Description
Title: Actions Related to the East Santa Clara Senior Affordable Housing Development Located at 700 East Saint John Street.
Summary
The San Jose City Council is set to consider a resolution approving a construction-permanent loan commitment of up to $6.8 million to Eden Housing, Inc. for the East Santa Clara Senior Affordable Housing Development at 700 East Saint John Street. This project is designed to create 67 affordable housing units for extremely low-, very low-, and low-income seniors. The funding will come from the Low and Moderate Income Housing Asset Fund and Real Property Transfer Tax Funds. The development is part of a larger master plan aimed at revitalizing the area with mixed-use spaces. This legislation is significant as it addresses the urgent need for affordable housing for seniors in San Jose, promoting inclusivity and community health.