Habitat for Humanity is transforming a historic building in San Jose into affordable homes for low-income families. The renovated Pallesen Apartments will consist of four condominiums aimed at families earning 30-80% of the area median income. Homeowners will benefit from no down payment and monthly payments capped at 35% of their income, thanks to additional funding from the city. The condos will remain affordable for 99 years, significantly impacting the families' lives and promoting stability.
"The idea is that housing can be a thing that you no longer have to worry about," Grubb told San José Spotlight. "The difference between affordable home ownership versus affordable rental is that you're not (just) changing the lives of two or three people. You're changing the lives of entire families."
"The homes are targeted for low-income families - households making up to 80% of the area median income... and very low-income families making between 30% to 50% of the area median income."
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