Devries Place Senior Apartments was recognized by the Urban Land Institute (ULI) as a 2009 Awards For Excellence: The Americas winner for its efforts on land planning use, design and sustainability. The 103 unit rental apartment homes located in Milpitas, California, near the southern end of San Francisco Bay, provides housing and amenities for low and very low-income seniors age 62+. Part of the funding for the project was completed by NEF which invested $15 million in equity in the project through a fund capitalized by Fannie Mae.
“We are extremely proud to have DeVries Place recognized by ULI as a model for best-practices in land use planning, design, sustainability and smart growth,” said Matthew O. Franklin, President of Mid-Peninsula Housing. “Through a visionary partnership with the City of Milpitas, we intentionally designed and developed an affordable, environmentally-friendly, pedestrian-oriented community to help transform the Milpitas downtown area. It is wonderful that this innovative collaboration and development has been honored.”