More than 300 units of affordable housing could be coming to four sites across the South Bay.
The Santa Clara County Board of Supervisors gave final approval for the county to buy two sites in San Jose, one in Santa Clara and another in Morgan Hill, the Mercury News reported. The land will be leased to prospective builders to cut down on total project costs.
“If there is an opportunity to save in the total development costs, we’ll try that,” said Consuelo Hernández, the director of Santa Clara County’s Office of Supportive Housing. “It’s a chance to save money. Land expenses can drive up the costs significantly.”
According to the plans, San Jose will get 171 units total. Some 91 units will be built as part of Algarve Apartments at 1135 East Santa Clara Street and 80 will make up Roosevelt Park Apartments at 21 North 21st Street, just east of downtown.
Santa Clara will get 80 units in the new Kifer Senior Apartments at 3335 Kifer Road and another 73 units will make up the Royal Oaks Village at 15440 Monterey Road in Morgan Hill.
Santa Clara County already bought two other properties in San Jose that will be leased back to project developers for $1 per year. The developers — and not the county — will be responsible for completing the projects, including investments and construction costs.
Mariposa Place will yield 80 affordable apartments at 750 West San Carlos Street between Sunol and McEvoy streets. Humboldt County-based Danco Group is developing that project.
The other property, at 3090 South Bascom Avenue, will become the 79-unit Vitalia Apartments. An alliance of Compass for Affordable Housing and San Diego-based Affirmed Housing are developing the project and was granted about $46 million in construction financing from MUFG Union Bank.
Construction on the Vitalia and Mariposa developments is scheduled to begin this month, according to Hernández.
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