MORGAN HILL, CA – Mayor Steve Tate joins nonprofit affordable housing developer and manager EAH Housing, other elected officials, and business leaders for the grand opening of Bella Terra on September 24 from 11 a.m. to 1 p.m. This new amenity-rich community offers affordable rents to adults 55 and older. Bella Terra is located at 235 E. Dunne Avenue, across from the Morgan Hill Community Center.
“Bella Terra is an absolutely beautiful community that surpasses our expectations,” said Mayor Tate. “In working with nonprofit organizations such as EAH Housing, Morgan Hill continues to provide an assortment of housing opportunities to meet the needs of families and seniors at all income levels.”
Rents at Bella Terra range from $713 to $910 based on earned income.
“We’re pleased to open the doors to Morgan Hill’s newest close-knit community Bella Terra, a place where older adults can truly thrive,” said Mary Murtagh, EAH Housing president and CEO. “Thanks to the City of Morgan Hill, Merritt Community Capital, Silicon Valley Bank and our other funding partners, we’re able to continue our mission and serve.”
Bella Terra is a GreenPoint Rated building and incorporates green features including solar photovoltaic panels, solar thermal hot water pre-heating and energy-efficient windows, lighting and appliances. The building fronts a large courtyard with a community garden and outdoor activity area. The three-story structure features an elevator for easier mobility and four apartments are fully ADA accessible.
Residents can take advantage of additional apartment amenities such as a community room, media/social room, fitness area, an indoor bicycle storage area and nearby restaurants and shopping center.
“Merritt Community Capital is proud to partner with EAH Housing to create an inspiring energy-efficient community for Morgan Hill seniors. We share a significant goal of increasing the supply of affordable rental apartments,” said Bernard Deasy, president of Merritt Community Capital Corporation. “By working together, we can achieve anything.”
Bella Terra is the result of a public-private partnership between EAH Housing, the City of Morgan Hill, Merritt Community Capital Corp., Silicon Valley Bank, California Housing Finance Agency (CalHFA), County of Santa Clara, Federal Home Loan Bank, and California Community Reinvestment Corporation.
“Silicon Valley Bank (SVB) has a long tradition of community involvement and support,” said Christine Carr, SVB community development finance manager. “At SVB, we pride ourselves on providing solutions not just to the businesses in the communities we serve, but also to the communities themselves and making a difference in our communities. We’re proud to play a vital role in Bella Terra’s success and making an incredible impact on so many lives within community.”
In addition to serving the role as developer, EAH Housing will provide property management services.