of much-needed affordable housing were created by a collaboration between private business, state government and local partners through CalHFA’s Mixed-Income Program,” said Rebecca Franklin, Deputy Director for CalHFA. “At CalHFA, we are exploring ways to expand partnerships like this one to build more housing that is affordable to Californians earning low and moderate incomes across the state.”
CalHFA’s Mixed-Income Program has assisted almost 70 affordable apartment communities with a combined 11,370 units since 2019. USA Properties Fund has used the program several times.
Mid-rise apartment community offers high-end amenities
Mainline North is an eight-floor building, with the first three floors for the parking garage, lobby and leasing area, clubhouse, fitness center and business center. The remaining floors are for apartments and includes a rooftop deck, recreation room and laundry facilities.
Apartments feature carpeting and vinyl-plank flooring, energy-efficient appliances and light fixtures, and low-flow faucets, showers and toilets.
Mainline North is the fourth apartment community for USA Properties Fund in Silicon Valley, including the recently completed Virginia Street Studios, one of the largest affordable apartment communities in downtown San Jose.
USA Properties Fund – one of the fastest-growing developer-manager-owners in the West – has eight apartment communities with almost 1,600 units combined underway, from the Portland region to San Diego County.
“We’re always looking for new opportunities to bring more affordable housing to communities, and provide safe, quality housing to lower-income residents,” said Brown of USA Properties Fund. “Affordable housing like Mainline North has a far-reaching impact and greatly improves the lives of residents and builds stronger communities.”