CDF Case Study

Project Scope

Alta Torre Apartments is a 100% affordable 56-unit senior rental project developed by Bridge Housing Corporation in Palo Alto, CA.

Adjacent to the project is the Taube Koret Campus for Jewish Life.  Residents are able to make use of the amenities available including senior friendly wellness programs and physical activities, attending concerts, plays, lectures, or discussions groups, and use the Oshman Family Jewish Community Center's new state-of-the-art fitness center and pool.

Services are provided by the Silicon Valley Council on Aging and Palo Alto-based Avenidas.  Residents have access to comprehensive health services including adult day care, coordination of in-home services, case management, and a variety of other community programs at nearby off-site locations conveniently accessed by a free shuttle service. 

Lending a Hand

The four-story building provides 55 one-bedroom units serving seniors earning 25%-40% of AMI ($18,575–$29,720 for one person) in Santa Clara County.  

Helping Finance

SVB provided a $10,141,355 tax-exempt bond purchase loan for construction.

Results

The project was completed in May 2010.