San Jose Housing Horizon: In the ever-evolving landscape of Downtown San Jose, the plot at 675 E. Santa Clara St. stands on the cusp of transformation. Core Companies and Eden Housing have ambitious plans to reshape this parcel into a haven of affordable housing. The vision encompasses 113 multi-family affordable housing units, catering to diverse needs64 units dedicated to senior citizens and 36 offering below market rate (BMR) townhomes for sale.
However, the proposal encounters a wave of dissent from local housing advocates, particularly regarding the building height. Criticisms abound, arguing that the project lacks the requisite stature and density befitting a new Downtown endeavor. Initially slated to feature a couple of four-story buildings and an impressive 13 to 16 story high-rise, the revised plan takes a more modest approacha reduction to an eight-story midrise, accompanied by five and three-story structures. Catalyze SV, a local nonprofit championing community engagement, withholds its support for the project in its current form.
It’s essential to note the geographical nuances; this development isn’t nestled directly on Santa Clara Street but rather on St. John St., residing 10 blocks away from the prominent San Jose City Hall. Positioned equidistant from the heart of Downtown and Little Portugal, this parcel’s potential has sparked debate. While some lament the absence of another towering structure and maximal affordable housing density, others argue that even a measured enhancement in affordable housing and density is a step forward given the available developable land in the vicinity. The deliberations underscore the intricate balance between envisioning an ideal skyline and addressing the pressing need for inclusive housing solutions in the city’s evolving landscape.
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Our Reader’s Queries
Why is housing so expensive in San Jose?
San Jose’s housing prices are 26% higher per unit compared to neighboring counties like San Francisco and Alameda. This is due to a shortage in the labor market and differences in wage structures, according to a recent report.
Are they building affordable housing in San Jose?
According to city documents, a massive housing development in San Jose is set to consist entirely of affordable apartments. The project is expected to provide much-needed housing options for those in the area. The development is a promising step towards addressing the ongoing housing crisis in the region.
How many affordable housing units are in San Jose?
The current stock of affordable housing units is divided into three categories: extremely low-income, very low-income, and total units. There are 2,832 units available for extremely low-income households, 9,252 units for very low-income households, and a total of 19,282 units.
What is the vacancy rate for apartments in San Jose?
San Jose, CA has seen a decline in its rental vacancy rate since its peak in 2017 at 5.15%. Currently, the rate stands at 4.88%, which is a decrease of 0.27%. This trend indicates a growing demand for rental properties in the area.