$70.9 million of construction financing has been closed, funding a good chunk of the $119 million proposal.
Construction is expected to begin this year at 4300 Monterery Road and it will take about two years to complete the project.
Tuesday, June 18, 2024
Affordable homes proposed for Monterery Road in Central San Jose
240 homes will be built built on an empty lot on Monterey Road near Senter Road, 237 of which would be designated as "affordable" one-bedroom units. Amenities would include a clubhouse, laundry rooms on each level, bicycle storage, a basketball court, dog park, picnic area, and a BBQ area. The color scheme looks a lot more interesting than many affordable projects, which tend to just be beige or gray boxes.
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