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In August, the City announced a Notice of Funding Availability (NOFA) for the creation of affordable housing in Fremont. Approximately $30 million in funding is available for new construction of affordable rental developments or substantial rehabilitation of existing market rate developments for the purpose of creating new affordable rental housing for extremely-low, very-low, and low-income households who earn no more than 80% of the area median income.
View a copy of the NOFA.
Proposal Submissions
After preliminary review of the proposals received, the following proposals passed the submittal requirements.
| Applicant | Project Site Address | Funding Request |
| Community Development Partners | 39340 Fremont Blvd. | $10,000,000 |
| Danco Group of Companies | 3811 Washington Blvd. | $10,261,555 |
| Eden Housing | 5400 Farwell Pl. | $14,000,000 |
| The Pacific Companies and Maracor Development | 44960 Warm Springs Blvd. | $12,000,000 |
| USA Properties Fund, Inc. | 37358 - 37494 Fremont Blvd. | $25,000,000 |
Timeline
| Action | Date |
| City releases NOFA | August 2023 |
| City hosts Pre-Proposal Informational Meeting | August 30, 2023 |
| Proposals due | October 31, 2023 |
| City completes review of proposals | November 21, 2023 |
| City conducts applicant interviews | December 6, 2023 |
| City awards funding | March 19, 2024 |
| City negotiates loan and regulatory agreements (tentative) | Late March 2024 |
| City approves loan and regulatory agreements | June to July 2024 |
Funding Award
At their regularly scheduled meeting on Tuesday, March 19, 2024, the Fremont City Council awarded $34 million in funding to help support the construction of over 450 low-income rental units in Fremont.
The funding will aid in the development of the three projects below. Although the funding award represents a significant milestone, these projects will still need to undergo a comprehensive development process before construction can begin.
- A 150-unit project located at 37440 – 37482 Fremont Blvd. in the Centerville District; proposed by USA Properties Fund, Inc. ($12.85 million in City funding)
- A 240-unit project located at 45021 Warm Springs Blvd. in the Warm Springs District; proposed by The Pacific Companies and Maracor Development ($12 million in City funding)
- A 96-unit project located at 39340 Fremont Blvd. in the Downtown District; proposed by Community Development Partners ($10 million in City funding)
Pre-Proposal Informational Meeting
A Pre-Proposal Informational Meeting about this NOFA was hosted on August 30, 2023. The presentation slides from the meeting are available below.
Frequently Asked Questions (FAQs)
For information about the City's 2021 NOFA process and the funding awards, please read the City Council Staff Report.
Questions