Skip to contentSkip to main navigationSkip to local navigation

Staff Housing Development

In response to regional housing costs that are among the highest in the country, the San Mateo County Community College District has undertaken a number of different initiatives to assist faculty and staff with high housing costs, including building apartments that are rented at below-market rates to District employees and offering very affordable second home loans to first time-buyers.  The District is able build first class, market rate housing andoffer below-market rents because 1) it owns the land (land costs do not need to be included in the cost of ownership or operations); 2) it financed the project with a tax-exempt issue; 3) the property is property-tax exempt; and 4) the District does not have a profit motive.  Rents from the project are set at a level that is sufficient to pay back all costs of construction, financing, maintenance and operations and fund a long-term capital reserve.