HomeMy WebLinkAbout7.1 BRIDGE Housing Affordable Rental Housing Project Unit Reservation and Funding AllocationSTAFF REPORT
CITY COUNCIL
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Agenda Item 7.1
DATE:April 20, 2021
TO:Honorable Mayor and City Councilmembers
FROM:Linda Smith, City Manager
SUBJECT:BRIDGE Housing Affordable Rental Housing Project Unit Reservation and
Funding Allocation
Prepared by: Amy Million, Principal Planner, Kristie Wheeler, Assistant
Community Development Director, and Hazel L. Wetherford, Economic
Development Director
EXECUTIVE SUMMARY:
BRIDGE Housing is seeking to develop a 3.6-acre site located at 6501 Golden Gate Drive within the
Downtown Dublin Specific Plan area. This proposal is in response to the City’s Notice of Funding
Availability for affordable housing and direction received from the City Council after reviewing the
initial proposal on November 17, 2020. The proposed project consists of 308 affordable units to be
built in two phases of 136 units and 172 units, and includes ground floor retail, amenity space, and
parking. The City Council will consider reserving up to 308 units from the Downtown Dublin
Specific Plan Development Pool and related deal points for a Community Benefit Agreement for
the affordable housing project. The City Council will also consider appropriating $7.1 million from
the City’s Affordable Housing Fund and authorizing the commitment of $2.9 million in Alameda
County Measure A-1 Bond funds to BRIDGE Housing for the project.
STAFF RECOMMENDATION:
Adopt the Resolution Appropriating $7.1 Million From the City’s Affordable Housing Fund and
Authorizing the Commitment of $2.9 Million in Alameda County Measure A-1 Funds From Dublin’s
Base City Allocation to BRIDGE Housing, authorize the reservation of up to 308 residential units
from the Downtown Dublin Specific Plan Development Pool, and provide feedback on the
negotiated deal points for a Community Benefit Agreement.
FINANCIAL IMPACT:
Funds contributed to support construction of the proposed affordable rental housing development
would be provided from the City’s Affordable Housing Fund including fees paid to the City by
developers to comply with the City’s Inclusionary Zoning Regulation, and by Alameda County
Measure A-1 Bond funds.
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DESCRIPTION:
Background
On November 17, 2020, the City Council received a report regarding affordable rental housing
proposals that had been received in response to the Notice of Funding Availability (NOFA)issued
by the City in July 2020 (refer to Attachment 2). The two proposals included a 77-unit project
that was part of a larger multi-phase project proposed by BRIDGE Housing at 6501 Golden Gate
Drive and the subject of this Staff Report, and a 121-unit project proposed by Eden Housing at
7922 Dublin Boulevard. The City Council directed Staff to continue to work with BRIDGE Housing
on refinements to their proposal but also consider potential opportunities to provide funding to
both projects. Since that time, Eden Housing has withdrawn their proposal. In addition, the
BRIDGE Housing proposal has changed considerably and now would be 100% affordable.
Proposal
BRIDGE Housing is proposing a two-phase project on a vacant 3.6-acre project site which is
located adjacent to the West Dublin/Pleasanton BART station at 6501 Golden Gate Drive as shown
in Figure 1 below. The property is bound by I-580 to the south, the future 499-unit St. Patrick
Way residential project to the west,Connolly Station residential community to the north, and
Golden Gate Drive to the east.
Figure 1. Project Location
The two-phase project would consist of a total of 308 units. BRIDGE’s NOFA proposal requests
funding for 136 units in Phase A (refer to Attachment 3). Table 1 below provides the mix of
income levels based on a percentage of area median income (AMI)for these units. BRIDGE has
indicated that the remaining 172 units would be 100% affordable and may include moderate-
income units but a detailed affordability matrix has not yet been determined. In addition, BRIDGE
anticipates that 30%of the units in Phase A would be set aside for special needs populations that
could include formerly homeless individuals/families and/or veterans.
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Table 1. Anticipated Affordability Mix for 136 Units
% of Area Median Income (AMI)No. of
Units
20 41
40 15
50 40
60 39
Market Rate (Manager’s Unit)1
Total 136
The subject property is located in the Transit-Oriented District of the Downtown Dublin Specific
Plan (DDSP) as shown in Figure 2.
Figure 2: Transit-Oriented District/Vicinity Map
The DDSP provides a list of permitted uses, development standards and design guidelines for all
development within the Plan area. The DDSP identified a pool of 2,500 residential units that may
be constructed in the DDSP area. A developer must provide a benefit to the community for the use
of these units. Since the establishment of the Development Pool, 1,396 units have been reserved
and/or constructed. There are 1,104 units remaining in the Pool as shown in Table 2 below.
Table 2. DDSP Residential Development Pool
Project Address Units Status
Total Units in Pool 2,500
Connolly Station 7550 St.Patrick Way 309 Approved 2012 –complete
Aster (Bay West) 7544 Dublin Blvd.313 Approved 2013 –complete
Valor Crossing (Eden)6707 Golden Gate Dr.66 Approved 2013 –complete
Trumark Homes 7144 Regional St.60 Approved 2015 –complete
Avesta Development 7601 Amador Valley Blvd.35 Approved 2016 –complete
St. Patrick Way 6700 St. Patrick Way 499 Allocated 2018
Regional Street (Eden)6543 Regional St.114 Reserved July 2020
Total Reserved Units (1,396)
Remaining Units 1,104
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The two-phase BRIDGE project proposes an overall residential density of 85.5 units per acre (308
units/3.6 acres = 85.5 unit/acre), which would exceed the maximum density of 85 units per acre
allowed under the DDSP by two units. In order to achieve this density, the BRIDGE proposal would
rely on a density bonus using State Density Bonus Law. State Density Bonus Law is implemented
through the City’s Density Bonus Ordinance and provides incentives to developers for the
production of housing affordable to lower income households, senior citizens, disabled veterans,
and homeless persons.
The following is an overview of the DDSP Development Standards for the Transit-Oriented District
and a comparison to the proposed project.
Table 3. Overview of DDSP Development Regulations
Development
Regulation Standard Proposed
Density Range 30 to 85 units per acre (108-306
units)308 units
Density Bonus 35% based on min. 20% low income
units (105 density bonus units)
2 units
Building Height 8 floors / 90 feet 5 floors / approx. 65 feet
Setbacks:
Golden Gate Drive
Interior
I-580 Freeway
5 feet min.
15 feet max. (80% of bldg. façade)
5 feet min.
10 feet min.
TBD – conceptual plan only
Parking:
Residential 1.5 spaces per unit / 462 spaces .83 spaces per unit / 253 spaces
plus 2 spaces for employees1
Commercial 1 per 300 SF / 7 spaces 2 spaces1
Guest Parking Up to 15% of required parking 2 spaces
1 Recent changes in State Density Bonus Law allow qualifying projects, as a matter of right, to obtain lower parking
requirements than what would otherwise be required by local government standards. With the passage of
Assembly Bill 2345, a 100% affordable housing project located within ½ mile of an accessible major transit stop is
entitled to a reduced parking requirement of ½ space per unit unless a higher parking ratio is supported by a
parking study. Additionally, the applicant’s proposal includes certain units that serve populations which do not
drive and, thus, reduce the need for parking. The proposed parking is currently under review by Staff.
The applicant has prepared a conceptual site plan and elevations of the proposed project as
viewed from Golden Gate Drive, from the future BART plaza and from the BART platform over
Interstate 580 (refer to Attachment 4). The architectural concept for the development is
contemporary five story buildings with four floors of residential above ground floor parking,
ground floor retail, and amenity space. The conceptual design shows a variety of contemporary
building materials (including cementitious panels, metal panels, awnings and railings, brick
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veneer, and stucco) varying vertical parapet heights, and upper level balconies. The ground level
along Golden Gate Drive and Entry Drive is highlighted with property management offices,
community rooms, and a retail space that fronts the future BART plaza and will help to activate
the streetscape.
Community Benefit Agreement
As previously discussed, there are 1,104 units remaining in the residential development pool for
the downtown. The applicant proposes to utilize 308 units from the Development Pool and must
provide a benefit to the community for the use of these units. (DDSP § 3.5, p. 48; § 6.4, pp. 120-
122.) The DDSP lists a number of potential benefits and indicates that the City Council can approve
other benefits and the community benefit requirement shall, “[s]o far as possible, be uniformly
applied proportionate to the density obtained, while acknowledging that some benefits may be
particularly valuable to the City.” (DDSP § 6.4, pp. 120-122.)
The applicant and Staff have discussed the terms of the proposed Community Benefit Agreement
as follows:
In exchange for the allocation of up to 308 units, the applicant will build an affordable
housing project in two phases. At a minimum, the project will include 136 units that are
affordable to households earning an average of no greater than 43% AMI, and the
remaining 172 units will be 100% affordable and may include moderate income units.
The applicant is also proposing to make the units which are made affordable for homeless
persons, at-risk of becoming homeless persons, and persons with special needs to be fully
furnished with appliances, furniture, and basic kitchenware/dishes.
In addition, the applicant will, upon occupancy of the project, reserve and construct a warm
shell of at least 2,200 square feet of a ground floor café or similar use in the project.
The applicant will also provide plaza enhancements to improve pedestrian access to the
connection of the West Dublin/Pleasanton BART station.
Lastly, any affordable housing credits created by virtue of the construction of affordable
housing for 136 units of the project shall accrue to the City. Any affordable housing unit
credits created by virtue of the construction of the remaining 172 units of the project shall
be shared with the Developer to assist with the financing of the project, if needed. These
credits will be limited to the applicable category from which they are created. If the credits
are not needed to finance the project, then the credits shall accrue to the City. Any credits
the applicant received will not be allowed for use within the DDSP area until the City has
exhausted its own credits.
Funding Commitment
BRIDGE is requesting $10 million in financial assistance for 136 units, or $73,529 per unit. Refer
to BRIDGE Housing’s project description and financing plan in Attachment 3. Keyser Marston
Associates, a real estate advisory firm, reviewed BRIDGE’s funding proposal and concluded that
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the development costs and financing plan are consistent with the experiences of other similar
affordable housing projects that they had recently evaluated and appears reasonable.
Furthermore, the amount of local subsidy that is being requested per unit of development is less
than what is being provided for the other comparable projects that they evaluated. Keyser
Marston’s review is provided in Attachment 5.
Next Steps
Next steps will include preparation of complete applications for a Site Development Review
Permit and Tentative Parcel Map for consideration and action by the Planning Commission. A
Community Benefit Agreement will be brought forward to the City Council for consideration after
the Planning Commission takes action on the entitlements.
ENVIRONMENTAL DETERMINATION:
The action before the City Council is not subject to the requirements of the California
Environmental Quality Act (CEQA) as it does not have the potential to result in a direct physical
change in the environment or a reasonably foreseeable indirect change in the environment and,
thus, does not meet the definition of a project under CEQA Guidelines Section 15378. Future
applications for a Site Development Review Permit and Tentative Parcel Map for the proposed
project would be subject to CEQA prior to consideration and action by the Planning Commission.
STRATEGIC PLAN INITIATIVE:
Strategy 3: Create More Affordable Housing Opportunities
Objective A: Facilitate production of affordable housing for lower income seniors, workforce and
special needs households by leveraging the Alameda County Measure A-1 Bond funds
and the City’s Affordable Housing Fund.
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
Although a public notice is not required, the City mailed a notice to all property owners and
occupants within 300 feet of the proposed project. A public notice was published in the East Bay
Times and posted in the designated posting places. A copy of this Staff Report was provided to the
applicant and was made available on the City’s website.
ATTACHMENTS:
1) Resolution Appropriating $7.1 Million From the City’s Affordable Housing Fund and
Authorizing the Commitment of $2.9 million in Alameda County Measure A-1 Funds From
Dublin’s Base City Allocation to BRIDGE Housing
2) November 17, 2020 City Council Staff Report
3) BRIDGE Housing Project Description and Financing Plan
4) Preliminary Site Plan and Conceptual Architecture
5) Keyser Marston Associates Memorandum
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Attachment 1
Reso. No. XX-21, Item X.X, Adopted XX/XX/21 Page 1 of 2
RESOLUTION NO. XX – 21
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
APPROPRIATING $7.1 MILLION FROM THE CITY’S AFFORDABLE HOUSING FUND AND
AUTHORIZING THE COMMITMENT OF $2.9 MILLION IN ALAMEDA COUNTY MEASURE A-
1 FUNDS FROM DUBLIN’S BASE CITY ALLOCATION TO BRIDGE HOUSING
WHEREAS,in November 2016, Alameda County voters passed a $580 million
Countywide Housing Bond (Measure A-1), which will fund countywide affordable housing
development programs; and
WHEREAS,$425 million of the Countywide Housing Bond is allocated to the Rental
Housing Development fund to assist in the creation and preservation of affordable rental
housing for vulnerable populations, and of that $225 million is allocated as “Base City
Allocation;” and
WHEREAS,the City of Dublin’s Base City Allocation is $7.9 million; and
WHEREAS,on July 17, 2020, the City of Dublin issued a Notice of Funding Availability
(NOFA) for the creation of affordable rental housing and encouraged qualified affordable
housing developers that meet the NOFA requirements to submit proposals; and
WHEREAS,$10 million in funding is available, including $7.1 million from the City’s
Affordable Housing Fund and $2.9 million in Measure A-1 bond funds, to support
predevelopment, acquisition and construction of affordable rental housing; and
WHEREAS,BRIDGE Housing submitted a NOFA proposal to develop a two-phase
project on a vacant 3.6-acre project site is located adjacent to the West Dublin BART station at
6501 Golden Gate Drive with a total of 308 affordable rental units and requested $10 million in
financial assistance for 136 affordable rental units of the overall project.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin
authorizes the appropriation of $7.1 million from the City’s Affordable Housing Fund to BRIDGE
Housing for the development of 136 affordable rental units; and
BE IT FURTHER RESOLVED that the City Council of the City of Dublin authorizes
the commitment of up to $2.9 million in Measure A-1 bond funds from Dublin’s Base City
Allocation to BRIDGE Housing for the development of 136 affordable rental units; and
BE IT FURTHER RESOLVED that the City Council of the City of Dublin authorizes the
City Manager to submit to the Director of the Alameda County Housing and Community
Development the recommendation of commitment of Base City Allocation funds to the
affordable housing project as described above.
