An inauguration ceremony has been scheduled for a new affordable housing project at 500 South Almaden Boulevard in Downtown, San Jose. The project is developed by Satellite Affordable Housing Associates, a non-profit organization based in Berkeley with projects across the Bay Area. Leddy Maytum Stacy Architects is responsible for the design.
The project site spans an area of 0.38 acres. Construction has reached completion for Arya, an eight-story residential infill. The building is expected to add 87 homes for families and artists.
500 Almaden Boulevard, rendering by LMS Architects
As reported earlier, the eight-story building will yield around 91,920 square feet with 58,000 square feet of living area, 7,600 square feet of amenities and storage, 462 square feet for the bicycle parking room, and 8,600 square feet for the vehicular garage. Additional space will be included for hallways, utilities, and other miscellaneous functions.
The inauguration ceremony is scheduled on May 23rd, 10:30 AM – 11:30 AM at 500 South Almaden Boulevard.
500 Almaden Boulevard floor plan, design by LMS Architects
500 Almaden Boulevard, image by Andrew Campbell Nelson
The property was sold by Lane Partners to SAHA in the summer of 2021 for $1.3 million. Construction is estimated to cost around $55 million with financing from the City of San Jose, HCD Accordable Housing & Sustainable Communities, and 4% tax credits. Residents are expected to be able to move in by the end of the year.
500 Almaden Boulevard from Balbach Street, image by Andrew Campbell Nelson
The project is located at the corner of Almaden Boulevard and Balbach Street. The area is serviced by a few bus lines, a light rail station along with San Carlos, and ten minutes from the Caltrain-serviced Diridon Station via bicycle.
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So, the residents here will be Aryans?
😂😂
How do you apply?
Thanks good news. I am 74 yrs woman senior. My son family live near this area. Kids need ride. I want to apply. I was long time single mom. I want to affordable apt.