San Jose is set to develop the 305-unit affordable housing project Julian Street Studios, with the nonprofit Corporation for Better Housing and JSL Real Estate acquiring two parcels for $8.15 million. The development will consist of 301 studios for households earning 30% to 70% of the area median income, alongside four manager apartments. The project has secured $138.6 million in construction financing and is expected to begin construction this month, with completion and leasing planned for September 2027. It aims to capture a significant portion of family housing demand in central San Jose.
The nonprofit Corporation for Better Housing and JSL Real Estate have teamed up to pay $8.15 million for two parcels needed for developing the 305-unit affordable housing project known as Julian Street Studios.
The seven-story development will consist of 301 apartments for households whose annual incomes range from no more than 30% to 70% of the Santa Clara County area median income.
The project has secured $138.6 million in construction financing, with the Banc of California serving as the primary lender and construction scheduled to start this month.
Leasing for the affordable units is expected to begin in September 2027, capturing 22.1% of the total demand for family units in central San Jose.
#affordable-housing #san-jose #real-estate-development #construction-financing #housing-income-limits
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