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Tech CU Provides $23 Million Construction Loan for New San Mateo Apt. Project

W.L. Butler's 60-Unit Development to Overlook Central Park
February 16, 2018
W.L. Butler, Inc. has secured a $23 million loan through Technology Credit Union (Tech CU) for the development of a new 60-unit apartment building to overlook Central Park in San Mateo, CA.

Located at 885 S. El Camino Real, the four-story workforce housing complex will feature a mixture of one-bedroom units, one-bedroom with a study units, and two-bedroom/two-bath units. Of the 60 apartments, six have been earmarked as below market rate units.

Construction in the project is slated to commence next month with a delivery date scheduled for late 2019.
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