2000 Delaware
San Mateo
Project Description

2000 Delaware is a joint venture between Westlake and Palo Alto Partners, LLC. It is a fully entitled 60-unit moderate-rate ”workforce” apartment development on a site owned by The City of San Mateo and leased under a 99-year fully subordinated ground lease. The development includes a mix of two-bedroom two-bath units and two-bedroom one-bath units built upon a one story on-grade parking podium.

Moderate-rate terms require units be rented to tenants who earn less than 120% of county median income. Construction commenced May 2014 and will take approximately 16 months to build. Project stabilization is anticipated in the late Summer 2015.