A new residential project has been proposed at 948 East Santa Clara Street in San Jose. The project proposal includes the development of a residential building offering spaces for affordable housing and an art gallery. The project site is developed with a bridal shop and an automobile body shop.
Los Gatos-based Milestone Housing Group is the project developer.
948 East Santa Clara Street View via Milestone Housing Group
The project site is composed of two parcels spanning an area of 0.4 acres. Named Milestone Senior Arts Colony, the project will bring 100 affordable apartments available for senior citizens along with a ground-floor art gallery. The residential units will be offered as a mix of 71 studios and 28 one-bedroom apartments available to 55-plus aged residents.
Milestone Senior Arts Colony will also feature a fitness center.
Milestone Senior Arts Colony via Milestone Housing Group
Milestone Housing Group, through an affiliate, paid a combined total of $5.1 million for the project site. The development firm also obtained $4.8 million in financing from Enterprise Community Loan Fund, a nonprofit that specializes in funding affordable homes, at the time of the company’s purchase of the properties.
Milestone Senior Arts Colony View via Milestone Housing Group
The property will rise at the corner of East Santa Clara Street and South 20th Street, near Roosevelt Park.
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