Google Provides $6.5 Million in Equity Funding for New Affordable Multifamily Housing Community #shawnacosby #multifamily On Wednesday, September 4, 2013, the City of Mountain View and Google celebrated the grand opening of Franklin Street Family Apartments, a development by ROEM Corporation in partnership with the City of Mountain View. The grand opening celebration was held at 11:00 a.m. at 135 Franklin Street, Mountain View, CA 94041. “ROEM, the City of Mountain View staff, and consultants have produced a fabulous apartment community incorporating elegant architecture and amenities for 51 low income households,” stated Mayor John Inks, City of Mountain View. “This new high-quality development is part of the dramatic residential and commercial redevelopment occurring in downtown Mountain View.” Franklin Street Family Apartments offers 51 one-, two-, and three-bedroom affordable apartments to families with annual incomes at or below 50% of the Santa Clara County Area Median Income. This development is designed to provide a sustainable and affordable community for its residents while enhancing the existing neighborhood. The building architecture complements the unique downtown location and provides easy access to public transportation for its residents. Through its syndicator, AEGON USA Realty Advisors, Inc., Google has invested a total of $6.5 million equity in the Franklin Street Family Apartments. Google also provided additional grant of $81,859 for computer equipment and free Internet access for residents. “Our investment in Franklin Street Family Apartments is helping to create 51 new affordable housing units for families. Mountain View has been a wonderful home to Google, so we couldn’t be more thrilled to help others make this community their home as well,” said Kojo Ako-Asare, head of Google's corporate finance team. “Google remains committed to supporting affordable housing options in areas that allow for use of alternative transportation.” The development consists of a three- and four-story “C” shaped residential building with 92 parking spaces in a subterranean parking garage. The landscape design creates meaningful private and public open spaces, while preserving a significant number of trees. Amenities include a computer center and complimentary residential wi-fi, both sponsored by Google, a library, a community room, a fitness room, a courtyard, a tot lot, and a barbeque area, along with a wide array of resident services, including computer classes, ESL classes, and resident events.
snowghoul
titsay
yousharknotpass