Late last month, the Marin County Board of Supervisors voted to approve almost $9.5 million in funding for the refurbishment of 100 Commodore Webster Drive, the old Point Reyes Coast Guard Station, into 54 affordable housing units. The presentation brought by the Marin County Community Development Agency was supported by a number of speakers, including representatives of Eden Housing and CLAM, the developers for the project.
The applicants cited high housing costs in Marin and the need for new affordable developments. Marin County has the highest average unit price of the nine-county region, despite having the 3rd lowest population density, a factor that usually coincides with lower land values. In West Marin, where the project is located, 25% of renters are considered severely housing cost-burdened, spending more than 50% of their income towards housing.
Bay Area Housing Price by County with 100 Commodore Webster Drive Marked, image from MCCDA, edited by Gabriel Clark-Clough
The existing facilities and infrastructure make the former Point Reyes Coast Guard Station an appealing location for conversion into new housing. In 2019, the County purchased the site from the Coast Guard for $4.3 million, specifically to be used for affordable housing, but delays caused by federal approvals and the COVID-19 pandemic have slowed progress. However, if the project is successful, it will have the potential for faster replication elsewhere, with Supervisor Lucan mentioning the shuttered Coast Guard property in Novato as a possible future project based on the Point Reyes model.
The funding for the project will come from two sources, including $4.9 million from Measure W and approximately $4.5 million from the housing trust, in addition to the $900,000 already allocated from them. The funds are offered as a loan, with favorable terms for repayment. Additionally, the property will be sold to the Developer for only $1.00, subject to the provisions of the Surplus Land Act.
100 Commodore Webster Drive Sample Building Front, image from MCCDA
100 Commodore Webster Drive Aerial Overview, image from MCCDA
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