Affordable Housing

Caltrain Board to Vote on New Affordable Housing Policy

NBCUniversal, Inc.

Caltrain officials are set to vote on a new policy that would bring more affordable housing to its stations.

The Caltrain Peninsula Corridor Joint Powers board meets at 9 a.m. in San Carlos, and housing advocates are expected to speak, as are opponents concerned about such developments reducing parking and increasing congestion around the stations.

Housing advocates say they’re also going to push for Caltrain to apply all its parcels of land as open to housing instead of a small fraction. That is part of the new policy under consideration.

The housing advocates will ask Caltrain to first work with affordable housing developers who commit to 100% affordable housing. If that doesn’t work, then other developers should be required to provide at least 30% affordable housing, advocates say.

Staff recommedations are that any residential development will be required to offer at least 20% of units onsite at below market rents, with at least 10 percent of units targeted to households with incomes of no more than 80% of area median income and at least 10% of units targeted to households with incomes of no more than 50% of area median income.

In San Carlos, a mixed-use development was completed in 2019 in a space once occupied by a Caltrain parking lot. It includes about 200 units and 26,000 square feet of commercial space. It wasn't immediately clear how many of the residential units were designated as affordable housing.

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