PASSED, APPROVED AND ADOPTED this 20th day of April 2021, by the following vote:
AYES:
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Reso. No. XX-21, Item X.X, Adopted XX/XX/21 Page 2 of 2
NOES:
ABSENT:
ABSTAIN:
______________________________
Mayor
ATTEST:
_________________________________
City Clerk
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STAFF REPORT
CITY COUNCIL
DATE: November 17, 2020
TO: Honorable Mayor and City Councilmembers
FROM: Linda Smith, City Manager
SUBJECT: Affordable Rental Housing Funding Proposal
Prepared by: Kristie Wheeler, Assistant Community Development Director
EXECUTIVE SUMMARY:
The City Council will receive a report and select a project to receive funding as part of
the City’s Notice of Funding Availability to construct affordable rental housing. The two
proposals under consideration are: a 77-unit project that is part of a larger multi-phase
project proposed by BRIDGE Housing at 6501 Golden Gate Drive, and a 121-unit
project proposed by Eden Housing at 7922 Dublin Boulevard. An initial review of the two
proposals has been completed and Staff is seeking City Council concurrence with the
preliminary selection.
STAFF RECOMMENDATION:
Receive the report and provide direction on the selection of an affordable rental housing
project.
FINANCIAL IMPACT:
Funds contributed to support construction of the proposed affordable rental housing
development would be provided from the City’s Affordable Housing Fund including fees
paid to the City by developers to comply with the City’s Inclusionary Zoning Regulation,
and by Alameda County Measure A-1 Bond funds.
DESCRIPTION:
In July 2020, the City issued a Notice of Funding Availability (NOFA) for the creation of
affordable rental housing in Dublin (Attachment 1). Approximately $10.0 million in
funding is available to support predevelopment, acquisition, and construction of
affordable rental housing. These funds would be allocated from the City’s Affordable
Housing Fund and Alameda County A-1 Bond funds allocated to projects in Dublin. The
funding is intended to help fill the financing gap between a project’s total development
cost and other available financing sources. Funding is limited to capital costs only; no
financing is available to fund operating subsidies or supportive services.
Attachment 2
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Qualified affordable housing developers meeting the NOFA requirements and
demonstrating their ability to finance, design, build and manage affordable rental
housing were encouraged to submit proposals. Eligible projects must be new
construction rental development and target extremely-low-, very-low- and/or low-income
households earning up to a maximum of 80 percent area median income (AMI).
Proposals
The City received proposals from BRIDGE Housing and Eden Housing for projects
within the Downtown Dublin Specific Plan (DDSP) area. A brief summary of each
proposal is provided below.
BRIDGE Housing
BRIDGE is proposing a multi-phase project on a vacant 3.6-acre BART-owned property
located adjacent to the West Dublin BART station at 6501 Golden Gate Drive
(Attachment 2). The project would consist of a total of 334 units of which 77 units
(Phase 1A) are the subject of BRIDGE’s NOFA proposal. The unit mix would include a
combination of studios, one-bedroom, two-bedroom, and three-bedroom units, with 35
units affordable to households earning up to 30 percent AMI, 41 units up to 40 percent
AMI, and one manager’s unit. In addition, BRIDGE anticipates that 30 percent of Phase
1A (23 units) would be set aside for special needs populations that could include
formerly homeless individuals/families and/or veterans. BRIDGE is requesting $8.5
million in financial assistance, or $110,390 per unit.
The multi-phase BRIDGE project proposes an overall residential density of 93 units per
acre (334 units/3.6 acres = 93 unit/acre), which would exceed the maximum density of
85 units per acre allowed under the DDSP. In order to achieve this density, the BRIDGE
proposal would rely on a density bonus using State Density Bonus Law. State Density
Bonus Law is implemented through the City’s Density Bonus Ordinance and provides
incentives to developers for the production of housing affordable to lower income
households, senior citizens, disabled veterans, and homeless persons. Projects that
provide 11 percent of the overall project density as very low-income units are entitled to
a density bonus of 35 percent. Phase 1A represents 23 percent of the overall project
(77 units out of 334 units) and would be affordable to households earning an average of
35 percent AMI. Therefore, the project would be entitled to a density bonus of 35
percent, which equates to an additional 107 units. The current proposal includes a
density bonus of only 28 units. However, in discussions with BRIDGE they have
expressed an interest in the ability to consider a density bonus of up to 91 units as they
refine their financing and development proposal. In addition, the project would likely
take advantage of parking reductions and/or concessions allowed under State Density
Bonus Law, which would be analyzed when a development proposal is submitted.
The following is a summary of BRIDGE’s proposal:
No.
Units Unit Type Level of
Affordability Parking Ratio No. Levels
Phase
1A 77
Affordable
except
manager’s
unit)
35% AMI
average
0.8 spaces/unit
(62 spaces) 6 (1 parking)
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No.
Units Unit Type Level of
Affordability Parking Ratio No. Levels
Phase
1B 75 Affordable TBD 1.06 spaces/unit
(80 spaces) 6 (1 parking)
Phase 2 182 Market
Rate NA 1.67 spaces/unit
(304 spaces) 7 (2 parking)
Total 334
1.33
spaces/unit
(446 spaces)
Eden Housing
Eden Housing is proposing 121 units on 1.45 acres located at 7922 Dublin Boulevard,
which is currently occupied by Video Only (Attachment 3). The unit mix would include a
combination of studios, one-bedroom, two-bedroom, and three-bedroom units, with five
units affordable to households earning up to 20 percent AMI, 27 units up to 45 percent
AMI, 64 units up to 50 percent AMI, 24 units up to 60 percent AMI, and one market-rate
manager’s unit. The proposed project includes 83 units per acre (121 units/1.45 acres =
83 unit/acre), which would comply with the DDSP maximum allowed density of 85 units
per acre. In addition, the project would likely take advantage of parking reductions
and/or concessions allowed under State Density Bonus Law, which would be analyzed
when a development proposal is submitted. Additionally, the DDSP does require ground
floor retail along Dublin Boulevard which was not incorporated into Eden’s initial
proposal. Eden is requesting $8.0 million in financial assistance, or $66,116 per unit.
The following is a summary of Eden’s proposal:
No.
Units Unit Type Level of
Affordability Parking Ratio No. Levels
One
Phase 121
Affordable
(except
manager’s
unit)
49% AMI
average
1.04 spaces/unit
(126 spaces) 5 (1 parking)
Next Steps
Staff has completed an initial review of the two proposals and found that both meet the
minimum requirements of the NOFA. BRIDGE and Eden both have exemplary
experience completing affordable rental housing projects of similar size and complexity
as proposed, and proven track records collaborating with public agencies, maintaining
positive cash flow and compliance with regulatory agreements, and providing quality on-
site management. In addition, BRIDGE and Eden both have extensive experience with
institutional and private financing that includes conventional construction and permanent
loans, tax exempt bonds, and low-income tax credits.
Staff is preliminarily recommending that the City Council appropriate funds to BRIDGE’s
proposal. This recommendation is based on the following key points:
• Phase 1A would include deep affordability levels serving households earning an
average of 35 percent AMI.
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• Thirty percent of Phase 1A would be set aside to provide housing for special
needs populations including formerly homeless individuals/families and/or
veterans.
• Phase 1B, which is not requesting NOFA funds, would include 75 affordable units,
increasing the overall affordability of the multi-phase project to 45 percent. The
City’s financial assistance provided for Phase 1A and the proposed market-rate
units proposed in Phase 2 would help make Phase 1B financially feasible.
Averaged across Phases 1A and 1B, the City’s financial assistance would be
$55,921 per unit.
• The project site has immediate access to BART and bus service and is in close
proximity to local services such as grocery stores, banks and restaurants.
• The project offers opportunities for shared parking by utilizing the 750-space
BART parking garage for evening and weekend parking of project residents.
• BRIDGE proposes to design, construct, and maintain a plaza where the BART
pedestrian overcrossing lands adjacent to the subject property.
• If desired, BRIDGE could accommodate a small retail component, likely a café
fronting on Golden Gate Drive, that could serve residents and commuters.
If the City Council concurs with this recommendation, Staff would continue to work with
BRIDGE to refine their proposal and address any concerns raised by the City Council.
Next steps would include returning to the City Council with a formal recommendation
and requests to authorize the City Manager to execute an agreement with BRIDGE
Housing and allocate units from the DDSP residential pool. Future entitlements would
include a Site Development Review Permit and Tentative Parcel Map, which would
require review and approval by the Planning Commission.
STRATEGIC PLAN INITIATIVE:
Strategy 3: Create More Affordable Housing Opportunities.
Strategic Objective 3A: Facilitate production of affordable housing for lower income
seniors, workforce and special needs households by leveraging the Alameda County
Measure A-1 Bond funds and the City’s Affordable Housing Fund.
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
None.
ATTACHMENTS:
1. Notice of Funding Availability
2. BRIDGE Project Description
3. Eden Project Description
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City of Dublin—Notice of Funding Availability – July 2020 Page 1
CITY OF DUBLIN AFFORDABLE
HOUSING FUNDS FOR
RENTAL HOUSING DEVELOPMENT
NOTICE OF FUNDING AVAILABILITY (NOFA) AND
REQUEST FOR PROPOSALS (RFP)
Proposal Due:
September 18, 2020 by 5:00 p.m.
City Contact:
Jim Bergdoll, Senior Planner, jim.bergdoll@dublin.ca.gov, 925-833-6618
All inquiries and/or questions shall be submitted no later than September 6, 2020
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City of Dublin—Notice of Funding Availability – July 2020 Page 2
Table of Contents
I. INTRODUCTION ......................................................................................................................... 3
Funding Sources............................................................................................................................ 3
Eligible Applicants........................................................................................................................ 3
Eligible Projects and Threshold Criteria ....................................................................................... 3
Sites Under Consideration Separately .......................................................................................... 4
Review of Proposals and Project Selection Process ..................................................................... 4
City Financial Participation .......................................................................................................... 5
Compliance Monitoring Fee ......................................................................................................... 5
Legal Fees ..................................................................................................................................... 6
Insurance Requirements ................................................................................................................ 6
II. EVALUATION AND SELECTION .............................................................................................. 6
Project Selection Criteria .............................................................................................................. 6
III. SUBMITTAL REQUIREMENTS ................................................................................................. 7
Cover Letter .................................................................................................................................. 7
Development Entity ...................................................................................................................... 7
Experience..................................................................................................................................... 7
Description of Proposed Project Concept ..................................................................................... 7
Financing Plan and Proforma ........................................................................................................ 8
Evidence of Site Control ............................................................................................................... 8
Preliminary Title Report ............................................................................................................... 9
Project Schedule ............................................................................................................................ 9
IV. SUPPLEMENTAL MATERIALS ................................................................................................ 9
Applicant’s Financial Statements ................................................................................................. 9
Residential Services Plan .............................................................................................................. 9
Phase I Environmental Assessment for Project Site ..................................................................... 9
Community Outreach Plan ............................................................................................................ 9
Appraisal ....................................................................................................................................... 9
IV. PROPOSAL PROCESS ............................................................................................................... 10
Proposal Submittal ...................................................................................................................... 10
Pre-Proposal Meeting.................................................................................................................. 10
Proposal Process Timeline .......................................................................................................... 11
Public Record .............................................................................................................................. 11
Right to Reject Proposals ............................................................................................................ 11
V. BACKGROUND RESOURCES .................................................................................................. 11
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City of Dublin—Notice of Funding Availability – July 2020 Page 3
CITY OF DUBLIN
NOTICE OF FUNDING AVAILABILITY (NOFA)
REQUEST FOR PROPOSALS (RFP)
I. INTRODUCTION
The City of Dublin (City) is announcing a Notice of Funding Availability (NOFA) for the creation
of affordable rental housing in Dublin. Approximately $10 million in funding is available to
support predevelopment, acquisition and construction of affordable rental housing. The funding is
intended to help fill the financing gap between a project’s total development cost and other
available financing sources. The funding available through this NOFA is for capital costs only; no
financing is available to fund operating subsidies or supportive services. The City may choose to
recommend the project(s) selected through this NOFA for funding from Alameda County Measure
A-1 Bond funds for all or part of the total amount awarded.
Qualified affordable housing developers/project sponsors (Applicants) that meet the NOFA
requirements and demonstrate their ability to finance, design, build and manage affordable rental
housing are encouraged to submit proposals. All proposals must be received by September 18,
2020. Funding will be awarded by the City on a competitive basis to the project(s) that provide the
best opportunity to address the City’s affordable housing needs. The City will request that
Applicants submit additional information after initial selection. Also, the City reserves the right to
suspend, amend or modify the provisions of this NOFA, to reject all proposals, to negotiate
modifications of proposals, or to award less than the advertised amount of funding available.
Funding Sources
Funding for this NOFA will be provided from one or more of the following sources:
• City Affordable Housing Fund comprised of fees paid to the City by developers to comply
with the City’s Inclusionary Zoning Regulations; and
• Alameda County Measure A-1 Bond funds (Dublin Base City Allocation).
These funds may also be supplemented with other grant funds that the City is successful in securing
to support affordable housing.
Eligible Applicants
Eligible Applicants include nonprofit and for-profit housing developers. Applicants must have
demonstrated experience and capacity in the development and management of affordable rental
housing. Applicants should have experience completing affordable rental housing projects of
similar size and complexity as the proposed project.
Eligible Projects and Threshold Criteria
Each Applicant is permitted to submit only one project application for this NOFA.
• Projects must be new construction rental developments.
• Mixed-use projects (containing both residential and nonresidential space) are eligible.
Generally, for mixed-use projects, the residential space should be a minimum of two- thirds
of the gross square footage of the development. The non -residential component of the
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City of Dublin—Notice of Funding Availability – July 2020 Page 4
project must be self-supporting.
• Site control as defined in Section III-6, Site Control below;
• Proposed units must remain affordable for at least 55 years;
• Reasonable acquisition and construction costs; the ability to compete well in securing
other/competitive funding sources, including, but not limited to: County (Measure A-1
Bond funds), state and federal sources, Low-Income Housing Tax Credits (LIHTC),
private equity, and be soundly underwritten;
• Leverage other financing sources;
• Incorporate high quality design and amenities and properly integrate with neighborhood
scale, massing and setting and will be subject to a Site Development Review Permit;
• Incorporate appropriate community spaces, amenities and services for the target
population;
• Applicant must have demonstrated experience with successful affordable housing projects,
the ability to timely secure funding sources that minimizes the City’s contribution of local
funds, and the capacity to work cooperatively with the community in the design and
development of the project;
• Target extremely low-income, very low-income, and/or low-income households earning
up to a maximum of 80 percent of Area Median Income (AMI);
• Projects must meet all criteria established by Alameda County Department of Housing
and Community Development (HCD) to qualify for Alameda County Measure A-1
Bond funds, including providing no less than 20 percent of all units developed within
the project serving households earning no more than 20 percent of AMI;
• Consider a range of household/individual types, including veterans, seniors, disabled,
special needs, and at risk of homelessness; and
• Include supportive services appropriate for the expected tenant population as an integral
component of the project.
