High-density projects bring needed housing to downtown Concord
CONCORD, CA (Oct. 20, 2022) — If the rest of the country is in an economic slowdown, it’s not obvious from a mini housing boom currently underway in downtown Concord. The COVID/supply chain logjam has broken with five projects under construction and another four in the pipeline.
The Grant, a two-block mixed used development on Grant St. between Concord Blvd. and Clayton Road, is nearing its December completion date. The South Grant building with 89 studio and one-bedroom apartments is already about 40% leased at a market rate of around $3800/mo. The North tower, and the main attraction, will open in December with another 139 luxury one- and two-bedroom apartments, roof deck with pool, gym, business center, club house, outdoor leisure areas with fire pits, bicycle parking, and a space for dogs.
Indoor garages have spaces for a total of 328 cars. All apartments will rent at market rate.
The North tower includes 4600 sq. ft. of build-to-suit ground floor retail space along the Grant St. side of the building.
Affordable for families
While the adult-oriented, luxury Grant is well out of budget range for those families in desperate need of affordable housing, just two blocks away Meta Housing Corporation will break ground in December on the Argent, a multi-family 100% affordable housing project designed specifically for this underserved population.
“This is not Section 8 housing,” Councilmember Tim McGallian told the Pioneer. “All units are income qualified, so tenants must be employed.”
Last week, the Concord City Council gave the green light to Meta Corporation to issue up to $85 million in tax-exempt bonds to finance the 181-unit project at 2400 Willow Pass Rd. on the old “Blockbuster” site. Bond repayment is the responsibility of the developer, the city has no liability. The developers must complete construction within 27 months.
The 7-story building will include 80 one-bedroom, 46 two-bedroom, 40 three-bedrooms and 15 four-bedroom units. The average income for the project as a whole is 70% of the area median income (AMI). 12% of the units are for families earning at or below 30% of the AMI. This designation qualifies the project for a state density bonus which allows for reduced parking requirements—188 spaces for the 181 units.
“We recognize the building is under-parked,” McGallian said. “But this is a transit-oriented development right next to the Concord BART station, and we are at the mercy of state law.”
“While parking may be in short supply, it will be good to have this much family-focused, workforce housing downtown,” he said.
Amenities include a rooftop deck with swimming pool, cabanas, and BBQs, a bocce court, playgrounds, bicycle parking and dog washing stations.
Tenants will be selected by lottery as the project gets closer to completion.
Housing for vets, seniors, special needs
Other projects either underway now or in the pipeline include the Avesta, a 132-unit assisted living facility at 1335-1338 Galindo St. All units to rent at market rate.
The Galindo Terrace will provide deeply affordable veteran housing across from the Concord Police Department. There are 39 one-bedroom units, 19 with two bedrooms and four three-bedroom apartments. Twelve units are set aside for homeless vets and one unit for a resident living with HIV/AIDS. On site social services will provide after-school programs, supportive services and health care referrals.
Part of the financing for Galindo Terrace comes from a $7.9 million grant from the city of Concord’s Affordable Housing Fund.
Two more 100% affordable housing applications are currently under review by city staff.
Beacon Development Group is proposing 63 units of senior housing.
Finally, the city is considering 75 residential apartments at 1325 Galindo on the former site of the Nazarene Church— for special needs individuals. The project could potentially house formerly homeless veterans, seniors and the disabled.