County Selects MidPen Housing to Design New Affordable Homes in San Carlos

REDWOOD CITY - As housing pressures intensify across the Peninsula, San Mateo County supervisors have approved the next phase of a project that promises to bring new affordable homes to San Carlos.

The action allows MidPen Housing to begin designing a new housing community on three County-owned parcels in the 600 block of Walnut Street, a site near the city's busy downtown and within easy reach of schools, jobs and transit options. Under the County's development objectives, the project will include a minimum of 75 affordable homes.

"The County is excited to move forward on this project and to work with our partners in the City of San Carlos and now, MidPen Housing," said County Executive Mike Callagy. "Together, we share in our collective goal to provide affordable housing to benefit our San Carlos residents."

MidPen Housing, one of the region's most experienced affordable housing developers, has partnered with San Mateo County on several high-profile projects and has a long record of building and managing communities that serve low-, very low- and extremely low-income households. The Walnut Street development would extend that work, with homes reserved for households earning up to 80 percent of area median income under a long-term affordability covenant.

"It's an honor to be selected to realize the ambitious vision for this downtown site," said Matthew O. Franklin, President and CEO of MidPen Housing. "We applaud the County and City's leadership and commitment to affordable housing, and look forward to engaging with local stakeholders to create a community that will reflect shared priorities and serve generations to come."

The County acquired the parcels - 626, 640 and 648 Walnut Street - in 2024 with the goal of creating new affordable housing in a transit-rich part of San Carlos. The Department of Housing issued a Request for Proposals earlier this year seeking a developer with proven experience designing, financing and operating long-term affordable housing.

"The City of San Carlos is pleased to partner with the County of San Mateo in reimagining this vacant site to deliver much-needed affordable housing for our residents and public employees," said San Carlos Mayor Pranita Venkatesh. "Its proximity to downtown and transit makes it a key opportunity site for advancing our affordable housing goals. We appreciate being included early in the developer selection process and look forward to working with MidPen Housing as we begin planning for this key affordable housing initiative."

Ten qualified developers submitted proposals. Following interviews, the committee unanimously recommended MidPen Housing, citing its strong track record, deep financing experience and thoughtful design strategy.

With the Board's approval, County staff and MidPen Housing will move forward with community engagement in 2026, to shape the project design and prepare for entitlement applications for review by the City of San Carlos.

Jessica Stanfill Mullin
Department of Housing
650-363-4663
[email protected]