Fremont Breaks Ground on Centerville Plaza Housing
The $175 million development will add 290 affordable units near the Centerville Train Station.
Updated on Nov. 10, 2026 in Construction
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Developers and Fremont officials broke ground Wednesday, Nov. 4, on Centerville Plaza, a 290-unit affordable housing project at Fremont and Peralta Boulevards. The city donated $12.85 million to the $175 million project, with additional funding from Bank of America, City Community Capital, Bay Area Housing Innovation Fund and Housing Trust Silicon Valley.
Why it matters
The project is one of six affordable housing developments started this year, adding units for families and individuals earning between 30% and 80% of the area median income. It targets a long-vacant lot in Fremont's Centerville district.
The $175 million project is about 7% funded by the city's $12.85 million donation, with the remainder from private lenders and housing funds. Completion timing and final rent levels were not specified at groundbreaking.
The players
USA Properties Fund
USA Properties Fund is the developer of the Centerville Plaza affordable housing project in Fremont.
Bank of America
Bank of America is a major national bank that is providing financing for the Centerville Plaza project.
Housing Trust Silicon Valley
Housing Trust Silicon Valley is a regional nonprofit that provides funding for affordable housing in the Bay Area.
The details
USA Properties Fund stepped in after earlier plans to develop the land fell through. The development will offer one-, two- and three-bedroom units and more than 5,000 square feet of ground-floor commercial space, with the lot once home to Centerville's first fire station before its 2019 demolition.
Timeline
2019: The first Centerville fire station on the lot was demolished.
2025: Five affordable housing developments began in Fremont.
Wednesday, Nov. 4, 2026: Groundbreaking for Centerville Plaza.
Market Landscape
Centerville Plaza is one of six affordable housing projects Fremont has started this year, extending the five developments that began in 2025. The mix of city subsidy and private lending reflects how Bay Area affordable projects are typically financed.
Fremont residents earning between 30% and 80% of area median income may qualify for the 290 new units once the project is complete. Commuters using the Centerville Train Station will have the development directly across the street.
The takeaway
Affordable projects like Centerville Plaza depend on layered funding, with public money often serving as the anchor that makes private lending possible. Watch for completion timelines and rent schedules as the project advances.
Further reading
For more on local building activity, see Fremont Construction coverage.
Source note: This article includes information reported by Tri City Voice.
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