In San Jose, the money will be used to help fund the Fourth Street Apartments, which will provide one-, two- and three-bedroom homes for 100 families with household incomes between 25% and 60% of the area median income. In addition, 35% of the homes will be reserved for people with disabilities.

CalHFA is providing approximately $34 million in construction and long-term loans for the project. Construction is expected to begin by the end of the year. The building will have a two-level, above-ground parking garage and five stories of residential space. Amenities will include balconies, energy-efficient windows, wiring for Internet access, all appliances, air conditioning and a "green" roof.

In Salinas, CalHFA approved $12.2 million in construction and long-term financing for the Salinas Gateway Apartments, which will provide 52 units for families with household incomes at or below 30% of the area median income. Construction is expected to begin this fall. The four-story building will feature a "green roof" as well as other green features, such as recycled carpet, low VOC paint, energy-efficient appliances and green-rated cabinets.