TSO Opens New Affordable Housing Community

Mar 19, 2026

FOR IMMEDIATE RELEASE

The Sobrato Organization Opens New Affordable Housing Development in Redwood City

The Millton is The Sobrato Organization’s first ground-up affordable housing project developed in support of their Housing Security Initiative

REDWOOD CITY, CA, March 19, 2026 — Today, The Sobrato Organization (TSO) celebrated the opening of The Millton, a new affordable housing development in Redwood City, marking another important milestone in the organization’s Housing Security Initiative (HSI). The Millton is TSO’s first ground-up affordable housing project, part of the organization’s long-term commitment to advancing housing stability, dignity, and opportunity for low-income and housing-insecure families across the Bay Area.

Through HSI, The Sobrato Organization aligns its philanthropic resources, impact investments, real estate capabilities, and community partnerships around a shared goal: ensuring that families facing housing instability can access safe, affordable homes and the conditions needed to thrive.

“The Housing Security Initiative represents a commitment to doing this work differently and for the long term,” said Tony Mestres, CEO of The Sobrato Organization. “We are bringing together the full strength of The Sobrato Organization, across philanthropy, real estate, and capital, and leveraging community and regional partnerships to help create solutions that are durable, scalable, and rooted in community.”

Rather than treating housing as an isolated issue, HSI is designed to address the interconnected challenges that place families at risk of displacement or homelessness. By pairing affordable housing with sustained investment in higher education, good jobs, and a strong non-profit sector, HSI is attempting to address the root cause of the economic instability that too many families in our region face.

The Millton is a key milestone to delivering this long-term–vision, demonstrating how coordinated investment and collaboration can translate into high-quality homes, stronger communities, and new pathways to opportunity for families who have been priced out of the region.

“This moment is about more than opening a single building,” said Adam Briones, Director of the Housing Security Initiative at The Sobrato Organization. “It signifies a major milestone in the creation of a holistic solution to the housing crisis. The Millton reflects a belief that housing is foundational to a person’s ability to thrive, and that solving the housing crisis requires long-term commitment, cross-sector collaboration, and solutions built in partnership with communities.”

Located within walking distance to downtown Redwood City, The Millton is an affordable housing community in Redwood City offering units ranging from 30% to 80% of Area Median Income. For a family of three in San Mateo County, this equates to annual incomes ranging from $52,900 at 30% AMI to $141,000 at 80% AMI. It offers convenient access to public transportation and Highway 101. The property includes 120 homes, including one, two and three bedroom layouts with wood plank flooring, soaking tubs, stone countertops, stainless steel appliances and recessed lighting.

Community amenities include a 24-hour fitness center, onsite laundry, a business center with computers and printing capabilities, outdoor living spaces with barbecues, a resident lounge with seating, media and a kitchenette, in addition to tailored resident services and access to childcare services that will be provided through a partner tenant later this year .

"The Millton is exactly the kind of investment Redwood City has been working toward: housing that keeps families rooted in their community. I grew up in this city knowing what it means when families can stay, when children can grow up with stability, and when neighbors don't have to choose between affording rent and staying close to the people and places they love.” said Mayor Elmer Martínez Saballos, City of Redwood City. “Thanks to the Sobrato Organization and our partners, 119 families will now have that opportunity right here in Redwood City."

Why Housing Matters

Housing insecurity is one of the greatest challenges facing Silicon Valley:

The region lacks 118,000+ housing units affordable to people making below 120% of the Area Median Income
173,000 households in San Mateo and Santa Clara Counties are rent burdened
Families with young children are especially vulnerable – 18,100 households with children under six spend more than they can afford just to say housed

Launched in 2022, TSO’s Housing Security Initiative impact to date includes:

The acquisition and conversion of more than 360 market-rate rental units into safe, dignified affordable housing in San Mateo, Santa Clara, and Alameda Counties
Anchor investment in and co-creation of the Bay Area Housing Innovation Fund, which recently announced an increased fund size of $100 million, unlocking the ability to develop more than 1,000 new affordable homes across the Bay Area over the next two years
Support of statewide policy efforts that make it easier and faster to build affordable and/or supportive housing for low-, moderate-, and middle-income families

The ribbon-cutting brought together The Sobrato Organization’s leadership, community partners, local government leaders, and neighbors to celebrate the opening of The Millton complex and to recognize the power of public-private partnerships to uplift Bay Area communities and help address the ongoing affordable housing crisis.

About The Sobrato Organization
The Sobrato Organization (TSO) is a multi-generational, family-owned firm based in Silicon Valley. For nearly 70 years, the Sobrato family has been developing commercial real estate for high-growth companies, building multi-family communities, investing in entrepreneurial enterprises and giving back to the communities in which the family lives and conducts business. TSO is comprised of three synergistic enterprise units, Sobrato Real Estate, Sobrato Philanthropies and Sobrato Capital, all serving one common mission: to build a more equitable and sustainable world through business and philanthropic leadership.

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