There will be a total of six buildings, and 407 of the units will be priced as below market-rate. Most of those "affordable" units will be priced for people earning up to 80% of the median income, which is $96,000 for a single person and $137,000 for a household of four.
235 of the apartment will be built on 1.5 acres at 1298 Tripp Avenue and will be called Residencias Arianna. It will replace 40 existing apartments and two single-family homes with a single six-story building.
The other five buildings will be on 3.3 acres of land at 1325 E. Julian St. Three buildings will rise to be 10 stories tall and the fourth will be six stories. This is respectable density for this neighborhood.
The project also includes 15,000 SQFT of commercial space on the ground floors and 267 parking spaces shared among all of the apartments. That's right, not everyone will get a space. However with multiple bus lines and eventually BART servicing the area, it might be one of those few neighborhoods in San Jose where you can get around without a car.
Groundbreaking is scheduled for 2024 and it will take around three years to complete.
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