San Jose has unlocked substantial progress on housing by approving nearly ten million dollars in incentives for three residential developments. These waivers will help deliver more than one thousand one hundred new units while addressing affordability challenges that many residents face daily.
In Downtown San Jose the Gateway Tower project at 470 South Market Street will introduce two hundred twenty affordable apartments in a fifteen-story structure that also includes ground-floor retail space. Construction starts in May. Nearby the historic Bank of Italy building transforms into one hundred nine apartments, preserving architectural heritage and adding needed homes to the urban core with work beginning in April.
West San Jose gains momentum as well. Sand Hill Property Co. has already launched construction at El Paseo de Saratoga where seven hundred seventy-two units will take shape along the Saratoga corridor. Vertical building is expected to advance soon.
San Jose continues to demonstrate leadership by streamlining costs and encouraging developers to move forward despite broader market pressures. As these projects rise, residents will gain more choices for living spaces that fit their budgets and lives.
Source: SVBJ
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