"The project includes a seven-story, 505-unit market-rate apartment building, a five-story, 132-unit, 100% affordable apartment building and 100 for-sale townhouse units configured in 14 three-story buildings. This site's been vacant for many years, and when we were first introduced to this site about two and a half years ago, it was in the time when builders' remedy applications seeking to lower density were abundant, said Scott Connelly, a representative of Valley Oaks Partners."
"The affordable housing building will offer a mix of units from studios to three-bedroom apartments at up to 80% of the area median income (AMI). The AMI in Santa Clara County this year is $195,200 for a household of four people. The 505-unit market-rate building will include 54 studios and 325 one-bedroom units. It also will house 101 two-bedroom and 25 three-bedroom apartments."
San Jose approved a site development permit for Valley Oak Partners' 737-unit multi-phase residential project on a 9.82-acre parcel between 211 and 281 River Oaks Parkway in North San Jose. The project comprises a seven-story 505-unit market-rate apartment, a five-story 132-unit building that will be 100% affordable, and 100 for-sale townhouses across 14 three-story buildings. The developer will demolish three existing buildings totaling approximately 164,606 square feet. Affordable units will be available up to 80% of area median income; Santa Clara County's four-person AMI is $195,200. Market-rate unit breakdown includes 54 studios, 325 one-bedrooms, 101 two-bedrooms, and 25 three-bedrooms.
#north-san-jose #residential-development #affordable-housing #transit-oriented-development #tech-hub-proximity
Read at www.mercurynews.com
Unable to calculate read time
Collection
[
|
...
]