The ability to satisfy these criteria is in no manner whatsoever a guarantee of project funding, and
the City reserves the right in its sole and absolute discretion to modify or waive any of these
threshold requirements without further notice to proposers or potential proposers.
Sites Under Consideration Separately
The two sites noted below have previously been identified for affordable housing. The purpose of
this current NOFA is to receive proposals for other sites which are feasible for development.
• 6513 Regional Street at St. Patrick Way in Downtown Dublin – 1.3 acres
• Transit Center Site D-1 at Martinelli Way and Iron Horse Parkway – +/-1 acre
Review of Proposals and Project Selection Process
City staff will review all proposals submitted that meet the NOFA requirements. Proposals will be
evaluated based on the Applicant and Project Selection Criteria under Section II below. Proposals
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that receive favorable staff review will be presented to the City Council, with staff’s funding
recommendation, for further consideration and for a final funding decision. Once the City Council
has made a final decision, staff will begin negotiation of loan documents with the selected
Applicant(s).
City Financial Participation
At the City’s sole discretion, and depending upon the financial need of the project and applicable
project selection criteria responses, the City may generally provide a capital contribution, which
may be in the form of a 55-year loan (City Loan) with an interest rate of three percent simple-
interest. The selected Applicant(s) must provide adequate security for any predevelopment
component of the City Loan, including but not limited to assignment of the purchase agreement
and plans and specifications. Any City Loan will be secured by a promissory note and recorded
trust deed (Deed of Trust) and will be conditioned upon additional security in the form of a recorded
rent regulatory agreement, a notice of affordability restrictions and any additional security the City
may require. City Loans may not be used to fund operating subsidies or supportive services.
Any Deed of Trust for the City Loan may initially be recorded in second lien position junior to any
private lender acquisition/construction trust deed, and further may be subordinated to other state or
federal public agency financing if required by law. The City anticipates that the selected
Applicant(s) may be required to start construction within two (2) to three (3) years from the date
the Loan Agreement is executed (depending on the project details and subject to the City’s
discretion) or the Applicant(s) would risk losing the City’s funding commitment.
Predevelopment Loan: Depending on the schedule for the project, the City may decide to issue a
preliminary predevelopment loan pursuant to a Predevelopment Loan Agreement. As security for
a preliminary predevelopment loan, the selected Applicant(s) would be required to assign to the
City its rights and obligations, including but not limited to, with respect to certain agreements
(including purchase agreement), plans and specifications and approvals. If the project is proceeding
and subsequent financing is approved, the preliminary predevelopment loan would be rolled into
the subsequent City Loan. If the project proves infeasible, the preliminary predevelopment loan
may be forgiven in certain circumstances, as determined by the City, and otherwise pursuant to the
terms of the Predevelopment Loan Agreement.
Predevelopment Costs: Predevelopment costs are upfront project costs necessary to determine
project feasibility and include costs of an initial feasibility study, consulting fees, legal fees,
architectural and engineering fees, soil and environmental review services, and other upfront
expenses incurred during the preconstruction phase. Predevelopment costs do not include option
deposits to acquire site control.
Compliance Monitoring Fee
The City charges an annual Compliance Monitoring Fee to cover the cost of monitoring compliance
with City Agreements for the term (55 years) of the City Loan. Based on the City of Dublin adopted
2020-21 Master Fee Schedule, the annual fee is $2,058 for projects between 21 and 100 units and
$2,964 for projects with 101+ units adjusted annually per the Consumer Price Index.
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Legal Fees
Legal fees, including the cost of the City Attorney, incurred by the City during the negotiation and
execution of loan documents, including both the predevelopment loan and the construction loan
will be paid directly by the Applicant(s).
Insurance Requirements
The selected Applicant(s) will be required to comply with the City’s insurance requirements,
consistent with affordable multifamily insurance standards. Comprehensive detail about the City’s
insurance requirements will be provided upon request.
II. EVALUATION AND SELECTION
Project Selection Criteria
Applicants who submit proposals that meet the requirements of this NOFA will be evaluated
according to the criteria below.
1. Applicant Qualifications, Experience and Management of Affordable Rental Housing
a. Experience completing affordable rental housing projects of similar size and complexity as
the proposed project on time and within budget. Preference will be given to those with
demonstrated knowledge;
b. Positive track record for collaborative negotiations with public agencies (as demonstrated
by references);
c. Track record of positive cash flow and compliance with regulatory agreements, property
reserves and property management standards for existing projects; and
d. Quality and track record of on-site management of rental properties, including ongoing
upkeep and maintenance of the property, availability of conflict resolution programs, and
highly trained on-site managers that maintain a crime-free, healthy and safe environment.
2. Applicant Financial Capability and Economic Feasibility of Project
a. Applicant financial strength and track record in securing the proposed financing;
b. Source and amount of equity contributions and other sources of funding;
c. Degree of leveraging of affordable housing funds;
d. Track record in securing nine percent LIHTC, four percent LIHTC, project-based housing
vouchers, or other major funding; and
e. Per unit subsidy of affordable housing funding request (lower the better).
3. Public Benefit and Response to City’s Housing Priorities
a. Project has housing units that address households with special needs (e.g., seniors, disabled,
homeless);
b. Project has supportive services and has identified funding to provide for such services;
c. Applicant has proven success at gaining community support for affordable housing projects
and remaining sensitive to concerns throughout operations; and
d. Quality of the proposed structures. Attention to enhancing the quality of life for the future
occupants and design compatibility with surrounding neighborhood.
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4. Site Appropriateness
a. Project site has easy access to public transportation and relevant local services and
amenities, such as parks, medical services, fresh foods, schools, etc.; and
b. Project is consistent with the site’s General Plan and/or Specific Plan land use designation
and zoning. In cases where the land use designation and/or zoning would require an
amendment, applicant can demonstrate that the project warrants an amendment to land use
and zoning designations and is compatible with surrounding land uses.
5. Completeness, Accuracy, and Quality of Proposal and Budget
This includes an overall evaluation of the proposal itself, as evidence of the Applicant’s
understanding of the project’s purpose and objectives, knowledge of the field, and ability to
prepare concise reports and budgets. It also includes the completeness, accuracy and quality of
an Applicant’s response to questions regarding the proposal.
III. SUBMITTAL REQUIREMENTS
1. Cover Letter
Provide a brief summary of the proposed project and discuss Applicant’s qualifications, why
Applicant is uniquely qualified to merit the City’s investment, and why Applicant’s proposal
should be selected for funding.
Maximum length: two pages
2. Development Entity
a. Identify the entity with the legal authority to contract directly with the City, including all
joint ventures/limited partners and their percentage ownership interest (if applicable);
b. Include resumes of key individuals and their roles; and
c. Identify person who has the legal authority to enter into a contractual agreement with the
City on behalf of the Applicant.
Maximum length: five pages
3. Experience
a. Provide evidence of past project experience, particularly with developing affordable
housing rental projects. For at least three (3) projects include: a brief narrative description
of the project, the Applicant's role, the cost of the project, amounts and sources of funds
used to finance the project, the date the project was completed, financial statements for the
three most recent years of each projects operations, and indicate if the project was completed
on time and within budget; and
b. For each of the projects identified above for experience, provide a reference with the city or
agency including name, email address and phone number.
Maximum length: 24 pages
4. Description of Proposed Project Concept
a. Provide a written description of the proposed project, scale of development (number
stories), type of construction, size, use of proposed tenants of commercial component (if
applicable), occupancy restrictions, number and size of units, number of parking spaces,
and type of amenities;
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b. Provide basic site information such as property address, Assessor’s Parcel Number, square
footage, existing uses, current General Plan land use designation and zoning, and indicate
if the proposed project is consistent with the existing General Plan land use designation and
zoning, or if a General Plan Amendment and Rezoning are required;
c. Describe the property location, neighborhood, transportations options, local services and
amenities (full-service grocery store, neighborhood park, pharmacy, medical facility,
schools, etc.) within close proximity to the site (include distance, e.g., ¼ mile, ½ mile);
d. Provide a graphic depiction of the proposed project consisting of a preliminary site plan and
conceptual architecture. Overly detailed architectural renderings or glossy material are
discouraged in response to this NOFA; and
e. Describe how the project will be managed. Also, provide a list of rental projects that are
currently under the company’s management. Include each property’s location, number of
units and number of affordable units.
Maximum length: five pages
5. Financing Plan and Proforma
Provide a narrative description of the proposed method of financing the proposed project
including all sources of debt and equity. In the case of a proposed tax credit project, identify the
assumed tax credit pricing/cents on the dollar projected in the proposed project’s sources and
uses. Given the competitive nature of many of the available county, state and federal funding
programs, the narrative should describe the Applicant's approach to alternative financing
scenarios as a contingency to the preferred plan.
The proposal should also include a complete preliminary financing proforma of the proposed
project including:
a. Total development cost budget, itemized for each component of the project, identifying
predevelopment costs, estimates of land acquisition and site preparation costs (if
applicable), direct construction costs (for each component) and all indirect and financing
costs, including developer fee, construction escalation, design contingency, and
construction contingency of no less than 10 percent; and
b. A complete sources and uses of funds table for both construction and permanent financing
for each component of the project. The table should clearly indicate the amount of requested
affordable housing financial assistance and the proposed repayment terms of such
assistance.
Maximum length: three pages
6. Evidence of Site Control
At the time of proposal submission, the Applicant must show that if the proposal is selected,
site control can be maintained until the property can be acquired. As evidence of site control,
one of the following documents must be submitted with the application:
a. Purchase agreement, including evidence that the agreement is for a term that is sufficient to
hold the property until the anticipated date of purchase;
b. Option to purchase or lease, binding on seller or landlord, including evidence that options
are renewable until the anticipated date of purchase;
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c. Executed land sales contract or other enforceable agreement for acquisition;
d. Letter of Intent to purchase, signed by both buyer and seller, indicating commitment to
execute purchase or option agreement pending Applicant selection by City; or
e. Other evidence that Applicant has site control acceptable by the City.
7. Preliminary Title Report
A preliminary title report dated within 30 days of the application deadline.
8. Project Schedule
A preliminary project schedule identifying the estimated date of achieving key milestones
including: securing of all financing commitments, acquisition of the site, start of construction,
completion of construction, and lease-up and stabilization of residential and commercial
operations (if applicable). Project schedule should start within 30 days of date the Applicant’s
project is selected.
IV. SUPPLEMENTAL MATERIALS – NOT REQUIRED INITIALLY
Additional materials that may be required at a later date for NOFA finalists:
1. Applicant’s Financial Statements
The most recent two years’ audited financial statements of the Applicant and each proposed
development entity/joint venture partner, if applicable.
2. Residential Services Plan
A plan that describes services to be provided to tenants (childcare, computer training, etc.) and
demonstrates how supportive services for the tenant population will be provided and funded.
The plan should also show funding sources.
3. Phase I Environmental Assessment for Project Site
Applicants may be required to provide a copy of the completed Phase I Environment Assessment
prepared by a qualified environmental firm.
4. Community Outreach Plan
A plan for conducting community outreach to neighbors of the proposed project and community
groups may be required. The outreach plan should discuss any anticipated community concerns
and how they would be handled.
5. Appraisal
An appraisal of the project site may be required that has been completed within six months of
the application deadline. All appraisers must be California State licensed/certified.
6. Project Cashflow Projection
Project income and project operating expenses, including rents for each unit type, vacancy rate,
operating expenses, debt service, and all distributions of remaining cash flow (15-year
projection with assumptions for out-year escalations). The table should clearly detail
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City of Dublin—Notice of Funding Availability – July 2020 Page 10
assumptions on rents for all unit types including utility allowance factors and other sources of
income.
7. Mixed-Use Budget
For mixed-use projects, a development budget will be required with the costs attributable to the
commercial/retail or other nonresidential component clearly delineated from those for the
residential component.
8. Project Sustainability Plans
Plans may be requested for reduction of negative impacts on the environment through principles
and practices that reduce consumption water and non-renewable energy, and minimize waste
and negative impact to the environment
IV. PROPOSAL PROCESS
Proposal Submittal
Proposals are due on Friday, September 18, 2020, by 5:00 p.m. and must include:
• Hard copies: One (1) original and three (3) copies of complete proposal; and
• Electronic copy: All proposal materials must also be submitted on a USB flash drive or via
Dropbox. The sources and uses of the proforma, operating proforma and any other budget
spread sheet must be submitted in Excel format.
Deliver to
City of Dublin, Community Development Department
Attn.: Housing Division
100 Civic Plaza
Dublin, CA 94568
HousingInfo@dublin.ca.gov
Inquiries/Questions
All inquiries and/or questions regarding this NOFA must be submitted no later than September 6,
2020, and directed to:
Jim Bergdoll, Senior Planner, at jim.bergdoll@dublin.ca.gov or (925) 833-6610
Pre-Proposal Meeting
Applicants are encouraged to attend a Pre-Proposal meeting on this NOFA:
Date: August 4, 2020
Time: 3:00 p.m.
Location: Due to the on-going COVID-19 health crisis, the Pre-Proposal meeting will be held
via Zoom Video Communications. Please contact Jim Bergdoll at the e-mail address noted
above by noon August 3, 2020, to receive a link to the meeting.
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City of Dublin—Notice of Funding Availability – July 2020 Page 11
Proposal Process Timeline
The tentative timeline for evaluating and selecting proposals is presented below:
NOFA SCHEDULE
EVENT DATE
NOFA Released July 17, 2020
Pre-Proposal Meeting August 4, 2020
Proposals Due September 18, 2020,
5:00 p.m.
Initial Review of Proposals Completed October 9, 2020
Additional Materials Due from Finalist(s) October 30, 2020
Applicant Interviews, if necessary November 2020
City Council Consideration of Applicant Selection December 2020
Loan, Regulatory Agreements, Negotiation, Securing
of A-1 Bond Funds
Spring 2021
Public Record
Under the California Public Records Act (PRA), ALL DOCUMENTS SUBMITTED IN
RESPONSE TO THIS NOFA ARE CONSIDERED PUBLIC RECORDS AND WILL BE MADE
AVAILABLE TO THE PUBLIC UPON REQUEST, unless withheld from disclosure for the
City’s sole and exclusive benefit pursuant to an exception to disclosure under the PRA or other
applicable law. Please do not include confidential information or information that may violate the
privacy or intellectual property rights of a third party.
Right to Reject Proposals
The City reserves the right to reject any and all proposals for any reason, and at its sole discretion.
The City reserves the right to alter the guidelines in the NOFA at any time, at its discretion.
