As read in an excellent recent article in the Town Crier by Staff Writer Alicia Castro, Los Altos will soon have 17 additional below-market-rate apartments at the "Colonnade Los Altos" at 4750 El Camino Real (in front of the recently remodeled San Antonio shopping center). Currently the City has 105 affordable multiple-family BMR units, including 32 rentals and 22 senior units, and 44 second-living units, according to the city's planning services manager, David Kornfield.
The requirements for people applying for these below-market
units are as follows:
“Very low income” requirement is $37,250 for 1 person to
$57,450 for 5 people. 
“low income”
requirement limits the range from $59,400 for 1 person to $76,400 for 3
people. (based on the County’s median income of $106,300 for a 4-person
household).
“low income”
requirement limits the range from $59,400 for 1 person to $76,400 for 3
people. (based on the County’s median income of $106,300 for a 4-person
household).
The deadline for preliminary applications was extended to
the end of July 2015 in order to allow more eligible applicants to
participate. Preference is given in the selection process to salaried
employees of the city, the schools and fire department serving Los Altos
residents. Some preference is also built-in the selection process for Los
Altos residents and workers.
More info on this subject in the Town Crier of July 8,
2015. To submit a preapplication for the lottery process, and for full
details on the program, go to: www.leaselosaltos.com/affordable-housing-information
Francis
Silicon Valley real estate specialistDetailed, local trends etc...
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