San Jose subdivision will include affordable homes and an art gallery
SAN JOSE – A site near downtown San Jose is expected to be developed with about 100 affordable apartments that will be made available to seniors, as well as an art gallery on the ground floor.
Milestone Housing Group recently purchased two parcels that will be needed for the development, which could rise on the corner of East Santa Clara Street and South 20th Street in San Jose.
“Housings will be available for residents over the age of 55,” Marcus Griffin, senior director of Milestone Housing Group, said in an email to this news agency.
An estimated 99 residential units are expected to be built on the site, with addresses ranging from 934 to 948 E. Santa Clara St., according to a plan filed with San Jose city officials.
“We are planning an arts-focused concept with the project’s working name being Milestone Senior Arts Colony,” Griffin said in the email.
The project’s proximity to Roosevelt Park across the street influenced the decision to include an art gallery on the ground floor, Griffin said.
The apartments are expected to consist of 71 studios and 28 one-bedroom units, according to city documents.
A fitness center is also expected to be part of the development, according to municipal planning records.
Milestone Housing Group, acting through an affiliate, paid a combined total of $5.1 million for the two parcels on the site, according to Santa Clara County property records filed on two different dates. end of April.
The parcel which contains a retail building with businesses such as a bridal boutique, tailor shop and beauty salon, with addresses 942 to 948 E. Santa Clara St., was purchased for 3 .4 million.
The Pacific Auto Body & Paint shop building located at 934-936 E. Santa Clara St. was purchased for $1.7 million.
Together, the two parcels total about 0.4 acres, according to San Jose planning documents.
“Milestone Housing’s mission is to generate and sustain high-quality, safe and affordable housing,” the developer states on its website. “Creating housing stability sets a strong foundation for our residents, allowing them to focus on improving their lives.”
Los Gatos-based Milestone has developed three residential projects in San Jose and one residential project in each of the following cities: Livermore, Santa Cruz, San Luis Obispo, Los Angeles and San Diego, the company’s website says.
The development corporation also secured $4.8 million in financing from the Enterprise Community Loan Fund, a non-profit organization that specializes in financing affordable housing, at the time the corporation purchased the properties.
Milestone intends to secure additional funding for the project from Santa Clara County and the City of San Jose, Griffin said.
“We produce housing for individuals and families with a variety of needs, including permanent housing for the homeless, veterans and people with disabilities, as well as traditional housing for families and seniors,” Milestone said on its website.