V. BACKGROUND RESOURCES
1. City of Dublin General Plan: https://dublin.ca.gov/171/General-Plan
2. Housing Element 2015-23: https://dublin.ca.gov/1516/Housing-Element
3. Eastern Dublin Specific Plan: https://dublin.ca.gov/DocumentCenter/View/7776/EDSP-
2016-Update-Full-PDF?bidId=
4. Downtown Dublin Specific Plan:
https://dublin.ca.gov/DocumentCenter/View/7859/Amended_DDSP_Dec_2019?bidId=
5. Interactive GIS Portal: https://gis.dublin.ca.gov/Html5Viewer/
6. Dublin Development Activity: https://dublin.ca.gov/174/Development-Activity
3558099.1
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PROJECT DESCRIPTION
Provide a written description of the proposed project, scale of development (number
stories), type of construction, size, use of proposed tenants of commercial component (if
applicable), occupancy restrictions, number and size of units, number of parking spaces,
and type of amenities;
We are proposing a phased master plan on 3.7 acres adjacent to the West Dublin BART
station. The initial plan includes three phases with the following attributes:
Phase 1 Affordable 77 units 62 parking spaces 6 levels (1 pkg)
Phase 2 Affordable 75 units 80 parking spaces 6 levels (1 pkg)
Phase 3 Market Rate 182 units 304 parking spaces 7 levels (2 pkg)
Total 334 units 446 parking spaces
The attached conceptual site plan shows detail detailed data including the unit mix, unit
sizes, and size of amenities for each building. BRIDGE has just had preliminary design
work done and plans to implement some design changes that will increase financial
feasibility and unit count.
Affordability in Phase 1a will have a range of incomes and rents with an average
affordability of 35% in order to be competitive for MHP funds from CA HCD, and also
be compliant with Alameda Count A-1 funds. We anticipate a 30% set-aside for a special
needs population that could include formerly homeless individuals/families and/or
veterans. We will include a service enriched environment for this population to help
insure their success, and will provide resident services to the entire building in order to
build community and foster personal, financial and educational growth. We are open to
discussing the specifics of this population with the City of Dublin to better meet local
needs and housing goals. Phase 2 affordability is not yet determined, but will likely also
include a similar mix of affordability.
Amenities for the affordable phases will include common areas (both indoor and on the
courtyard podium deck), counseling suites, recreational facilities, play areas, BBQ areas,
and secure parking. Parking will be provided in the ground level garage in mechanical
lifts. The site plan provides individual stoops, building lobbies, and amenities on Lane
A, Entry Drive and Golden Gate Drive to help create a pedestrian streetscape and
reinforce the emerging neighborhood. Private open space will be provided on the second
level courtyard in each building. We propose to build a LEED Silver buildings or the
equivalent Green Point Rating. All buildings will include transit reader boards in the
lobbies to promote transit ridership.
Market rate units in Phase 2 will include a more robust amenity package commensurate
with market requirements.
Provide basic site information such as property address, Assessor’s Parcel Number,
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square footage, existing uses, current General Plan land use designation and zoning, and
indicate if the proposed project is consistent with the existing General Plan land use
designation and zoning, or if a General Plan Amendment and Rezoning are required;
The property is located at 6501 Golden Gate Drive listed by Alameda County as parcel
numbers 941-2842-4 and 941-2842-2. The site is approximately 3.77 acres and within the
Downtown Dublin Zoning District and will be consistent with the Downtown Dublin
Specific Plan and applicable state density bonus laws.
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3
Describe the property location, neighborhood, transportations options, local services and
amenities (full-service grocery store, neighborhood park, pharmacy, medical facility,
schools, etc.) within close proximity to the site (include distance, e.g., ¼ mile, ½ mile);
The property is located directly adjacent to the West Dublin BART station, and is one of
the last remaining vacant parcels near BART. This location is the foundation to a
sustainably developed mixed-income community. This location is very well positioned to
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provide rich transportation options, and robust local and neighborhood amenities. The
chart below outlines the distances to the various community amenities that residents will
have close access to;
a. Provide a graphic depiction of the proposed project consisting of a preliminary site plan
and conceptual architecture. Overly detailed architectural renderings or glossy material
are discouraged in response to this NOFA;
Attached is a preliminary architectural site plan and data table describing the project
phasing, unit mix, size of amenities, and proposed parking. We have not presented
conceptual architecture at this early stage, but would be happy to provide some precedent
images showing architectural themes, materials and details that could begin to describe
proposed architecture at Golden Gate Drive. This initial site plan does provide proof of
concept that the property has a carrying capacity of up to 334 apartments and associated
amenities in a phased master plan that can respond to the current and future economic
conditions.
b. Describe how the project will be managed. Also, provide a list of rental projects that are
currently under the company’s management. Include each property’s location, number of
units and number of affordable units.
BRIDGE formed BRIDGE Property Management Company (BPMC) in 1987 as a financially
independent but affiliated nonprofit tax-exempt management company to ensure that the award-
winning quality of BRIDGE’s developments would be maintained over time. Revenues from the
Transporation Options Distance (walking)
West Dublin Bart Station - BART Directly Adjacent
West Dublin Bart Station - WHEELS Directly Adjacent
Dublin Blvd & Golden Gate Dr - WHEELS 0.2m
Local Services and Amentities
Safeway 0.4mi
Dublin Heritage Park 0.8mi
Dublin Sports Grounds 1.1mi
Dublin Civic Center 1.1mi
Dublin Library 1.1mi
Schools
Neilsen Elementary 1.4mi
Fairlands Elemnetary 3.7mi
Valley High School 1.1mi
Wells Middle School 1.4mi
Healthcare
CVS Pharmacy 0.6mi
Kaiser- South 0.9mi
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company, in excess of costs, are devoted to aid residents, and to provide supportive social services.
BPMC currently manages and co-manages more than 9,000 residential units. BPMC also manages
over 300,000 square feet of commercial space within our buildings.
BRIDGE’s experience as a building owner for thirty years has provided insight into how to build
efficient, sustainable buildings that can be maintained well into the future, while providing a high
quality living environment for our residents. BRIDGE currently implements standards for overall
site design, building envelope and systems, and unit and common area layouts and finishes, and
these are continually updated with feedback from our existing building performance and resident
input.
Our Approach for West Dublin Bart
Our management mission for West Dublin Bart will be to place special emphasis on a
comprehensive management plan including:
Compliance – We employ five full-time Compliance Department staff who review and
approve resident files and provide valuable ongoing training in both areas. The Compliance
staff also conducts regular spot audits of all communities to ensure ongoing compliance.
Maintenance – We have extensive experience in long-term management and budgeting and
with our knowledge of maintenance and operational requirements include maintenance
work order systems, preventive maintenance plans and cost effective use of vendors and
maintenance staff.
Marketing and Waitlist management – Our approach to marketing and rent-up utilizes a
range of targeted advertising and promotional activities selected to effectively reach
potentially qualified applicants. In addition, we develop community based outreach
programs in an effort to attract qualified potential tenants.
Accounting and financial reporting – We use MRI software for on and offsite accounting.
We provide owners monthly accounting reports and operating budgets drafted sixty days
prior to the end of the fiscal year. The accounting system for our portfolio meets all
generally accepted accounting principles.
Resident Services – We have invested a great deal in gaining expertise in this kind of
community building. In many locations, our staff works closely with local governmental
and community-based agencies to coordinate or enhance provision of these services for
residents. The company’s management style is flexible in order to meet the needs of the
resident at the property including meeting with the residents to understand their needs and
supporting resident organizations to help empower them to be an integral part of their
community.
Property Location Type Units
Property
Management
Contract
Asset
Management
Only
25 Sanchez, Mission San Francisco Senior 90 90
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255 Woodside, Mission San Francisco Senior 110 110
462 Duboce, Mission San Francisco Senior 42 42
474 Natoma Apartments San Francisco Family 60 60
Acorn I and II Oakland Family 206 206
Acorn III Oakland Family 87 87
Almaden Lake
Apartments San Jose Family 144 144
Alta Torre Palo Alto Senior 56 56
Alto Station Mill Valley Family 17 17
Armstrong Place Senior
Housing San Francisco Senior 116 116
Arroyo Point Santa Rosa Family 70 70
AveVista Oakland Family 68 68
Belvedere Place San Rafael Family 26 26
Casa Vista San Rafael Family 40 40
Celadon at 9th &
Broadway 4% San Diego Family 121 121
Celadon at 9th &
Broadway 9% San Diego SRO 129 129
Centertown San Rafael Family 60 60
Chelsea Gardens Santa Rosa
Family and
Senior 120 120
Chestnut Creek
South San
Francisco Senior 40 40
Chestnut Linden Court Oakland Family 151 151
Coggins Square Walnut Creek Family 87 87
Coleridge Park San Francisco Senior 49 49
Copper Creek 4% San Marcos Family 156 156
Copper Creek 9% San Marcos Family 48 48
Coronado Springs Seattle Family 332 332
Cottonwood Creek Suisun City Family 94 94
Doretha Mitchell Marin City Family 30 30
Dove Canyon San Diego Family 120 120
Emery Villa Emeryville Senior 50 50
Fell Street Apartments San Francisco Family 82 82
Foothill Farms Sacramento Senior 138 138
Geraldine Johnson San Francisco Senior 54 54
Grand Oak
South San
Francisco Family 43 43
Grayson Creek Pleasant Hill Family 70 70
Heritage Park Livermore Family 167
Holly Courts, Bernal San Francisco Family 118 118
Hunt's Grove St. Helena Family 56 56
Ironhorse at Central
Station Oakland Family 99 99
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Irvington Terrace Fremont Family 100 100
Ivy at College Park Chino Family 135 135
Kentfield Stockton Family 90 90
La Pradera Calistoga Family 48 48
Laguna Canyon Irvine Family 120 120
Mabuhay Court San Jose Senior 96 96
Madera Vista Phase 1 & 2 Temecula Family 80 80
Magnolia Plaza
South San
Francisco Senior 125 125
Mandela Gateway
Apartments Oakland Family 168 168
Marina Tower Annex Vallejo Senior 57 57
Marina Tower Apartments Vallejo Senior 155 155
Metro Center Foster City Senior 60 60
Montevista Apartments Milpitas
Mixed Income
Family 306 306
Mural Apartments Oakland Family 90 90
North Beach Place San Francisco
Family and
Senior 341 341
Northpoint Village
Apartments I Santa Rosa Family 70 70
Northpoint Village
Apartments II Santa Rosa Family 40 40
Oak Circle San Jose Senior 100 100
Ocean View Pacifica Senior 100 100
Ohlone Court San Jose Family 135 135
One Church Street San Francisco Family 93 93
Pacific Oaks Pacifica Senior 104 104
Paseo at COMM22 San Diego Family 130 130
Peninsula Park E. Palo Alto
Mixed Income
Family 129 129
Pickleweed Mill Valley Family 32 32
Pinole Grove Senior
Housing Pinole Senior 70 70
Poinsettia Station Carlsbad Family 92 92
Pottery Court Lake Elsinore Family 113 113
Redwood Shores Vallejo Senior 120 120
Richmond City Center
Apartments Richmond Family 64 64
Rotary Valley San Rafael Senior 80 80
Sage Canyon San Marcos Family 72 72
Sage Park Los Angeles Family 90 90
San Paulo Apartments Irvine
Mixed Income
Family 382 382
San Rafael Commons San Rafael Senior 83 83
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Santa Alicia Irvine Family 84 84
Silverado Creek Napa Family 102 102
Sitka Portland
Mixed Income
Family 209 209
St. Joseph's Senior
Apartments Oakland Senior 84 84
Steamboat Point
Apartments San Francisco Family 108 108
Strobridge Court Castro Valley
Family and
Senior 96 96
Susanne B. Wilson
Residence San Jose Family 63 63
Sycamore Place Danville Senior 74 74
Terra Cotta San Marcos Family 168 168
Terraza Palmera at St.
Joseph's Oakland Family 62 62
The Abigail Portland
Mixed Income
Family 155 155
The Arbors Hercules Senior 60 60
The Carquinez Richmond Senior 36 36
The Coronet San Francisco Senior 150 150
The Fountains Mountain View Family 124 124
The Parkview Pleasanton Senior 105 105
The Peninsula Regent San Mateo Supportive 207 207
The Rivermark
West
Sacramento Family 70 70
Torrey Del Mar San Diego Family 112 112
Tressa Apartments Seattle Family 474 474
Trestle Glen Colma Family 119 119
Victoria at COMM22 San Diego Senior 70 70
Villa Loma Apartments Carlsbad Family 344 344
Visitacion Gardens Brisbane Senior 14 14
Windrow Irvine Family 96 96
Woodbury Walk Irvine Family 150 150
Woodland Park Portland
Family and
Senior 111 111
Woods Grove Pittsburg Family 80 80
TOTAL 11,143 8,351 2,625
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Architecture + Planning580 Second St., Suite 200Oakland, CA 94607510.272.2910ktgy.comDUBLIN, CA # 2020-0854GOLDEN GATE BARTCONCEPTUAL DESIGNOCTOBER 8, 2020A0.0PROJECT DATA0163264489
LobbyLobbyGolden Gate DrA""""A-Lane AhAArchitecture + Planning580 Second St., Suite 200Oakland, CA 94607510.272.2910ktgy.comDUBLIN, CA # 2020-0854GOLDEN GATE BARTCONCEPTUAL DESIGNOCTOBER 8, 2020A0.1SITE PARCEL DIVISIONSNTSLobby30 2LP Stacks +2 Accessible Stalls(62 parking spots)Garage EntryEntA54'-10'-0"0-15'-0"Trash/BOHP3-2P3-2AmenityA-Parcel Phase 1-AArea: 37,005 sf(0.85 acres)LobbyGarage EntryTrash/BOHLane AHammer39 2LP Stacks +2 Accessible Stalls(80 parking spots)AmenityUtilityLane ArhParcel Phase 1-BArea: 37,604 sf(0.86 acres)LobbyGarage Level 1Entry46 2LP Stacks + 39 3LP Stacks +ks + 395 Accessible StallstallsTotal 214 Parking SpotsUPUtilityry DrLane Ahead Dr-0"10'-0"-0'-001Trash/BOHsh/BOP1-3P1-3P2-4P2-4enity/enitAmenenve Useve ActiveveUtilityP1-3P1-3P1-3PPP2-410'-00Lane Ah-A-Lane AhAParcel Phase 2Area: 82,548 sf(1.89 acres)490
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90 Parking SpotsDNOpen toOeeBelowBlleOpen toOpen toOpen toOpen tonnnneeeeBelowBelowelowwP2-44P1-3P2-4P2P2-4P1-3PP1-3P1-3P2-4-P1-3UtilitlitylitlitP0-1P3-0P1-0P0-1P0-1P0-1P3-1P2-0P3-0P1-1P1-1P1 1P1-0P1-P2-0P2-0P2-0P2-121P3-0P3 0P3 0P3 0P3 0P3-1P2-1P0-101P3-0P3-0P3-1P3-0P3P2-0P1-1P1-1P0 1P0 1P0-1P0 1P0-1P0 1P0 1P0-1P0-1P1-00P2-0P2-0AffordableBuilding 1-ACourtyardCoAffordableBuilding 1-BCouCourtyardCouCouArchitecture + Planning580 Second St., Suite 200Oakland, CA 94607510.272.2910ktgy.comDUBLIN, CA # 2020-0854GOLDEN GATE BARTCONCEPTUAL DESIGNOCTOBER 8, 2020A1.1LEVEL 2 PLAN0163264AFFORDABLE PHASE 1-AAFFORDABLE PHASE 1-BMARKET RATE PHASE 2492
P3-0P1-0P0-1P0-1P0-1P3-1P2-0P3-0P1-1P1-1P1 1P1-0P1-P2-0P2-0P2-0P2-121P3-0P3 0P3 0P3 0P3 0P3-1P2-1P0-101P3-0P3-0P3-1P3-0P3P2-0P1-1P1-1P0 1P0 1P0-1P0 1P0-1P0 1P0 1P0-1P0-1P1-00P2-0P2-0P2-0P2 0P2 0P2 0P2-0202020P2-0P0-1P0-1-1P0-1P0-1P1-0P1-0P1-0P1-0P1 0P1 0P1-0P1 0P1-0P0-1P1-0P1-0P1 0P1 0P1-0P1-0P3-1P2-0P1-010P2-2P1-1P2-2P2 2P2 2P1-111P2-2P1-1P1-1Market RateMarkeCourtyard AdAP1 1P1 1P1-1P1 1P1 1P1 1P1-1P1-1P1-1P1-1P1-1P1-1P1 1P1 1P1 1P0-1P0-1Level 3evAmenityenMaMarket RateMaMaCourtyard Byard Byard Byard BAffordableBuilding 1-ACourtyardCoAffordableBuilding 1-BCouCourtyardCouCouArchitecture + Planning580 Second St., Suite 200Oakland, CA 94607510.272.2910ktgy.comDUBLIN, CA # 2020-0854GOLDEN GATE BARTCONCEPTUAL DESIGNOCTOBER 8, 2020A1.2TYPICAL BUILDING PLAN0163264AFFORDABLE PHASE 1-AAFFORDABLE PHASE 1-BMARKET RATE PHASE 2493
Eden Housing
4. Preliminary Development Concept
Eden takes great pride in creating unique developments that are authentic to the
communities in which we operate. This community will be no different. The proposal
below outlines our initial thoughts and vision to create an affordable community that
will compliment and support this transit-
oriented neighborhood in Downtown
Dublin.
