The Below Market Rate (BMR) Housing Purchase Program is a part of the Palo Alto Comprehensive Plan. The purpose of this program is to create and retain a stock of affordable housing in Palo Alto for people of low and moderate income.
When a development of five or more residential units is built in the City of Palo Alto, the developer is required to contribute at least 15% of those units at below market rates (projects of 7 or more units must provide one or more BMR units within the development). The initial BMR sales prices are set by the City's Director of Planning and Community Environment, and the buyer selection process is administered by the Palo Alto Housing Corporation (PAHC). PAHC is a private, non-profit organization under contract to the City. For additional information or to complete the waiting list application, please click the link for the PAHC website.
Last Updated: Mar 18, 2015
Housing Element Update 2015 - 2023 The City completed and adopted the 2015-2023 Housing Element on November 10, 2014. The California Department of Housing and community Development certified the City's Housing Element on January 20, 2015. The 2015-2023 Housing Element is the chief policy document describing the City's housing needs, policies and programs. [more]
2014 Notice of Funding Availability The City of Palo Alto is pleased to announce a Notice of Funding Availability for affordable housing. Up to $6 million is available for new affordable rental and ownership housing. A complete description of the NOFA process is provided in the NOFA application package. The NOFA Application Workshop will be held on June 5, 2014, starting at 10am, in the City Council Conference Room, 1st Floor of City Hall, 250 Hamilton Ave. [more]
This report contains analyses to support the City of Palo Alto’s Below Market Rate (BMR) Housing Program Update. The City had solicited the services of housing and economic consultants with experience in inclusionary housing programs, affordable housing program administration, real estate finance and market economics to provide independent and objective analyses and recommendations on specific questions and issues to serve as input to the City’s BMR Program.
The City updates the BMR prices annually. The new prices for 2008 are effective as of March 31, 2008 and apply to BMR units in projects receiving final planning entitlement approvals
