PALO ALTO (KRON) -- It looks like one of the last mobile home parks in Palo Alto and one of the most affordable places to live will not be sold off and replaced by commercial development after all--at least not all of it.
After months of negotiations, the Santa Clara County Housing Authority has announced a tentative agreement to buy that park for about $40 million.
It's going to be a three-way partnership between the housing authority, the county, and the City of Palo Alto.
The effort had three goals: save about 100 units of desperately needed low-income housing, ensure that the property owner got a fair deal, and to prevent 400 people from being evicted, including about 100 children.
Tenants here have been in limbo, worried what would do if they were evicted.
"It was really stressful to even think about it because to think that we have to move it's more expensive. We know that everywhere around our area is very expensive--even a one-bedroom apartment is over like $1,800 to $2,000," park resident Myra Escalante said. "Being here is like so affordable. So, we were actually really stressed out thinking like, 'Ok, when we have to move, like what's going to happen? And where are we going to go?'"
Myra showed KRON4 a two-bedroom mobile home she shares with her husband and two kids.
Myra says anything comparable in Palo Alto would cost at least three times what they pay now.
The partnership will put up about $29 million, with the federal government kicking in the rest.
The deal is expected to be approved by the housing authority board next week.WHAT OTHERS ARE CLICKING ON:
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