A. Property Overview
x AAddress: 7922 Dublin Boulevard
x APN: 941-1500-28-2
x Size:63,540 SF
x Current land use: Commercial
building
x Located within the Downtown
Dublin Specific Plan and West
Downton BART Specific Plan sub-
area
x General Plan Land Use Designation
& Zoning: Downtown Dublin Specific
Plan, Transit-Oriented District
x Amenities:
o Grocery store: Safeway, 7499
Dublin Blvd, Dublin, CA 94568 [½
mile]
o Park: Mape Memorial Park, 11711
Mape Way, Dublin, CA 94568 [½
mile]
o Pharmacy: CVS, 7201 Regional St,
Dublin, CA 94568 [¼ mile]
o Medical facility: Kaiser Pleasanton,
7601 Stoneridge Dr, Pleasanton,
CA 94588 [1 mile]
o Schools: Valley High School, 6901
York Dr, Dublin, CA 94568 [1 mile]
o Transit: West Dublin BART [[½
mile]
21 494
Eden Housing
B. Proposed Project
Overview – Building Type, Height and Parking
For this site, we envision a five-story building with one level of parking and four stories
of housing on top. Using a conceptual building plan that creates two U-shaped
buildings with private courtyards that open to the east, our initial analysis indicates that
we could fit approximately 121 units. This design allows for 126 parking spaces, for a ratio
just over 1 space per unit and in-line with parking ratios allowed under the State Density
Bonus Law. However, if additional parking is desired, we could look at add parking lifts
or stackers, a solution that Eden is constructing now in a project in Fremont.
The first level, or podium level would be concrete construction with the upper floors
constructed in wood (Type V). Note that it would be possible to add another floor of
wood construction if we use Type IIIA and that would result in 154 units – however, given
parking constraints, we have decided to focus our proposal on the 121 unit scenario but
are open to further exploring increased density with the City and our design team.
The project will include high quality amenities that are standard at Eden properties --
community rooms, computer learning centers, and well-appointed common outdoor
podium courtyards.
Anticipated Unit Affordability Mix & Tenant Population
Eden has designed the affordable component to meet a “Large Family” project type
under TCAC’s regulations in order to ensure maximum flexibility and competitiveness
for various State programs. This essentially means that the development has the
required number of three- and two-bedroom units (at least 25% of each).
The conceptual unit mix is as follows:
UUnit Type NNumber %% of total
Studio 29 24%
1 bedroom 29 24%
2 bedroom 30 25%
3 bedroom 33 27%
TTotal 1121 1100%
The funding sources that we secure will ultimately inform the specific affordability
levels of the project, but Eden anticipates delivering a mix of affordability levels as
shown below.
22 495
Eden Housing
AAMI level NNumber
20% AMI 5
45% AMI 27
50% AMI 64
60% AMI 24
Manager 1
TTotal 1121
Eden has not yet identified any specific tenant population, such as veterans, homeless,
developmentally disabled, or other kind of special needs population. We would be
happy to discuss possible tenant targeting with the City. Our assumed funding
programs have no specific occupancy restrictions, and Eden would be happy to explore
a live/work preference for Dublin residents/workers if desired.
Management & Resident Services
Eden Housing Management Inc. (EHMI) would provide property management services
for the site, and Eden Housing Resident Services Inc. would provide on-site resident
services. A list of all properties managed by EHMI is included as AAttachment C.
Site Plans
The diagrams below are rough site fit tests showing the possible configuration of
parking and units on each floor. However, if selected, we would work with a design
team to craft a tailored design for the site. These are meant to show proof of concept
rather than final designs. The proposed concept is consistent with the General Plan
and Zoning.
Level 1 – Ground Floor Parking
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Eden Housing
Level 2 – Amenities & Residential
Level 3-5 – Residential
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PROJECT DESCRIPTION
Provide a written description of the proposed project, scale of development (number
stories), type of construction, size, use of proposed tenants of commercial component (if
applicable), occupancy restrictions, number and size of units, number of parking spaces,
and type of amenities;
We are proposing a two phased approach on 3.6 acres adjacent to the West Dublin BART
station. The initial plan includes two phases with the following attributes:
Phase A Affordable 172 units 142 parking spaces 5 levels (1 pkg)
Phase B Affordable 136 units 113 parking spaces 5 levels (1 pkg)
Total 308 units 255 parking spaces
The attached conceptual site plan shows detail detailed data including the unit mix, unit
sizes, and size of amenities for each building.
Affordability in the first affordable building will have a minimum of 30% set-aside for a
special needs population that could include formerly homeless individuals/families and/or
veterans. We will include a service enriched environment for this population to help
insure their success, and will provide resident services to the entire building in order to
build community and foster personal, financial and educational growth. We are open to
discussing the specifics of this population with the City of Dublin to better meet local
needs and housing goals. Phase B will be 100% affordable, but the detailed affordability
matrix has not yet been determined. We anticipate Phase B will also include a similar mix
of affordability as Phase A.
Amenities for the affordable phases will include common areas (both indoor and on the
courtyard podium deck), counseling suites, recreational facilities, play areas, BBQ areas,
and secure parking. Parking will be provided in the ground level garage. The site plan
provides individual stoops, building lobbies, and amenities on Lane A, Entry Drive and
Golden Gate Drive to help create a pedestrian streetscape and reinforce the emerging
neighborhood. Private open space will be provided on the second level courtyard in each
building. BRIDGE has committed to build out the BART parcel adjacent to the landing
for the pedestrian overcrossing, with an urban plaza that will act as a gateway to
downtown Dublin. We propose to build a LEED Silver buildings or the equivalent Green
Point Rating. All buildings will include transit reader boards in the lobbies to promote
transit ridership. We will also build 2,200 sf of commercial space that will face Golden
Gate Drive and open to the BART plaza, serving community residents that utilize the
West Dublin BART station.
Provide basic site information such as property address, Assessor’s Parcel Number,
square footage, existing uses, current General Plan land use designation and zoning, and
indicate if the proposed project is consistent with the existing General Plan land use
Attachment 3
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designation and zoning, or if a General Plan Amendment and Rezoning are required;
The property is located at 6501 Golden Gate Drive listed by Alameda County as parcel
numbers 941-2842-4 and 941-2842-2. The site is approximately 3.6 acres and within the
Downtown Dublin Zoning District and will be consistent with the Downtown Dublin
Specific Plan and applicable state density bonus laws.
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Describe the property location, neighborhood, transportations options, local services and
amenities (full-service grocery store, neighborhood park, pharmacy, medical facility,
schools, etc.) within close proximity to the site (include distance, e.g., ¼ mile, ½ mile);
The property is located directly adjacent to the West Dublin BART station, and is one of
the last remaining vacant parcels near BART. This location is the foundation to a
sustainably developed mixed-income community. This location is very well positioned to
provide rich transportation options, and robust local and neighborhood amenities. The
chart below outlines the distances to the various community amenities that residents will
have close access to;
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a. Provide a graphic depiction of the proposed project consisting of a preliminary site plan
and conceptual architecture. Overly detailed architectural renderings or glossy material
are discouraged in response to this NOFA;
Attached is a preliminary architectural site plan and data table describing the project
phasing, unit mix, size of amenities, and proposed parking.
b. Describe how the project will be managed. Also, provide a list of rental projects that are
currently under the company’s management. Include each property’s location, number of
units and number of affordable units.
BRIDGE formed BRIDGE Property Management Company (BPMC) in 1987 as a financially
independent but affiliated nonprofit tax-exempt management company to ensure that the award-
winning quality of BRIDGE’s developments would be maintained over time. Revenues from the
company, in excess of costs, are devoted to aid residents, and to provide supportive social services.
BPMC currently manages and co-manages more than 9,000 residential units. BPMC also manages
over 300,000 square feet of commercial space within our buildings.
BRIDGE’s experience as a building owner for thirty years has provided insight into how to build
efficient, sustainable buildings that can be maintained well into the future, while providing a high
quality living environment for our residents. BRIDGE currently implements standards for overall
site design, building envelope and systems, and unit and common area layouts and finishes, and
Transporation Options Distance (walking)
West Dublin Bart Station - BART Directly Adjacent
West Dublin Bart Station - WHEELS Directly Adjacent
Dublin Blvd & Golden Gate Dr - WHEELS 0.2m
Local Services and Amentities
Safeway 0.4mi
Dublin Heritage Park 0.8mi
Dublin Sports Grounds 1.1mi
Dublin Civic Center 1.1mi
Dublin Library 1.1mi
Schools
Neilsen Elementary 1.4mi
Fairlands Elemnetary 3.7mi
Valley High School 1.1mi
Wells Middle School 1.4mi
Healthcare
CVS Pharmacy 0.6mi
Kaiser- South 0.9mi
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these are continually updated with feedback from our existing building performance and resident
input.
Our Approach for West Dublin Bart
Our management mission for West Dublin Bart will be to place special emphasis on a
comprehensive management plan including:
Compliance – We employ five full-time Compliance Department staff who review and
approve resident files and provide valuable ongoing training in both areas. The Compliance
staff also conducts regular spot audits of all communities to ensure ongoing compliance.
Maintenance – We have extensive experience in long-term management and budgeting and
with our knowledge of maintenance and operational requirements include maintenance
work order systems, preventive maintenance plans and cost effective use of vendors and
maintenance staff.
Marketing and Waitlist management – Our approach to marketing and rent-up utilizes a
range of targeted advertising and promotional activities selected to effectively reach
potentially qualified applicants. In addition, we develop community based outreach
programs in an effort to attract qualified potential tenants.
Accounting and financial reporting – We use MRI software for on and offsite accounting.
We provide owners monthly accounting reports and operating budgets drafted sixty days
prior to the end of the fiscal year. The accounting system for our portfolio meets all
generally accepted accounting principles.
Resident Services – We have invested a great deal in gaining expertise in this kind of
community building. In many locations, our staff works closely with local governmental
and community-based agencies to coordinate or enhance provision of these services for
residents. The company’s management style is flexible in order to meet the needs of the
resident at the property including meeting with the residents to understand their needs and
supporting resident organizations to help empower them to be an integral part of their
community.
Property Location Type Units
Property
Management
Contract
Asset
Management
Only
25 Sanchez, Mission San Francisco Senior 90 90
255 Woodside, Mission San Francisco Senior 110 110
462 Duboce, Mission San Francisco Senior 42 42
474 Natoma Apartments San Francisco Family 60 60
Acorn I and II Oakland Family 206 206
Acorn III Oakland Family 87 87
Almaden Lake
Apartments San Jose Family 144 144
Alta Torre Palo Alto Senior 56 56
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Alto Station Mill Valley Family 17 17
Armstrong Place Senior
Housing San Francisco Senior 116 116
Arroyo Point Santa Rosa Family 70 70
AveVista Oakland Family 68 68
Belvedere Place San Rafael Family 26 26
Casa Vista San Rafael Family 40 40
Celadon at 9th &
Broadway 4% San Diego Family 121 121
Celadon at 9th &
Broadway 9% San Diego SRO 129 129
Centertown San Rafael Family 60 60
Chelsea Gardens Santa Rosa
Family and
Senior 120 120
Chestnut Creek
South San
Francisco Senior 40 40
Chestnut Linden Court Oakland Family 151 151
Coggins Square Walnut Creek Family 87 87
Coleridge Park San Francisco Senior 49 49
Copper Creek 4% San Marcos Family 156 156
Copper Creek 9% San Marcos Family 48 48
Coronado Springs Seattle Family 332 332
Cottonwood Creek Suisun City Family 94 94
Doretha Mitchell Marin City Family 30 30
Dove Canyon San Diego Family 120 120
Emery Villa Emeryville Senior 50 50
Fell Street Apartments San Francisco Family 82 82
Foothill Farms Sacramento Senior 138 138
Geraldine Johnson San Francisco Senior 54 54
Grand Oak
South San
Francisco Family 43 43
Grayson Creek Pleasant Hill Family 70 70
Heritage Park Livermore Family 167
Holly Courts, Bernal San Francisco Family 118 118
Hunt's Grove St. Helena Family 56 56
Ironhorse at Central
Station Oakland Family 99 99
Irvington Terrace Fremont Family 100 100
Ivy at College Park Chino Family 135 135
Kentfield Stockton Family 90 90
La Pradera Calistoga Family 48 48
Laguna Canyon Irvine Family 120 120
Mabuhay Court San Jose Senior 96 96
Madera Vista Phase 1 & 2 Temecula Family 80 80
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Magnolia Plaza
South San
Francisco Senior 125 125
Mandela Gateway
Apartments Oakland Family 168 168
Marina Tower Annex Vallejo Senior 57 57
Marina Tower Apartments Vallejo Senior 155 155
Metro Center Foster City Senior 60 60
Montevista Apartments Milpitas
Mixed Income
Family 306 306
Mural Apartments Oakland Family 90 90
North Beach Place San Francisco
Family and
Senior 341 341
Northpoint Village
Apartments I Santa Rosa Family 70 70
Northpoint Village
Apartments II Santa Rosa Family 40 40
Oak Circle San Jose Senior 100 100
Ocean View Pacifica Senior 100 100
Ohlone Court San Jose Family 135 135
One Church Street San Francisco Family 93 93
Pacific Oaks Pacifica Senior 104 104
Paseo at COMM22 San Diego Family 130 130
Peninsula Park E. Palo Alto
Mixed Income
Family 129 129
Pickleweed Mill Valley Family 32 32
Pinole Grove Senior
Housing Pinole Senior 70 70
Poinsettia Station Carlsbad Family 92 92
Pottery Court Lake Elsinore Family 113 113
Redwood Shores Vallejo Senior 120 120
Richmond City Center
Apartments Richmond Family 64 64
Rotary Valley San Rafael Senior 80 80
Sage Canyon San Marcos Family 72 72
Sage Park Los Angeles Family 90 90
San Paulo Apartments Irvine
Mixed Income
Family 382 382
San Rafael Commons San Rafael Senior 83 83
Santa Alicia Irvine Family 84 84
Silverado Creek Napa Family 102 102
Sitka Portland
Mixed Income
Family 209 209
St. Joseph's Senior
Apartments Oakland Senior 84 84
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Steamboat Point
Apartments San Francisco Family 108 108
Strobridge Court Castro Valley
Family and
Senior 96 96
Susanne B. Wilson
Residence San Jose Family 63 63
Sycamore Place Danville Senior 74 74
Terra Cotta San Marcos Family 168 168
Terraza Palmera at St.
