Tax Credit-Funded Modular-Built Community Marks A First
The first tax credit-financed, modular-built workforce housing development in Northern California, Parkside Studios, has been successfully completed. Designed by Studio E Architects, owned by Charities Housing, and installed by Cahill Contractors of San Francisco, each micro-unit was manufactured in a warehouse in Sacramento before being assembled in Sunnyvale.
Studio E Architects principal John Sheehan tells us, “The units are ideal for a single person; perhaps for those who are recent graduates or are just starting their career. We are seeing some interest among empty nesters looking for an urban setting. We’re also serving the needs of formerly homeless veterans and functional developmentally disabled people as well as a number of other specialized groups.”
The site of Parkside Studios is the former home of the National Guard Armory. Its development was part of a deal between Charities Housing, MidPen Housing and the City of Sunnyvale. The 2.5-acre lot has a total of 121 units across two communities. More than half of the total funding for these communities took the form of low-income housing tax credit equity from National Equity Fund, awarded by the California Tax Credit Allocation Committee.
Each unit is 370 SF, but still includes all the expected amenities of the kitchen and bathroom, utilizing high ceilings and large windows to make the spaces feel open and airy. Future residents of the 58 units will include qualified low-income individuals, single parents and couples. Construction costs for the project totaled $12.8M.