Affordable housing complex edges closer to construction
SAN JOSE >> A new San Jose housing development with scores of affordable homes is edging closer to a construction launch after a city assessment that the project won't have a major environmental impact.
The project, located at 555 Keyes St., would add 100 residences, of which 99 would be affordable apartments, according to documents on file with city officials.
One of the 100 units would be a manager's dwelling that would be offered at a market rate.
The six-story residential development would sprout near San Jose's Happy Hollow Park & Zoo on Keyes Street between South 12th Street and Senter Road.
“The city of San Jose has determined that the project will have no significant impact on the human environment” and, as a result, the city doesn't intend to prepare an environmental impact
statement.
The nonprofit Charities Housing is the developer of the project, which has an overall cost of $83.6 million, according to city planners.
The Santa Clara County Housing Authority has also agreed to provide projectbased vouchers for Section 8 housing, which allows low-income families to pay reduced rents, for 44 of the units. Large families could live in the 44 units, the city
documents show.
San Jose officials also said they intend to pursue a release of federal Housing and Urban Development funds for the project.
The estimated total HUD funding for the rental subsidy in the project is expected to be $38.1 million, or roughly $1.9 million a year.
The city documents didn't disclose when the construction of the project might begin.