Progress on a 10-story apartment building at 1565 Mabury Rd. brings nearly 200 affordable homes closer to reality in Northeast San Jose. The development stands right next to the Berryessa BART station parking garage. Once finished, it will deliver a mix of studio, one-bedroom and two-bedroom residences aimed at households earning up to 80 percent of the local area median income.
San Diego-based Affirmed Housing leads the effort after securing a ground lease from the Santa Clara Valley Transportation Authority. County records show an $11.1 million payment for the lease. Permanent financing of $162.6 million received approval through a combination of tax credits, tax-exempt bonds and contributions from Citibank, Santa Clara County and the City of San Jose.
The building will contain 193 affordable units plus two market-rate apartments reserved for on-site managers. Forty-five studios, 43 one-bedroom units and 105 two-bedroom apartments make up the affordable portion. These homes target working families and individuals who need stable housing near reliable public transit.
Location beside a major BART station supports the kind of dense, transit-oriented growth that reduces reliance on cars and connects residents directly to jobs across the region. The project represents one of several efforts turning long-discussed plans into actual buildings on underused land.
Leaders in land-use planning note that sites immediately adjacent to rail infrastructure represent prime opportunities for taller residential structures. This approach makes efficient use of existing transit investments while expanding housing choices in established neighborhoods.
Source: The Mercury News






















