Community Development Partners recently announced via a press release that they have begun construction on an affordable housing project in downtown Fremont.
Dubbed “Canvas,” the complex will contain 92 units available for households earning 30%–70% of the area median income, intended for families, seniors and people with disabilities. It will be located at 39340 Fremont Boulevard, near the Fremont Hub.
Units will range from studios to
Fifteen homes will be designated for households including a person with an intellectual or developmental disability, through a partnership with the California Department of Developmental Services and Regional Center of the East Bay.
According to the city’s General Plan and 2023–2031 Housing Element, Fremont needs to create nearly 13,000 new homes including 7,000 affordable units.
Canvas takes a “Community For All Ages” approach with shared spaces and programming intended to bring neighbors of different ages together. Gathering spaces include two courtyards and a ground-floor community room.
On-site services will be provided for free to residents, organized by Project Access. Planned programs include tutoring and health and wellness classes.
The development costs approximately $59 million. It’s financed through a 4% Low-Income Housing Tax Credit allocation with equity investment by Bank of America, $11 million from the City of Fremont and $1.5 million from the California Department of Developmental Services. Bank of America is providing construction financing and Citibank is the permanent lender.
