Ensemble entitled and obtained City Council approval for a 150 unit 100% affordable housing project that fulfills Ensemble’s affordable housing requirement for four of its projects in the district.
Ensemble sold the 150 unit project to affordable developer USA Properties Fund while retaining ownership of 5,000 SF of retail in the project, along with control of the front-facing 9,000 SF pedestrian paseo and activity area. Currently, the retail component is programmed for a tenant such as a brewery/food restaurant with outdoor dining. Ensemble continues to consult with USA Properties on the development. The project is in part being financed by Google’s affordable housing fund.
In addition, Ensemble, Related, and USA Properties Fund also worked together with the City to fulfill Related’s affordable housing requirement in the district with this project.
Tasman East District
Located at one of the most prominent sites in all of Silicon Valley, The Tasman East District is a new state-of-the-art, mixed-use community that will include 4,500 units and 50,000+ SF of commercial retail space at full build-out. Tasman East is within walking distance of a light rail stop, a heavy rail stop, a multi-modal transit depot, 95 acres of open space with a natural preserve and multiple parks, and is adjacent to Levi’s 49er’s Stadium and The Related Companies’ City Place — a $6.5+ billion mixed-use development. In total, Ensemble has a collection of six distinct projects in Tasman East, in which it controls 1250+ units, 40,000 SF of retail, 40,000 SF of creative space, and 40,000 SF of public open space.