On Feb. 14, Stanford announced that it would contribute $1 million to the Saint Francis Center to assist in the purchase of 25 housing units for residents at risk of displacement in downtown Redwood City. This contribution is part of the ongoing effort to increase affordable housing units in the region.
The purchase allows current tenants of the Benedicere Apartments, located at 780 Bradford Street, to remain in their homes at their existing, lower rental rates. This is part of an effort to eventually convert all units into affordable housing for low-income tenants while existing residents vacate their units. Current tenants will also be able to qualify for affordable housing rates.