In a significant move, Mill Valley approves first affordable housing development – a first in the past three decades for this Marin County town. The Bayfront Terraces project, situated at 1 Hamilton Drive, gained approval during a recent city council meeting.
The four-story development is slated to feature 44 housing units, encompassing one-, two-, and three-bedroom options. Rent expectations range from $978 to $2,908 per month, catering to low-income residents earning approximately $40,000 to $130,000 annually.
Managed by the San Rafael-based nonprofit developer EAH Housing, the project addresses the growing need for affordable housing in the region. Mill Valley Mayor Urban Carmel emphasized the city’s commitment to this cause, noting the challenges faced in recent decades due to limited land availability and financing difficulties.
Carmel expressed excitement about the Bayfront Terraces project, calling it a significant milestone. He explained that the city has been actively seeking such opportunities since 2016, with the site’s discovery in 2021. Another 100% affordable housing development is reportedly in the early stages, with Carmel hopeful to share more details by year-end, emphasizing the collective impact multiple projects can make.
Despite the approval, construction is not expected to commence until 2026 or 2027, with a projected completion date in 2028. The development signifies a positive step toward addressing the longstanding housing challenges faced by Mill Valley’s residents.