Construction financing has been secured for an affordable housing development at 797 South Almaden Avenue in the Guadalupe Washington neighborhood of San Jose. The development is expected to produce nearly a hundred units at a currently vacant corner lot. Berkeley-based affordable housing developer RCD Housing is responsible for the project.
According to public documents, construction financing is expected to come from JPMorgan Chase Bank, the California Department of Housing & Community Development, the National Housing Trust Fund Program, and Santa Clara County. JP Morgan provided $53.3 million, while the county loaned $28.9 million. Full construction is expected to cost nearly $100 million.
797 South Almaden Avenue pedestrian view, illustration by Leddy Maytum Stacy Architects
The six-story structure is expected to produce 99 units and roughly 2,300 square feet of community-serving retail. Apartment sizes will vary with 26 studios, 28 one-bedrooms, 25 two-bedrooms, and 20 three-bedrooms. The 98 units will be deed-restricted as affordable to households earning between 30% to 60% of the area’s median income, with one market-rate unit set aside for an on-site property manager. Parking will be included for 92 cars and 127 bicycles.
Leddy Maytum Stacy Architects is responsible for the design. Illustrations show an articulated six-story podium-style complex with perforated metal shadow fins. The ground floor will be improved with brick veneer.
797 South Almaden Avenue, image via Google Street View
The corner lot is located along South Almaden Avenue and West Virginia Street. Future residents will be a few minutes away from Downtown San Jose on foot.
The project is expected to open as early as August 2028.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
So much housing can be built on land occupied by a podunk taqueria.