Luna Vista Apartments Property Profile

Development Profile Developer: Alta Housing Property Management: PAHC Management & Services Architect: Van Meter Williams Pollack LLP

PROPERT Y PROFILE

LUNA VISTA

Mountain View

Contractor: Nibbi Brothers Development Type: New Construction Site Size: 0.61 Acre Density: 117 dwelling units/acre Target Population: 30-70% AMI Unit Count: 71 Construction Type: 4 Story Type-IIIA above 1 story Type -1

DEVELOPMENT DESCRIPTION Luna Vista is a new construction 71-unit 100% affordable housing community located a few blocks north of Mountain View Downtown’s Castro Street.

Households will be well served by the site’s proximity to amenities, transit, shopping, and location within the award-winning Mountain View Whisman School District.

The site is within walking distance of City Hall, the public library, parks, small grocery shops, the performing arts center and restaurants. Luna Vista is a mile from Downtown Mountain View CalTrain station and the weekly Farmers’ Market.

Adults with intellectual or developmental disabilities who are seeking an independent living environment receive preference on 15 homes. Alta Housing has partnered with Housing Choices Coalition and San Andreas Regional Center (SARC) to better serve this community.

PAHC Management & Services and Housing Choices are providing resident services which includes case management, activities to promote resident engagement, health and wellness programs, and assistance accessing community resources.

The project consists of 70 studio units for residents and 1 two-bedroom apartment for the on-site property manager. Each unit has access to bike parking and selfstorage. The design follows the principles of the El Camino Precise Plan and supports an active street frontage through a tall first floor with plentiful storefront windows, an inviting entry area with an art feature that gives a lantern effect at night, a warm and friendly community room facing El Camino Real and convenient common spaces throughout the property.

A roof top deck on the sixth floor includes resident seating areas and views of the mountains and bay. In addition, there are outdoor lounges on the second, third, and fourth floors, giving residents various options for outdoor access.

DEVELOPMENT TIMELINE

OCT 2017 Site Acquisition

JUNE 2020 Commenced Construction

NOV 2021 Completed Construction

EARLY 2022 Full Occupancy

PROPERT Y AMENITIES Residential Amenities • On-site parking • Community room • Laundry room • Community learning center • Computer lab • Roof deck Environmental Features • LEED Platinum certified • Rooftop PV panels • EV charging stations

TRANSPORTATION STRATEGIES Automobile: 32 spaces Bicycle: 71 spaces Bus: Santa Clara Valley Transportation Authority (VTA) bus stop located 0.2 miles from the site.

FUNDING SOURCES Acquisition Funding: $8 million Provided by Housing Trust, TECH Fund Total Project Cost: $49.4 million Construction Financing: $28 million Wells Fargo loan Permanent Funding: $22.7 million City of Mountain View loan $17.5 million 4% Tax Credits - Investor: Wells Fargo $9.2 million permanent loan from California Community Reinvestment Corporation

UNIT MIX T YPE

UNIT COUNT SQFT

Studio

70

391-403

2 Bedroom

1

700

Luna Vista’s Art work was designed by clients from the Morgan Autism Center