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RP Affordable Housing and Community Development has acquired a two-thirds-acre site in Mountain View for a 100-unit affordable housing project. The developer purchased the property at 334 San Antonio Road from an LLC controlled by Mircea Voskerician and Naresh Krishnamoorti, who had previously been approved to build a market-rate apartment building but scrapped those plans. CRP paid $10 million for the site, which features a shuttered gas station.

    The developer now seeks $100 million in public financing to bring the project to life. Plans call for an eight-story complex with 100 one-, two- and three-bedroom apartments for households earning between 30 percent and 70 percent of area median income. The C-shaped building would wrap around a central courtyard, include a ground-level garage, and provide free services through partnerships with nonprofits.

    CRP's managing director of development, Seth Sterneck, notes that securing funding is the biggest challenge in building affordable housing due to lower rents. The developer plans to remove contaminated soil, install a monitored vapor barrier, and partner with nonprofits to offer various services. With public financing secured, CRP can move forward with the project, which would be its eighth in California, including seven completed projects and 10 more in development.