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City of Pleasanton -Below-Market Rental IIousing Opportunities F! ~LFA8.4NT.'W. IN THIS SECTION Affordable_HOUSing. Developments _and Programs Housing_Statistics Permitting for Housing Citk Planning Services YOU MAY WANT ... Affordable Housing Search Ci[y Records Pleasanton Community Visiting Pleasanton WHAT'S NEW Recently Visited > Affordable Hag > Maior Apartment Complexe.._ > Housing. Statistics > A_fforda_ble.HOUSing Devel ._ > Below_Market Rental Hous.,, Below-Market Rental Housing Opportunities Page 1 of 3 d ~ ry'~'~y _... - Vl City Below-Market Rental (BMR) Program The City encourages the construction of affordable rental housing by allowing special consideration for projects which provide rental apartment units at below- market rent levels. Nearly 1,000 below-market rental (BMR) apartment units have been built since the mid-1980's, including one new 100-unit complex by Greenbriar Homes that includes 31 BIMR units and opened in late summer 2002. Newsroom ~ Where are City BMR apartment units /ocated? 7 The rental apartment developments with BMR units are located throughout Pleasanton. The location and other details about each complex are listed in the table which follows this section. What rents are charged for BMR apartment units? A January 2004 City survey of market rents being charged in apartments throughout Pleasanton showed a range of approximately $900 to $1,800 for two- bedroom units ($850 to $1,500 for one-bedroom units). On the average, rents charged for BMR apartment units arc' approximately twenty to thirty percent less than market rents in the same complex (in complexes that offer BMR units). As of January 2004, the maximum rent: that can be charged for most BMR units is $1,315 for aone-bedroom unit and $1,644 for atwo-bedroom unit. These levels are considered to be affordable to a household with 80% of the median income for Alameda and Contra Costa counties. The actual rents charged for BMR units by each complex may be less than the maximum allowed rents. Maximum allowed rent levels are adjusted annually based on new information from the federal government. Do I qualify? In order to qualify to rent a BMR apartment, your income must generally not exceed 80% of the local median income level (several of the complexes also have apartments for households at 50% and 60% of median income). As of January 2004, the maximum annual income for most BMR units is $46,050 for aone- person household, $52,600 for two persons, $59,200 for three persons, and $65,750 for afour-person household. The maximum income levels for other household sizes can be obtained from property managers or from the City's Housing Division. Qualifying income levels are adjusted annually based on new inform atinn from tha fa Haral nnvarn rriant http://www.ci.pleasanton.ca.us/community/housing/below-market-rental.html 2/ 19/2009 COMMUNITY BUSINESS GOVERNMENT SERVICES