Board of Supervisors to hold public hearing January 27 about bond financing.
Updates and information about the Marin City project can be found on the 825 Drake webpage. Shoreline Highway project updates and information can also be found online.
A major milestone in housing delivery is underway in Marin City as pre-built apartments are installed at 825 Drake Avenue. Over the coming weeks, modular building sections will be lifted into place, transforming what is now a foundation into a five-story apartment building.
The installation of modular units marks a significant step forward for the 42-unit affordable housing project and reflects a faster, more efficient approach to building housing at a time of urgent need across Marin County.
Beginning January 22 and continuing through mid-February, modular units will arrive by truck and be set by crane during daytime construction hours. Construction is scheduled Mondays through Fridays, 7 AM to 6 PM. No weekend work is expected during this phase. Dates are subject to change and may be extended if there are weather delays.
During installation, neighbors near 825 Drake Avenue should expect temporary parking restrictions, daytime construction noise, and short traffic delays. Street parking along the affected portion of Drake Avenue will be unavailable from 6 AM to 7 PM with overnight parking available. Drivers should also expect short delays as trucks move between a nearby staging area and the construction site. Up to four transportation trucks may be staged along Drake Avenue.
Weekly updates will be posted on the County project webpage and on the developer’s website[External]. Questions? Call 986-279-1247 or email the developer.
The new building at 825 Drake is taking shape in more ways than one at this time. The Marin County Board of Supervisors will hold a public hearing January 27 about proposed tax-exempt bond financing for the 825 Drake project and a second, related project on the parcel at 150 Shoreline Highway in unincorporated Tam Junction area.
The hearing is required under the federal Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) before tax-exempt bonds can be issued.
In 2023, tax-exempt bonds were approved for a 74-unit project at 825 Drake, but that project was modified to a 42-unit project with the remaining 32 units to be developed at near the junction of Highway 101 and Shoreline Highway at an address now assigned as 156 Shoreline Highway. Because the project now includes two separate sites, the new TEFRA hearing is required and the prior bond approval must be updated to include the second location.
The Board will consider the applicant’s request that the California Municipal Finance Authority (CMFA) issue tax-exempt bonds totaling no more than $60 million. Bond proceeds would be $39 million or less for the 42 units at 825 Drake and $21 million or less for 32 units at 156 Shoreline Highway. This request carries out an agreement between the County and the developer to relocate a portion of the units to a second site to reduce the project size in Marin City.
