The Foothill-De Anza Community College board of trustees has approved the purchase of a Cupertino apartment complex, which is set to be transformed into student housing.
The complex will be purchased in July, and ready for use in the fall according to Ellen Kamei, the district director of community and government relations.
Located 0.3 miles away from De Anza College, the McClellan Terrace Apartments include 94 units and can provide housing for up to 332 students. Students from either college can rent out units for a set price, significantly lower than market value.
Peter Landsberger, a member of the board of trustees, says this plan was proposed due to a high cost of living.
“It’s become clear to us [the Foothill-De Anza district] over the last many years that … housing insecurity is getting in the way of them [students] from reaching their educational goals,” Landsberger said.
The cost of purchasing and renovating the complex will be roughly $95 million. The district has set aside money from its Measure G Bond Program, which will go toward the renovations, according to Landsberger.
Landsberger also says that the program was not created with the intention of making a profit.
“We’ll be charging rent that covers the ongoing maintenance that the facility requires over time,” Landsberger said. “It [the program] will not be a revenue-generating undertaking for the district.”
However, the plan may not be enough to meet the demands of the 2,000 students believed to be interested in applying for this housing alternative.
An additional 1,048 beds and 407 units have been requested for students, the families of students and employees of the two colleges. So far, the district does not have any plans to address this in the near future.
Current tenants will have a maximum of 12 months to relocate from the building.
Rachel Green, 43, has lived in the apartment complex since June of 2004. Green said she understands why the purchase was made, but is worried how this sudden plan will affect tenants.
“I’m excited for the opportunity for students to be able to have affordable housing,” Green said. “It just puts families who are renting because of the cost of the apartments into a scramble.”
Shourya Doddabommannavar, 9, has been living in the building for two years and is against the purchase of the complex.
“The management wants money so they’re just selling, and they are not thinking about the tenants,” Doddabommannavar said.
The district is coordinating with a neighborhood director to find solutions for current residents.
“We [the district] understand that it [the plan] will impact those living at the complex, and want to make sure that current tenants and families have services and access to schooling,” Kamei said.