Joseph's Oakland Family 62 62
The Abigail Portland
Mixed Income
Family 155 155
The Arbors Hercules Senior 60 60
The Carquinez Richmond Senior 36 36
The Coronet San Francisco Senior 150 150
The Fountains Mountain View Family 124 124
The Parkview Pleasanton Senior 105 105
The Peninsula Regent San Mateo Supportive 207 207
The Rivermark
West
Sacramento Family 70 70
Torrey Del Mar San Diego Family 112 112
Tressa Apartments Seattle Family 474 474
Trestle Glen Colma Family 119 119
Victoria at COMM22 San Diego Senior 70 70
Villa Loma Apartments Carlsbad Family 344 344
Visitacion Gardens Brisbane Senior 14 14
Windrow Irvine Family 96 96
Woodbury Walk Irvine Family 150 150
Woodland Park Portland
Family and
Senior 111 111
Woods Grove Pittsburg Family 80 80
TOTAL 11,143 8,351 2,625
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FINACING PLAN
Provide a narrative description of the proposed method of financing the proposed project
including all sources of debt and equity. In the case of a proposed tax credit project, identify
the assumed tax credit pricing/cents on the dollar projected in the proposed project’s sources
and uses. Given the competitive nature of many of the available county, state and federal
funding programs, the narrative should describe the Applicant's approach to alternative
financing scenarios as a contingency to the preferred plan.
With the City and County commitment of funds under this NOFA, BRIDGE commits
to build no less than a 136 unit project of which 30% of the units will serve special needs
or formerly homeless households and the overall project will serve incomes no greater
than an average of 60% AMI.
20% AMI 40% AMI 50% AMI 60% Totals
Studio 32 32
1BR 9 3 10 10 32
2BR 6 15 15 36
3BR 6 15 15 36
Totals 41 15 40 40 136
Our current financing plan assumes 4% tax credits and tax-exempt bonds for the project. The
Building will additionally pursue state HCD Multi Family Housing (MHP) and No Place Like
Home (NPLH) program funds (fitting the profile for extremely-low and very-low income
households). Funding for the first building will be augmented by AHP funds, GP Equity and
deferred developer fee. Our underwriting approach uses currently achievable terms for both
financing and for project costs, unless otherwise noted. We acknowledge that rates or
investment yields may shift between now and commencement of construction, but for the
best assessment of where the project stands financially, we have chosen to use today’s rates
and terms for debt, equity, rents, and operating expenses, while construction costs are based
on a future start with an escalation.
The team’s financial analysis uses market terms and pricing for both financing and project
costs; we have chosen to use today’s relatively unfavorable tax credit equity rates & pricing
but debt rates slightly higher than today’s historically low construction and permanent debt
rates. Assumptions regarding financing sources, development costs, and other key
underwriting factors are listed below.
Capital Market Assumptions;
Tax Credits
4.00% Credit Rate as of March 2020 and Pricing of $0.90
Permanent Debt
35Y Amortization 1.20DSCR and 4.00% interest rate
Construction Debt
3% Interest Rate
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BRIDGE is targeting the first project to be competitive for MHP and NPLH serving a very
low income population group. If state funding programs change and MHP and NPLH are not
an option, given the proximity to transit and infill location we are confident that we can make
design changes to be competitive for other programs such as Affordable Housing Sustainable
Communities (AHSC) and Infill Infrastructure Grant (IIG). BRIDGE has been successful in
securing funding from these programs in the past.
Total development cost budget, itemized for each component of the project, identifying
predevelopment costs, estimates of land acquisition and site preparation costs (if applicable),
direct construction costs (for each component) and all indirect and financing costs, including
developer fee, construction escalation, design contingency, and construction contingency of no
less than 10 percent; and
A complete sources and uses of funds table for both construction and permanent
financing for each component of the project. The table should clearly indicate the
amount of requested affordable housing financial assistance and the proposed
repayment terms of such assistance.
A.DEVELOPMENT BUDGET SUMMARY
Total Per Per Per
Description Amount Resid. Unit Resid. NSF Resid GSF
--------------------------------------------------------------------------------------------------------
Acquisition & Related $4,561,000 $33,785 $39.4 $28.0
Holding Costs $0 $0 $0.0 $0.0
subtotal $4,561,000 $33,785 $39.4 $28.0
Construction $62,785,650 $465,079 $542.0 $385.1
Offsites $0 $0 $0.0 $0.0
Furnishings and Equipment $180,000 $1,333 $1.6 $1.1
Hard Cost Contingency $6,278,565 $46,508 $54.2 $38.5
subtotal $69,244,215 $512,920 $597.7 $424.7
Architecture/Engineering $2,302,677 $17,057 $19.9 $14.1
Permits and Fees $8,362,386 $61,944 $72.2 $51.3
Construction Loan Interest/Fees $4,358,077 $32,282 $37.6 $26.7
Bond Cost of Issuance $169,106 $1,253 $1.5 $1.0
Permanent Loan Fees/Costs (Incl. In Bond COI)$0 $0 $0.0 $0.0
Legal $90,000 $667 $0.8 $0.6
Appraisal/Market Study $22,500 $167 $0.2 $0.1
Marketing/Lease-up $326,287 $2,417 $2.8 $2.0
Title/Audit/Cost Certification $100,000 $741 $0.9 $0.6
Insurance $1,200,554 $8,893 $10.4 $7.4
Property Taxes $72,767 $539 $0.6 $0.4
Soft Cost Contingency and Reserves $2,106,540 $15,604 $18.2 $12.9
subtotal $19,110,893 $141,562 $165.0 $117.2
Syndication Costs, Developer Fee & Contribution $13,050,334 $96,669 $112.7 $80.0
------------------------------------------------------------------------
TOTAL DEVELOPMENT COSTS $105,966,442 $784,937 $914.7 $649.9
========= ========= ========= =========
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Sources of Funds Soft Loan Rate Amount Term Hard Payment Cash Flow Participation
Permanent Mortgage No 4.00%$7,410,573 35 Yes
City of Dublin / County Funds Yes 3%$10,000,000 55 No 50% Pari-Passu with Soft Loans
HCD NPLH Yes 3%$15,000,000 55 0.42%50% Pari-Passu with Soft Loans
FHLB AHP Grant 0%$1,200,000 No
HCD MHP Yes 3%$16,709,649 55 0.42%50% Pari-Passu with Soft Loans
Investor Equity - 4% Federal Credit $45,237,077
BRIDGE GP Contribution $9,760,692
Deferred Developer Fee $648,450
Uses of Funds
Acquisition $4,561,000 $4,561,000
Construction $69,244,215 $69,244,215
Off-Site Improvements $0 $0
A/E, Permits $10,665,063 $10,665,063
Indirect Expenses $1,729,340 $1,739,340
Financing and Carry Costs $4,527,182 $4,527,182
Other (Prop. taxes + Soft Cost Contingency)$1,685,324 $2,179,308
Developer Fee + Syndication Costs $891,192 $13,050,334
--------------------------------------------
TOTAL USES $93,303,317 $105,966,442
508
W Dublin
Project West Dublin 136 units
Gross Building Area 164,546
Total Number of Units (Affordable)135 Residential Net Area 115,846
Number of Parking Spaces 113
A.DEVELOPMENT BUDGET SUMMARY C.FINANCING ASSUMPTIONS D.FIVE YEAR CASH FLOW
Total Per Per Per
Description Amount Resid. Unit Resid. NSF Resid GSF CONSTRUCTION LOAN Description 2023 2024 2025 2026 2027
--------------------------------------------------------------------------------------------------------Lender:TBD
Acquisition & Related $4,561,000 $33,785 $39.4 $28.0 Loan Amount:$77,579,609 48,335,044$ Tenant Rental Income - Affordable 2.50%$1,098,211 $1,125,666 $1,153,808 $1,182,653 $1,212,220
Holding Costs $0 $0 $0.0 $0.0 Loan Term:27 mos Tenant Rental Income - PBV 2.50%$1,045,865 $1,072,011 $1,098,812 $1,126,282 $1,154,439
subtotal $4,561,000 $33,785 $39.4 $28.0 LIBOR (30-day)0.75%Tenant Rental Income - Market 3.00%$0 $0 $0 $0 $0
Construction $62,785,650 $465,079 $542.0 $385.1 Spread 1.45%Rental Income - Commercial 3.00%$0 $0 $0 $0 $0
Offsites $0 $0 $0.0 $0.0 Cushion 0.80%Misc. Income 2.50%$19,440 $19,926 $20,424 $20,935 $21,458
Furnishings and Equipment $180,000 $1,333 $1.6 $1.1 Note Rate:3.00%------------------------------------------------------------------------------------------
Hard Cost Contingency $6,278,565 $46,508 $54.2 $38.5 > 50% Basis plus land?76.6%Gross Scheduled Income $2,163,516 $2,217,604 $2,273,044 $2,329,870 $2,388,117
subtotal $69,244,215 $512,920 $597.7 $424.7 less Vacancy/Collection Loss - Residential 5.00%($108,176)($110,880)($113,652)($116,494)($119,406)
Architecture/Engineering $2,302,677 $17,057 $19.9 $14.1 less Vacancy/Collection Loss - Comm 5.00%$0 $0 $0 $0 $0
Permits and Fees $8,362,386 $61,944 $72.2 $51.3 PERMANENT DEBT ------------------------------------------------------------------------------------------
Construction Loan Interest/Fees $4,358,077 $32,282 $37.6 $26.7 Lender:TBD Effective Gross Income $2,055,340 $2,106,724 $2,159,392 $2,213,377 $2,268,711
Bond Cost of Issuance $169,106 $1,253 $1.5 $1.0 Loan Amount:$7,410,573.44 less Operating Expenses Residential 3.50%($1,227,926)($1,270,903)($1,315,385)($1,361,423)($1,409,073)
Permanent Loan Fees/Costs (Incl. In Bond COI)$0 $0 $0.0 $0.0 Loan Term:35 less Operating Expenses Commercial 3.50%$0 $0 $0 $0 $0
Legal $90,000 $667 $0.8 $0.6 10 Year Treasury 1.50%less Resident Services 3.50%($75,000)($77,625)($80,342)($83,154)($86,064)
Appraisal/Market Study $22,500 $167 $0.2 $0.1 Spread 2.00%less Property Taxes 2.00%$0 $0 $0 $0 $0
Marketing/Lease-up $326,287 $2,417 $2.8 $2.0 Cushion 0.50%less Replacement Reserves 3.50%($47,250)($48,904)($50,615)($52,387)($54,220)
Title/Audit/Cost Certification $100,000 $741 $0.9 $0.6 Note Rate:4.00%Ground Lease 2.00%($41,107)($42,134)($43,188)($44,268)($45,374)
Insurance $1,200,554 $8,893 $10.4 $7.4 Payment (annual):$397,039 less City and County Monitoring Fees 0.00%($47,250)($47,250)($47,250)($47,250)($47,250)
Property Taxes $72,767 $539 $0.6 $0.4 DCR:1.20 0 0.00%$0 $0 $0 $0 $0
Soft Cost Contingency and Reserves $2,106,540 $15,604 $18.2 $12.9 ------------------------------------------------------------------------------------------
subtotal $19,110,893 $141,562 $165.0 $117.2 INVESTOR EQUITY - FEDERAL CREDIT Net Operating Income $476,446 $479,546 $482,251 $484,534 $486,368
Syndication Costs, Developer Fee & Contribution $13,050,334 $96,669 $112.7 $80.0 Net Rate 0.90 Total Hard Debt Payments ($397,039)($397,039)($397,039)($397,039)($397,039)
------------------------------------------------------------------------Net Pay-in $45,237,077 Distributable Cash Flow $79,408 $82,507 $85,212 $87,495 $89,329
TOTAL DEVELOPMENT COSTS $105,966,442 $784,937 $914.7 $649.9 Initial Pay-in $4,523,708 less PM, AM Fees & Add'l Rep Reserve ($34,000)($34,000)($34,000)($34,000)($34,000)
========= ========= ========= =========Credit Rate 4.00%Net Cash Flow $45,408 $48,507 $51,212 $53,495 $55,329
check -$ Annual Federal Credits $5,026,845 Cash Flow Distribution ------------------------------------------------------------------------------------------
Deferred Developer Fee $648,450 $45,408 $48,507 $51,212 $53,495 $55,329
B.SOURCES AND USES Construction Permanent HCD MHP Incentive Management Fee to GP 50%$0 $0 $0 $0 $0
Sources of Funds Period Period Loan Amount:$16,709,649 N/A 0%$0 $0 $0 $0 $0
Permanent Mortgage $7,410,573 Loan Term:55 Pari-Passu to Other Soft Lenders 50%$0 $0 $0 $0 $0
Construction Loan $77,579,609 $0 Note Rate:3.00%To Investor 0%$0 $0 $0 $0 $0
City of Dublin / County Funds 74,074$ $10,000,000 $10,000,000 Req. Payment (annual):0.42%============================================================
HCD NPLH 111,111$ $0 $15,000,000 Payment (annual):$70,181 Debt Coverage Ratio 1.20 1.21 1.21 1.22 1.22
FHLB AHP 8,889$ $1,200,000 $1,200,000
HCD MHP 530%123,775$ $0 $16,709,649 Alameda County HA PBV
PBVs 45 E.ANNUAL OPERATING EXPENSES Property Tax
Investor Equity - 4% Federal Credit $4,523,708 $45,237,077 PBV %33.3%Operating Expense $8,963 per unit per year Yr. 1 Value $7,940,774
BRIDGE GP Contribution $0 $9,760,692 Resident Services $75,000 per year Yr. 1 Prop Tax $0
Deferred Developer Fee $648,450 BMR Exemption 100.00%
--------------------------------------------
TOTAL SOURCES $93,303,317 $105,966,441
DEVELOPER FEE - TCAC 4% NC F.UNIT MIX AND RENTS Total
Uses of Funds Total Project Cost 106,023,048$ 20%30%35%40%50%60%70%80%(%)
Acquisition $4,561,000 $4,561,000 Eligible Basis Before Dev Fee 84,060,941$ ------------------------------------------------------------------------------------------------------------------------------------------------------------------
Construction $69,244,215 $69,244,215 Max Total Fee 15.0%12,609,141$ Studio
Off-Site Improvements $0 $0 Required Deferred Fee 11.6%9,759,141$ #17 0 0 17 0 0 0 0 34
A/E, Permits $10,665,063 $10,665,063 Available CF for Deferred Fee 0.8%646,932$ Net Rent $402 $630 $744 $859 $1,087 $1,315 $1,544 $1,772 25%
Indirect Expenses $1,729,340 $1,739,340 Deferred Fee 0.8%646,932$ ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Financing and Carry Costs $4,527,182 $4,527,182 Cash Fee 2.6%2,200,000$ 1b
Other (Prop. taxes + Soft Cost Contingency)$1,685,324 $2,179,308 Max GP Contribution 11.6%9,762,209$ #15 0 0 15 0 0 0 0 30
Developer Fee + Syndication Costs $891,192 $13,050,334 Net Rent $426 $671 $793 $915 $1,160 $1,405 $1,649 $1,894 22%
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
TOTAL USES $93,303,317 $105,966,442 2b
--------------------------------------------#18 0 0 17 0 0 0 0 35
NET SURPLUS(SHORTFALL)$0 -$1 Net Rent $501 $795 $942 $1,088 $1,382 $1,676 $1,969 $2,263 26%
============== ==============------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
3b
Total Cost to Finance $93,303,317 $105,966,442 #18 0 0 18 0 0 0 0 36
Net Rent $568 $908 $1,077 $1,247 $1,586 $1,925 $2,264 $2,604 27%
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
#0 0 0 0 0 0 0 0 0
Net Rent $568 $908 $1,077 $1,247 $1,586 $1,925 $2,264 $2,604 0%
========================================================================================================================
Total 68 0 0 67 0 0 0 0 135
(%)50%0%0%50%0%0%0%0%100%
% of Affordable 50%0%0%50%0%0%0%0%100%
509
DUBLIN, CA # 2020-0854
GOLDEN GATE BART
Architecture + Planning
The Leamington Building
1814 Franklin Street
Suite 400
Oakland, CA 94612
510.272.2910
ktgy.com
PRE-APP SUBMITTAL
MARCH 22, 2021 A0.0COVER PAGE
510
DUBLIN, CA # 2020-0854
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Architecture + Planning
The Leamington Building
1814 Franklin Street
Suite 400
Oakland, CA 94612
510.272.2910
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PRE-APP SUBMITTAL
MARCH 22, 2021 A0.1PROJECT INFO
VICINITY MAP SHEET INDEX
CLIENT:
BRIDGE Housing
600 California Street, Ste. 900
San Francisco, CA 94108
ARCHITECT:
KTGY Architecture + Planning
1814 Franklin St, Suite 400
Oakland, CA 94612
CIVIL ENGINEER:
MacKay & Somps Civil Engineers, Inc.
