860 West San Carlos Street in San Jose shifts from market-rate to affordable housing

A proposed 12-story apartment building in San Jose's Midtown is switching from market-rate to 100% affordable housing. It is also getting more units, going from 263 to 272 units. The project is backed by Swenson and Republic Urban Properties.

The main reason for the change seems to be financing. Affordable housing has more potential funding sources. Falling interest rates should also help move this project around.

There is still no ETA but updated permits is a good sign that the project is still alive and kicking.

Source: SF YIMBY