Two Affordable Housing Developments
Break Ground in the City of Santa Cruz

MBEP’s team also took part in the May 19 groundbreaking for Pacific Station South project at an event that also highlighted the groundbreaking of Pacific Union Partners’ Cedar Street Apartments and the in-progress Downtown Library Affordable Housing Project.  

Pacific Station South will provide 70 family rental apartments, including 22 homes reserved for disabled individuals and 18 homes for individuals and families that are homeless or at risk of homelessness. Eligible households will have income levels ranging from 30-60 percent Area Median Income.

The City of Santa Cruz was supported in that project by Housing Trust Silicon Valley, which contributed to the Pacific Station South project.

“We are excited to have provided early-stage financing for this project,” said Noni Ramos, CEO of Housing Trust Silicon Valley. “Pacific Station South will make more affordable housing accessible downtown and allows us to continue our mission of creating safe, stable, and affordable housing solutions for our vulnerable South Bay community members. Their lives are going to change and will be enriched by the proximity to restaurants, retail, and transportation. This community is going to be strengthened.”

MBEP is proud to have partnered with the Housing Trust Silicon Valley to bring more investment into our region.

“In 2021, the Monterey Bay Housing Trust (MBHT) provided a $1 million predevelopment loan to the Pacific Station South project through the lead developer, For the Future Housing, to help ensure the project’s ongoing progress,” said MBEP Housing Program Director Matt Huerta. “This enabled them to assemble the funding needed to move toward construction including a $5 million investment from Apple. We look forward to much-needed affordable housing units soon.” 

Since 2016, the MBHT has invested over $23 million in local funds and created or preserved hundreds of new housing units in our tri-county region. 

Cedar Street Apartments will provide 65 family rental apartments to households with income levels ranging from 30-60 percent of Area Median Income. Twenty-five percent of the homes will be supportive housing for people who are disabled or homeless. 

The Downtown Library & Affordable Housing Project includes a modern library with resources for all, a child care facility, 120-125 units of very low-income housing, and a parking component of approximately 300 spaces that consolidates current surface parking lots to support these and other affordable housing developments in the Downtown.