(Save the date: RealShare Apartments comes to the Westin Bonaventure, Los Angeles, October 24.)
SAN JOSE, CA-Two affordable housing developments, called 1st and Rosemary Family and Senior Apartments, are moving dirt. The developments, by ROEM Corp., will consist of 290 units and will provide housing that will be affordable to families and seniors earning 60% or less than the Santa Clara County Area Median Income.
In total, the two new developments’ value is approximately $90 million. Located minutes from downtown in North San Jose along the North First Street light rail corridor, both developments stand side by side on a 4.04-acre site. Immediately adjacent to the Gish light rail station, multiple bus lines, residents can travel across the Bay Area by utilizing public transportation services. The site is also near access to the 880, 101, and 87 freeways linking residents to Silicon Valley jobs.
Construction for both developments is estimated to take approximately 18 months and should be completed in the fall of 2013. The architect for both developments is Architects Orange.
“San Jose has long been a leader in affordable housing, however even with the great strides we’ve made, there is still a critical need for quality, affordable housing for families and senior adults,” explains San Jose City Councilmember Sam Liccardo. “This project is providing an essential resource in our community and I commend ROEM’s commitment.”
This development will be environmentally-sensitive and will transform an underutilized and strategically located infill site into a high-density residential development, according to a prepared statement. The project will be constructed using sustainable building methods and will incorporate a number of ‘green’ features designed to ensure its long-term energy-efficiency and sustainability. To this end, 1st and Rosemary Family and Senior will obtain LEED-H Silver Certification.
“The City’s Housing Department has invested more than $10 million in the Rosemary developments,” says Leslye Corsiglia, director of housing, City of San Jose. “The new apartments will house local workers as well as seniors in this key location on light rail—which is so important, as San Jos
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
