www.mercurynews.com
3 months agoSan Jose apartments $75 million-plus deal helps affordable homes plan
A nonprofit organization has purchased a prominent apartment complex in downtown San Jose to convert it into affordable housing.
The purchase was made using a $100 million package of tax-exempt bonds to finance the acquisition and rehabilitation of the apartments.
The conversion plan will create much-needed affordable housing in San Jose, which currently lacks a sufficient amount of affordable housing. [ more ]