Financing has been secured for proposed affordable housing at 802 South First Street in San Jose, Santa Clara County. The joint venture responsible for the six-story project has agreed to a $66 million loan with PNC National Bank. Construction is expected to start in the fall of this year.
A new residential project has been proposed for development at 50 8th Street in South of Market (SoMa), San Francisco. The project proposal includes the conversion of a tourist hotel into group housing as a 100% affordable housing building. The scope of work includes the conversion of 66 tourist hotel units to 66 group housing units as a 100% affordable housing project.
Zoning permits have been filed for the 18-story apartment complex to rise at 2276 Shattuck Avenue in the heart of Downtown Berkeley, Alameda County. The project will bring a dense residential addition to the small quarter-acre parcel. Vindium Real Estate is the developer and applicant.
The Sacramento City Council is scheduled to vote today on funding an affordable rental project at 815 11th Street in Downtown Sacramento. The city aims to provide roughly a quarter of the projected development cost to Humboldt County-based affordable developer Danco Communities. Danco is aiming to bring 52 units to a small lot.
A new infill housing project has been approved for development at 3401 Stockton Boulevard in Sacramento. The project proposal includes the construction of a three-story mixed-use building offering spaces for residential and retail uses. The project site was formerly occupied by the San Juan Motel.
