"Sobrato Organization and Pacific West Communities have teamed up on the preliminary plan, which calls for 171 apartments reserved for extremely low, very low, and low-income households plus two market-rate units for on-site managers. The developers intend to use state streamlining provisions under SB 330 to move the project forward efficiently."
"Real estate observers have long argued that adding residents to the urban core helps create an authentic downtown over time. Land-use experts have welcomed the prospect of increased daytime and nighttime activity that comes with hundreds more people living right in the heart of the city."
"By delivering deeply affordable units in a walkable, transit-rich location, the project will support local businesses, reduce pressure on surrounding neighborhoods, and contribute to a more complete, equitable, and dynamic Downtown San Jose."
Sobrato Organization and Pacific West Communities are developing a 173-unit affordable housing project on a 1.3-acre surface parking lot at 143 South Third Street in downtown San Jose. The project includes 171 apartments for extremely low, very low, and low-income households, plus two market-rate units for on-site managers. Located near the Paseo de San Antonio and Hammer Theatre Center, the developers will use state streamlining provisions under SB 330 to expedite the process. The project represents a shift toward prioritizing residential development over parking in walkable, transit-rich urban locations. Adding hundreds of residents to the downtown core is expected to increase daytime and nighttime activity, support local businesses, and reduce housing pressure on surrounding neighborhoods.
Read at Thesanjoseblog
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