SAN MATEO COUNTY BUYS 74-UNIT APARTMENT BUILDING TO PROVIDE AFFORDABLE HOUSING FOR TEACHERS AND SCHOOL STAFF

The San Mateo County Board of Education, the San Mateo County Office of Education, and the Housing Endowment and Regional Trust of San Mateo County have partnered to purchase a 74-unit apartment building intended to provide below-market housing for local educators and school staff, county officials announced earlier this month.

HEART purchased the San Mateo property with financing that includes a loan from the County Office of Education and bonds issued by HEART. The development was built in 2021 and is currently occupied. Existing tenants will remain, while units that become available will gradually be offered to eligible county office employees and school district staff at below-market rates, according to county officials.

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