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<br />DRAFT Consolidated Annual Performance and Evaluation Report: FY 2012-2013 <br />City of San Leandro <br />Page 4 <br />SECTION B: INVESTMENT OF AVAILABLE RESOURCES <br /> <br />Objective: Provide Decent Housing <br /> <br />Priority #1. Increase the availability of affordable rental housing for <br />extremely low-, very low-, low-, and moderate-income families. <br /> <br />Activities: <br /> New construction of affordable housing <br />Cornerstone at San Leandro Crossings <br />In FY 2012-2013, the City and non-profit developer BRIDGE Housing Corporation continued to <br />work closely together to move the residential development towards commencement of <br />construction. BRIDGE Housing moved to a site east of the Downtown BART station and <br />redesigned its original plans for The Alameda in order to construct 200, instead of the 100 units <br />originally proposed west of the BART Station, units of affordable rental housing. The project <br />name has also changed for now from The Alameda to The Cornerstone at San Leandro <br />Crossings. The redesign also phases the project into a 115-unit affordable workforce and family <br />building that will be constructed first while a second 85-unit senior housing building will follow. <br />There will also be a ground floor childcare center. Construction of the 115-unit building is <br />targeted to commence in August 2014. <br /> <br /> Acquisition and rehabilitation of affordable housing <br />Lakeside Village Apartments <br />The conversion/renovation from a market-rate property into a tax-credit, affordable housing <br />property of Lakeside Village Apartments, an 840-unit apartment community located on <br />Springlake Drive in San Leandro, continued throughout FY 2012-2013. The owners Standard <br />Lakeside I LP successfully obtained federal/State tax credit financing in 2011, and City subsidy <br />was not necessary. Standard Lakeside continued to income-certify income-eligible households <br />to convert the units into tax-credit, affordable rental units. Standard Lakeside also continued <br />renovating and modernizing the interior and exterior of the entire complex. More than half of <br />the 840 units have undergone successful interior upgrades. Exterior improvements are also <br />underway. All exterior improvements, including the pool areas, clubhouse, leasing office, and <br />landscaping, are anticipated to be completed by December 2013. The rest of the interior <br />upgrades will be completed in Summer 2014. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> Kitchen BEFORE renovation Kitchen AFTER renovation <br />