5142 Franklin Drive, Suite B
Pleasanton, CA 94588
P: 925 225 0690
PROJECT TEAM DIRECTORY
Site
ARCHITECTURAL:
A 0.0 Cover Page
A 0.1 Project Info
A 0.2 Context Diagram
A 0.3 Project Data
A 1.0 Site Plan - Level 1
A 1.1 Building Plans Level 2 - 3
A 1.2 Building Plans Level 4 - 5
A 2.0 Building Elevations
A 2.1 Building Elevations
A 2.2 Building Elevations
A 3.0 Building Sections
A 4.0 Massing Diagram
A 4.1 Building Perspectives
A 4.2 Building Perspectives
A 4.3 Building Perspectives
A 5.0 Image Board
511
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510.272.2910
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MARCH 22, 2021 A0.2CONTEXT DIAGRAM
512
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510.272.2910
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MARCH 22, 2021 A0.3PROJECT DATA
513
5 FT FRONT SETBACK5 FT SIDE SETBACK10 FT FREEWAY
S
E
T
B
A
C
K
5 FT FRONT SETBACK
60 FT EASEMENT (50FT ON OURPROPERTY)OTIS GEN 2 3500UPDNUPDNOTIS GEN 2 3500OTIS GEN 2 3500
UPDNUPDNUPDN16'-0"26'-0"4'-0"6'-0"
26'-0"7'-0"
24'-0"
8'-0"
213'-0"156'-6"273'-6"291'-0"24'-0"24'-0"
17'-6"
CCCC CCCC
CCCC CCCC
CCCC CCCC
C CCC CCCC
C
C C CCCCCC
CCCCC C CEVAEntry Dr
Hammerhead Dr
L.Lane ARetail
±2,200 sf
Community
Room
±1,500 SF
Ut.
Property
Mgmt.
±2,000 SF
Ut.
Bike
Ut.T T
Ut.
Ut.
Property
Mgmt.
TTTTTT
Residential Parking
Bike.
Ut.
T
Tr.
Tr.
L.
Residential Parking
L.
C C C CCC
C C C CCC
C C C CCC
C C C CCC
CCC C
C CCCCC
Community
Room
Ut.
P1-1 P1-1 P1-1 P1-1
150'-0"
150'-0"
T
BART
Plaza
PHASE A
Golden Gate DrWest Dublin
BART Parking
Connolly Station
Apartment Homes
T
PHASE B
DUBLIN, CA # 2020-0854
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510.272.2910
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MARCH 22, 2021 0 16 32 64 A1.0SITE PLAN - LEVEL 1
514
5 FT FRONT SETBACK5 FT SIDE SETBACK10 FT FREEWAY
S
E
T
B
A
C
K
5 FT FRONT SETBACK
60 FT EASEMENT (50FT ON OURPROPERTY)OTIS GEN 2 3500UPDNUPDNOTIS GEN 2 3500OTIS GEN 2 3500
UPDNUPDNUPDN30"x48"30"x48"30"x48"30"x48"81'-9"
214'-2"260'-0"280'-2"289'-2"156'-6"157'-10"48'-9"90'-3"50'-3"90'-3"
Courtyard
Courtyard A
Courtyard B
Hammerhead Dr
Entry Dr
EVALane ALaundryLaundryAmenity
(Double
Story)
Amenity
(Double
Story)
Amenity
(Double
Story)
P3-1 P3-1 Alt
P3-3 AltP3-3
P1-0P0-1P2-0
P2-1
P0-1
P2-0
P0-1
P0-1
P0-1
P0-1
P0-1
P2-0
P1-0
P1-0
P3-1 P2-0 P0-1 P2-0
P3-3 ALTP3-3
P2-1
P2-1
P1-0
P1-0 P3-2
P3-2P1-0P2-1
P1-0
P3-1
P0-1
P3-0
P3-0
P3-0
P3-0
P1-0
P3-1 P2-0 P2-0 P0-1 P3-1
P2-1 P0-1 P0-1 P0-1 P0-1 P2-1
P2-1 P0-1 P0-1 P0-1 P0-1 P2-1
P0-1
P1-0
P3-0
P2-0
P0-1
P3-0
P2-0
P0-1
P2-0
P3-0
P3-0
P2-0
P3-1
P2-0 P2-0 P0-1 P0-1
DUBLIN, CA # 2020-0854
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Architecture + Planning
The Leamington Building
1814 Franklin Street
Suite 400
Oakland, CA 94612
510.272.2910
ktgy.com
PRE-APP SUBMITTAL
MARCH 22, 2021 A1.1BUILDING PLANS LEVEL 2 - 3
0 16 32 64
515
5 FT FRONT SETBACK5 FT SIDE SETBACK10 FT FREEWAY
S
E
T
B
A
C
K
5 FT FRONT SETBACK
60 FT EASEMENT (50FT ON OURPROPERTY)OTIS GEN 2 3500UPDNUPDNOTIS GEN 2 3500OTIS GEN 2 3500
UPDNUPDNUPDN30"x48"30"x48"30"x48"30"x48"81'-9"
214'-2"260'-0"280'-2"289'-2"156'-6"157'-10"48'-9"90'-3"50'-3"90'-3"
Courtyard
Courtyard A
Courtyard B
Hammerhead Dr
Entry Dr
EVALane ALaundryLaundryP3-1 P3-1 Alt
P3-3 AltP3-3P2-1
P0-1
P2-0
P0-1
P0-1
P0-1
P0-1
P0-1
P2-0
P1-0
P1-0
P3-1 P2-0 P0-1 P2-0
P3-3 ALTP3-3
P2-1
P2-1
P1-0
P1-0
P1-0P2-1
P1-0
P3-1
P0-1
P3-0
P3-0
P3-0
P3-0
P1-0
P3-1 P2-0 P2-0 P0-1 P3-1
P2-1 P0-1 P0-1 P0-1 P0-1 P2-1
P2-1 P0-1 P0-1 P0-1 P0-1 P2-1
P1-0
P1-0
P3-0
P2-0
P0-1
P3-0
P2-0
P0-1
P2-0
P3-0
P3-0
P2-0
P3-1
P2-0 P2-0 P0-1 P0-1
P1-0
P1-0
P3-2
P3-2
P1-0
P1-0
P1-0P0-1P2-0
DUBLIN, CA # 2020-0854
GOLDEN GATE BART
Architecture + Planning
The Leamington Building
1814 Franklin Street
Suite 400
Oakland, CA 94612
510.272.2910
ktgy.com
PRE-APP SUBMITTAL
MARCH 22, 2021 A1.2BUILDING PLANS LEVEL 4 - 5
0 16 32 64
516
OTIS
G
E
N
2
3
5
0
0
UPDNUPDNOTIS GEN 2 3500OTIS GEN 2 3500
UPDNUPDNUPDN30"x48"30"x48"30"x48"30"x48"ST. PATRICK WAY PHASE A - BUILDINGPHASE B - BUILDING WEST DUBLIN BART PARKING
DUBLIN, CA # 2020-0854
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Architecture + Planning
The Leamington Building
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510.272.2910
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PRE-APP SUBMITTAL
MARCH 22, 2021 A2.0BUILDING ELEVATIONS
Key Map n.t.s
1. Streetscape Elevation from Hammerhead Dr. n.t.s
Hammerhead Dr.
Entry Dr.Lane AGolden Gate Dr.1
517
Level 1
Level 2
Level 3
Level 4
Level 5
T. O. Ply
T. O. Parapet
± 57'-0"± 61'-0"16'-0"10'-3"10'-3"10'-3"10'-3"4'-0"11241415971025623213
Level 1
Level 2
Level 3
Level 4
Level 5
T. O. Ply
T. O. Parapet
± 57'-0"± 61'-0"16'-0"10'-3"10'-3"10'-3"10'-3"4'-0"4 15 9 16 12 10 14 6 5 2 2 7 3 2 11
OTIS
G
E
N
2
3
5
0
0
UPDNUPDNOTIS GEN 2 3500OTIS GEN 2 3500
UPDNUPDNUPDN30"x48"30"x48"30"x48"30"x48"DUBLIN, CA # 2020-0854
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Suite 400
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510.272.2910
ktgy.com
PRE-APP SUBMITTAL
MARCH 22, 2021 A2.1BUILDING ELEVATIONS
321680
Key Map n.t.s
2
1. Phase A Elevation from Hammerhead Dr.
2. Phase B Elevation from Hammerhead Dr.
Hammerhead Dr.
Entry Dr.Lane AGolden Gate Dr.1
Material Legend:
1.Cementitious Vertical Siding or equal
2.Cementitious Panel or equal
3.Vertical Metal Panel or equal
4.Profiled Metal Panel or equal
5.Brick Veneer or equal
6.Stucco 1 - 20/30 Finish or equal
7.Stucco 2 - Sand Finish or equal
8.Storefront or equal
9.Vinyl Window or equal
10.Metal Railing or equal
11.Metal Awning or equal
12.Decorative Shading Screen or equal
13.Storefront / Spandrel Glazing or equal
14.Landscape Planter or equal
15.Garage Screen or equal
16.Cementitious Horizontal Siding or equal
518
OTIS
G
E
N
2
3
5
0
0
UPDNUPDNOTIS GEN 2 3500OTIS GEN 2 3500
UPDNUPDNUPDN30"x48"30"x48"30"x48"30"x48"Level 1
Level 2
Level 3
Level 4
Level 5
T. O. Ply
T. O. Parapet
± 57'-0"± 61'-0"16'-0"10'-3"10'-3"10'-3"10'-3"4'-0"2 8 3 9 4 110214 12 5 6 8 7 2 11
DUBLIN, CA # 2020-0854
GOLDEN GATE BART
Architecture + Planning
The Leamington Building
1814 Franklin Street
Suite 400
Oakland, CA 94612
510.272.2910
ktgy.com
PRE-APP SUBMITTAL
MARCH 22, 2021 A2.2BUILDING ELEVATIONS
321680
Key Map n.t.s
1. Phase A Elevation from Golden Gate Dr.
Hammerhead Dr.
