Affordable housing more scarce than ever in Silicon Valley
Source: Mountain View Voice
On Dec. 5, one of Elena Pacheco's biggest fears came true -- she received an eviction notice for the California Street apartment where she has lived for 23 years.
... Pacheco has held out hope -- she's been on a waiting list since 2007. ... But so far, no luck. ... "The waiting lists are so long," said Beth Fraker, communication director for MidPen Housing Corp., which manages nearly 1,000 affordable units in Mountain View. Applicants could be on a wait-list for "a minimum of three years and could be seven years for our family properties."
... Pacheco has noticed all the the new luxury apartments being built in Mountain View, like the "Carmel at the Village" on San Antonio Road and the Madera complex that opened this year at 455 West Evelyn Ave, where rents are as high as $8,000 a month for a two-bedroom apartment. ... "They are building more for the rich community versus the poor community," Pacheco said.
... "The market does a really good job at providing housing for people at middle- and upper-income levels," Zwick said. "In order to get new housing available to people earning below $50,000 a year, which is a tremendous amount of households in the Valley, you need tools."
... Matt Franklin, president of MidPen, said low-wage workers who cannot afford the $2,467 average monthly rent in the county are essential to the future of the Valley but they are being driven out of Santa Clara County.
Read more: http://mv-voice.com/news/2013/12/13/affordable-housing-more-scarce-than-ever
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