"A significant development is on the horizon for Downtown San Jose as Gateway Tower secures over $220 million in funding to bring affordable housing to the vibrant SoFA District. The Core Companies will construct a 15-story residential building at 470 S. Market Street, drawing support from the city of San Jose, Santa Clara County, and state resources. This project marks a step forward in addressing housing needs while enhancing the area's appeal as a center for arts and culture."
"The tower will feature 220 units designed for residents earning 30% to 70% of the area median income. Among these, 55 units are set aside for rapid rehousing to help combat homelessness. A tenant preference program will give SoFA-based artists the first opportunity for some residences, supporting the district's creative community. Ground floor retail space exceeding 3,000 square feet will add to the neighborhood's lively street-level activity. The first four floors will also serve as a parking garage, ensuring convenience for residents and visitors."
Gateway Tower will be a 15-story residential building at 470 S. Market Street in Downtown San Jose's SoFA District. The project received over $220 million in funding from the city of San Jose, Santa Clara County, and state sources. The building will include 220 affordable units for households earning 30% to 70% of area median income, with 55 units reserved for rapid rehousing. A tenant preference program will prioritize SoFA-based artists for some residences. Ground-floor retail will exceed 3,000 square feet. The first four floors will be a parking garage. Construction starts Q1 2026 with completion expected early 2028.
Read at Thesanjoseblog
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