Entry Dr.Lane AGolden Gate Dr.1
Material Legend:
1.Cementitious Vertical Siding or equal
2.Cementitious Panel or equal
3.Vertical Metal Panel or equal
4.Profiled Metal Panel or equal
5.Brick Veneer or equal
6.Stucco 1 - 20/30 Finish or equal
7.Stucco 2 - Sand Finish or equal
8.Storefront or equal
9.Vinyl Window or equal
10.Metal Railing or equal
11.Metal Awning or equal
12.Decorative Shading Screen or equal
13.Storefront / Spandrel Glazing or equal
14.Landscape Planter or equal
15.Garage Screen or equal
16.Cementitious Horizontal Siding or equal
519
Level 1
Roof
Level 5
Level 4
Level 3
Level 1
Roof
Level 5
Level 4
Level 3
Courtyard
UnitUnit
Unit
Unit
Unit
Unit
Unit
Unit
Golden Gate Dr.Lane A
Unit
Garage Amenity
Unit
Unit
Unit
Unit
Unit
Unit
10'-3"±57'-0"10'-3"10'-3"10'-3"16'-0"±61'-0"10'-3"±57'-0"10'-3"10'-3"16'-0"PL PL
Unit
Unit
Unit
Unit
Unit
Unit
Unit
UnitUnit Level 2Level 2 10'-3"Garage
Phase B - Building Phase A - Building
Roof
Level 5
Level 4
Level 3
Level 1 10'-3"±57'-0"10'-3"10'-3"10'-3"16'-0"Level 5
Level 4
Level 3
Level 110'-3"±57'-0"10'-3"10'-3"10'-3"16'-0"Courtyard
Garage
UnitUnit
Unit
Unit
Unit
Unit
Unit
Unit
Roof
Unit
Unit
Unit
Unit
Courtyard
PL PL
Entry Dr.Hammerhead Dr.±61'-0"Unit
Unit
Unit
Unit
Unit
Unit
Unit
Unit
Unit
Unit
Unit
Unit
Level 2Level 2
Amenity
Phase B - Building OTIS GEN 2 3500UPDNUPDNOTIS GEN 2 3500OTIS GEN 2 3500
UPDNUPDNUPDN30"x48"30"x48"
30"x48
"
30"x48"
DUBLIN, CA # 2020-0854
GOLDEN GATE BART
Architecture + Planning
The Leamington Building
1814 Franklin Street
Suite 400
Oakland, CA 94612
510.272.2910
ktgy.com
PRE-APP SUBMITTAL
MARCH 22, 2021 A3.0BUILDING SECTIONS
321680
Entry Dr.
Hammerhead Dr.Golden Gate Dr.Lane AKey Map n.t.s
B
1. Section A
2. Section B
A
520
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510.272.2910
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PRE-APP SUBMITTAL
MARCH 22, 2021 A4.0MASSING DIAGRAM
Aerial View looking North from BART
521
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MARCH 22, 2021 A4.1BUILDING PERSPECTIVES
View from BART platform on I-580
522
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MARCH 22, 2021 A4.2BUILDING PERSPECTIVES
View from BART Plaza
523
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MARCH 22, 2021 A4.3BUILDING PERSPECTIVES
View from Golden Gate Dr.
524
2040 BANCROFT WAY, SUITE 302 BERKELEY, CALIFORNIA 94704 PHONE: 415 398 3050 FAX: 415 397 5065
Revised memorandum; jf WWW.KEYSERMARSTON.COM 11982.012
ADVISORS IN: REAL ESTATE AFFORDABLE HOUSING ECONOMIC DEVELOPMENT
BERKELEY A. JERRY KEYSER TIMOTHY C. KELLY DEBBIE M. KERN DAVID DOEZEMA KEVIN FEENEY
LOS ANGELES KATHLEEN H. HEAD JAMES A. RABE GREGORY D. SOO-HOO KEVIN E. ENGSTROM JULIE L. ROMEY TIM BRETZ
SAN DIEGO PAUL C. MARRA
MEMORANDUM
To: Kristie Wheeler, Assistant Community Development Director
City of Dublin
From: Debbie Kern and Harriet Ragozin
Date: March 25, 2021
Subject: Review of Bridge Housing Financial Development Pro Forma for
Affordable Housing Project at 6501 Golden Gate Drive
In accordance with your request, Keyser Marston Associates, Inc. (KMA) has
undertaken a preliminary review of the development economics of the proposed
affordable apartment complex to be built at 6501 Golden Gate Drive in Dublin, adjacent
to the West Dublin/Pleasanton BART station. The BRIDGE Housing Corporation
(BRIDGE) proposal includes two phases with a total of 308 units, although it is only
requesting City/County assistance for Phase I of the project, which consists of 136 of the
units. The purpose of KMA’s analysis is to assess the overall reasonableness of
BRIDGE’s pro forma, including its request for $10 million of local funding from the City of
Dublin.
Based on the provided information, it is our understanding that the BRIDGE project will
include 136 residential units in four levels of Type V construction over one level of
parking in a concrete podium. There will be 135 affordable units with an average of 1.5
bedrooms per unit and 844 square feet per unit, and one manager’s unit.
To assess the reasonableness of the BRIDGE proposal, KMA compared it to two other
similar recent tax credit projects: 965 Weeks Street in East Palo Alto and Lazuli Landing
in Union City. Both projects are developed by MidPen Housing Corporation. The
comparison is shown in Table 1 at the end of this memorandum.
Assessment of Development Costs
The development cost estimates provided by BRIDGE are consistent with the
comparison projects. Total direct costs are estimated at $69 million or $603 per square
Attachment 5
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foot of rentable area. This cost estimate includes the provision of prevailing wages and
represents 65% of total development costs. On a per unit and per square foot basis, total
directs costs for the BRIDGE project are less than the comparison projects.
Project West Dublin 965 Weeks Street Lazuli Landing
Total Direct Costs $69,244,215 $87,635,396 $56,686,523
Per Unit $509,149 $644,378 $699,834
Per Net SF $603 $692 $800
Indirect costs are estimated to total approximately $15 million, with an additional $13
million in developer fee for BRIDGE and syndication costs. While the total developer fee
is $13 million (less syndication fees), BRIDGE is contributing $9.8 million in equity, for a
net developer fee of $3.3 million. Of this, BRIDGE is deferring $648,450. The developer
fee amount net of an equity contribution to the project is in line with the comparison
projects, on a per unit basis.
Per Unit Amounts Project West Dublin 965 Weeks Street Lazuli Landing
Developer Fee $95,959 $111,842 $117,908
GP Equity $71,770 $82,070 $97,792
Net Developer Fee $24,189 $29,772 $20,116
Land acquisition costs are estimated at $4.56 million or approximately $34,000 per unit.
This includes an assignment fee to Barings and an upfront minimum ground lease
payment to BART. In addition, the project will make a ground lease payment to BART in
an amount equal to 2% of effective gross income.
Total development costs are estimated at $106 million, or $779,000 per unit.
Project West Dublin 965 Weeks Street Lazuli Landing
Total Development Costs $105,966,442 $120,348,750 $79,135,466
Per Unit $779,165 $884,917 $976,981
Per Net SF $923 $951 $1,117
Overall, the BRIDGE proposal’s development costs are less expensive than the
comparable projects.
Project Financing
As proposed, the project’s $106 million development cost will be financed with a
combination of funding sources, including $45.2 million of tax credit equity, $7.4 million
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Housing Project at 6501 Golden Gate Drive Page 3
Revised memorandum; jf
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in tax exempt bonds, $16.7 million from HCD MHP, $15 million from HCD NPLH, $1.2
million from AHP, a $9.76 million contribution from BRIDGE, and a deferred fee of
$650,000. BRIDGE is requesting $10 million from the City of Dublin/Alameda County to
fully fund the project. This represents 9% of total development costs, or $73,529 per unit.
As presented in the following chart, the funding request for the subject BRIDGE project
is significantly less than the amount of local funding that is being provided for the East
Palo Alto and Union City affordable projects.
Project West Dublin 965 Weeks Street Lazuli Landing
Total Development Costs $105,966,442 $120,348,750 $79,135,466
Requested Local
Jurisdiction Funding $10,000,000 $21,750,637 $20,075,236
Local Funding, per unit $73,529 $159,931 $247,842
Percent Financed with
City/County Funds 9% 18% 24%
Affordability of Units
BRIDGE is proposing deep affordability levels, with a mix of 20% AMI and 40% AMI
units. The pro forma includes project-based vouchers for 45 of the units. This is a deeper
affordability mix than the comparison projects, which both included units in the 50% -
80% AMI range.
Summary of Findings and Conclusions
In summary, the development costs and financing plan for the proposed BRIDGE project
are consistent with the experiences of other affordable projects that are subject to
prevailing wages and of a similar density, which KMA has recently evaluated and appear
reasonable. The amount of local subsidy that is being requested per unit of development
is less than what is being provided for the other comparable projects.
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Table 1
Comparison of Recent Tax Credit Projects
BRIDGE Housing Proposal Review
City of Dublin Working Draft
I. Project InformationLocationDeveloperTax Credit TypePrevailing WagesYear
II. Project DescriptionNumber of Units 136 units 136 units 81 unitsSite Size 3.59 acres (gr)2.52 acres 1.65 acresConstruction Type Type VNumber of Stories 4 over 1 level of garage 4 storiesParking Configuration Structured Structured PodiumParking Spaces 113 0.83 /unit 0.00 /unit 112 1.38 /unit
Bedroom Mix total % of units total % of units total % of unitsStudio3425%8 6%0%1 BR 30 22%19 14%21 26%2 BR 35 26%74 55%37 46%3 BR 36 27%27 20%23 28%4 BR 7 5%0%Total 135 (excl mgr unit)135 (excl mgr unit)81 (incl mgr unit)Avg. Nmbr of Bedrooms 1.5 BRs 2.0 BRs 2.0 BRsAverage Unit Size 844 sf 931 sf 874 sf
III. Project Costs total per unit per nsf % of total total per unit per nsf % of total total per unit per nsf % of totalLand Acquisition $4,561,000 $33,537 $40 4%$22,501 $165 $0 0%$576,350 $7,115 $8 1%Direct Costs $69,244,215 $509,149 $603 65%$87,635,396 $644,378 $692 73%$56,686,523 $699,834 $800 72%Indirect Costs $14,583,711 $107,233 $127 14%$10,222,003 $75,162 $81 8%$8,645,306 $106,732 $122 11%Financing Costs $4,527,182 $33,288 $39 4%$7,258,313 $53,370 $57 6%$3,676,779 $45,392 $52 5%Developer Fee $13,050,334 $95,958 $114 12%$15,210,537 $111,842 $120 13%$9,550,508 $117,908 $135 12%Total Costs $105,966,442 $779,165 $923 100%$120,348,750 $884,917 $951 100%$79,135,466 $976,981 $1,117 100%
*Developer Fee includes syndication costs. Max fee: $12.6 m.(Excludes commercial costs.)
IV Affordability Mix total % of units total % of units total % of units20% AMI 68 50%16 20%30% AMI 45 33%0%40% AMI 67 49%17 13%18 22%50% AMI 31 23%18 22%60% AMI 42 31%22 27%80% AMI 6 7%Manager's Unit 1 1%1 1%1 1%Total 136 100%136 100%81 100%
V. Project Financing total per unit total per unit total per unitTax Credit Equity $45,237,077 $332,626 43%$44,357,676 $326,159 37%$29,671,668 $366,317 35%Permanent Loan $7,410,573 $54,490 7%$21,029,900 $154,632 17%$3,574,600 $44,131 4%Deferred Developer Fee $648,450 $4,768 1%$2,049,015 $15,066 2%$136,252 $1,682 0%City/County Funds $10,000,000 $73,529 9%$21,750,637 $159,931 18%$20,075,236 $247,842 24%HCD NPLH $15,000,000 $110,294 14%FHLB AHP $1,200,000 $8,824 1%$800,000 $9,877 1%HCD MHP $16,709,649 $122,865 16%HCD - IIG $5,034,924 $62,160 6%AHSC $20,000,000 $147,059 17%$16,406,261 $202,546 20%GP Contribution $9,760,692 $71,770 9%$11,161,522 $82,070 9%$7,921,143 $97,792 9%Total Sources of Funds $105,966,441 $779,165 100%$120,348,750 $884,917 100%$83,620,084 $1,032,347 100%(Includes commercial costs.)Project Based Vouchers 45 units 33%15 units 11%none
Operating Expenses $8,963 /unit $7,305 /unit $7,003 /unit
2020
Lazuli Landing
Union CityMid-Pen Housing4%Yes
Project West Dublin 965 Weeks Street
DublinBRIDGE Housing4%
2021Yes
East Palo AltoMid-Pen Housing4%Yes2020
Keyser Marston Associates, Inc.\\sf-fs2\SFEmployee\dkern\My Documents\dublin\BRIDGE Housing at BART 03 21\Copy of Comparison to TC projects; 3/31/2021
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Item 7.1: BRIDGE Housing Affordable
Rental Housing Project
Unit Reservation and Funding Allocation
City Council
April 20, 2021
Background
•July 2020 –City issued Notice of Funding
Availability (NOFA)
•November 17, 2020 –City Council received report
on proposals received in response to NOFA
–BRIDGE Housing
–Eden Housing
•City Council directed Staff to
–Work with BRIDGE on refinements to their proposal
–Consider opportunities to fund both proposals
BRIDGE Proposal
•Vacant 3.6-acre site located adjacent to West
Dublin/Pleasanton BART station
BRIDGE Proposal
•Two -phase project
with 308 affordable
units
–136 units (subject of
NOFA)
–172 units
–Ground floor retail,
amenity space and
parking
View from BART Platform
View from BART Plaza
View from Golden Gate Drive
Affordability Levels
•136 units would be affordable to households earning average of 43% AMI
•172 units would be 100% affordable but may include moderate income units
•30% of units in first phase would be set aside for special needs populations
–Formerly homeless
–Veterans
% of Area Median
Income (AMI)
No. of
Units
20%41
40%15
50%40
60%39
Market Rate
(Manager’s Unit)
1
Total 136
Funding Request
•BRIDGE has requested $10 million for 136 units or
$73,529 per unit
–$7.1 million from City Affordable Housing Fund
–$2.9 million from Alameda County Measure A-1 Bond
Fund
•Keyser Marston reviewed funding proposal
–Development costs and financing plan consistent with
other similar affordable housing projects
–Subsidy requested per unit is less than other comparable
projects
Downtown Development Pool
Total Units in the Pool 2,500
Total Reserved Units (1,396)
Remaining Units 1,104
Community Benefit Agreement
Deal Terms
•Affordability Level
•Fully furnished units
•2,200 sq. ft. ground floor café
•Plaza enhancements
•Affordable housing unit credits
Recommendation
•Adopt a Resolution Appropriating $7.1 million from
the City’s Affordable Housing Fund and Authorizing
the Commitment of $2.9 million in Alameda County
Measure A-1 Funds from Dublin’s Base City Allocation
•Authorize the reservation of 308 units from the
Downtown Development Pool
•Provide feedback on the following:
–Proposed development
–Deal terms for the Community Benefit Agreement