Affirmed Housing Breaks Ground On New, Affordable Community In San Mateo County

(MENAFN- GlobeNewsWire - Nasdaq) Monarch at Redwood to bring on-site support and lasting stability for families and individuals to North Fair Oaks Neighborhood

SAN MATEO COUNTY, Calif., Sept. 03, 2025 (GLOBE NEWSWIRE) -- Affirmed Housing, a leading provider of affordable housing throughout California, announces that construction has commenced on Monarch at Redwood, a new, $70.4M, affordable housing community located in the North Fair Oaks neighborhood. Once completed, Monarch will feature 86 sustainably conscious apartment homes with onsite services and amenities for households earning less than 60 percent of the area median income.

“I'm so proud that Monarch at Redwood is in my district and in my backyard! In a region where affordability is becoming increasingly rare, this project shows what's possible when the County, community, and development partners come together with shared values and purpose,” said San Mateo County District 4 Supervisor Lisa Gauthier.

Monarch will be a six-story development with thoughtfully designed studio, one-, two- and three-bedroom apartment homes. Of the total 86 apartments, 39 are designated Permanent Supportive Housing (PSH) for residents participating in Healthy Housing California (HHC) and Mental Health Services Act (MHSA) programs, ensuring critical housing access for those most in need.

“Our goal with Monarch is to strengthen North Fair Oaks by providing housing and support that allow residents to stay close to friends, schools, and the local businesses, keeping the heart of the community vibrant and inclusive,” said Jimmy Silverwood, president at Affirmed Housing.“This project will create homes where people can truly put down roots. We're grateful to all our partners who share this vision and help make it possible.”

Promoting energy efficiency and affordability, each home will be equipped with Energy Star-rated appliances, and rooftop photovoltaic panels will help offset the property's utility costs. Several shared amenities will be featured throughout the property, including secure bike storage, parking spaces, and a welcoming lobby with a mail room, all situated on the building's ground level. On-site laundry facilities are located throughout the building, and a landscaped courtyard and a community room provide space to host gatherings and events. Signature to Affirmed Housing projects, Monarch is placed within a high resource area, allowing residents easy access to off-site amenities, such as public transit, grocery stores, restaurants, and retail businesses.

In addition to housing, Monarch residents will have exclusive access to adult education programs focused on job training, career development, and health and wellness. Those experiencing mental and physical health challenges will have access to dedicated on-site service coordinators and a robust network of wrap-around supportive services provided in partnership with local organizations, like the Mental Health Association of San Mateo County (MHA).

Funding for Monarch comes through a collaboration of key financing partners, including Lument, Redstone Equity Partners, First Citizens Bank, the County of San Mateo, Housing Trust Silicon Valley, Corporation for Supportive Housing, the California Debt Limit Allocation Committee (CDLAC) and the California Tax Credit Allocation Committee (CTCAC).

Affirmed Housing's development partners for Monarch include HA Builder Group, Van Meter Williams Pollack, BKF Engineers, DCI Engineers and Jett Landscape Architecture + Design.

About Affirmed Housing

Affirmed Housing is a leader in affordable, multifamily housing development, delivering safe, sustainable, high-quality communities for families, veterans, seniors and people experiencing homelessness. The company works with municipalities and private owners throughout California to promote housing stability and neighborhood well-being by leveraging deep expertise in public finance, low-income housing tax credits, and tax-exempt bond finance, as well as site selection, engineering, architecture, construction, relocation and marketing. Since 1992, Affirmed Housing has financed nearly $3 billion in affordable and supportive development, with more than 6,000 apartment homes developed or under development in more than 75 communities. The company has offices in San Diego and San Jose. Visit: .

CONTACT: Contacts: Vicky Jay Blattel Communications 415.413.4526 ...

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