The Foothill-DeAnza Community College District has approved the purchase of a 94-unit apartment complex in Cupertino for $66.7 million, aimed at addressing student housing needs. Located close to DeAnza College, the complex will be subsidized by Measure G bonds. Renovations are set to cost $28.2 million, with plans for shuttle services to Foothill College. The district's decision not only avoids the risks of constructing new facilities but also allows for immediate occupancy after the purchase is finalized, supporting local students effectively.
The Foothill-DeAnza Community College District unanimously approved the purchase of a 94-unit apartment complex, a strategic decision to provide much-needed housing for students.
By acquiring the McLellan Terrace Apartments, which are already built, the district mitigates financial risks associated with the uncertainty in the construction market.
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