Trending...
- Waste Management Shareholder News: Robbins LLP is Investigating Waste Management, Inc. (WM) on Behalf of Shareholders
- Mars Branded Skittles® and Starburst Cotton Candy to Launch!
- James Postrasija, CEO of Order Food Online on Platform Features/Benefits
FOR IMMEDIATE RELEASE
May 25, 2022
Media Contact:
Rachel Davis, Chief Communications Officer, Office of Mayor Sam Liccardo, rachel.davis@sanjoseca.gov
SAN JOSÉ, CA – Yesterday, San José City Council accepted $42.2 million in State funds from the California Housing Accelerator program and $12.6 million from the Affordable Housing and Sustainable Communities (AHSC) program to fund the 79-unit Roosevelt Park Apartments at North 21st Street and Santa Clara Street.
The development includes 40 apartments of supportive housing for formerly unhoused individuals and families, 10 apartments for youth transitioning out of foster care, 10 apartments for the developmentally disabled and families, and 19 three-bedroom apartments for larger families.
"Thanks to vital state funding, Roosevelt Apartments is progressing — but we have more to do for at-risk individuals and families," said San José Mayor Sam Liccardo. "Increased state investment in affordable housing and transportation improvements through this year's budget process will enable us to continue to deliver transformative projects like this for our community."
Funding for the projects come from two grant programs from the State Department of Housing and Community Development (HCD). Through the state's Cap-and-Trade program, 20% of proceeds from the Greenhouse Gas Reduction Fund is reserved for the Affordable Housing and Sustainable Communities(AHSC) program. AHSC funds land-use, housing, transportation, and land preservation projects to support infill and compact development that reduce greenhouse gas ("GHG") emissions. The development of infill projects is a key tool for cities to deploy against climate change that prevents sprawling urban growth that then increases automobile reliance.
More on The Californer
In the Bay Area, the dearth of new infill housing has led to the rise of "super-commuters" or residents commuting into the job areas of the urban Bay Area from available housing in bedroom communities in far-flung Central Valley cities and towns. Roosevelt Park Apartments allows for at-risk residents to live and work in San José by being in close proximity to a range of sustainable transportation options with local and rapid VTA bus lines along Santa Clara Street a half-block away and the future 28th Street/Little Portugal BART Station one half mile east.
"I'm excited that after three years of diligent work by our staff, we can finally move forward to provide more affordable housing options for our unhoused individuals and families, foster youth, and those with developmental disabilities," said Councilmember Raul Peralez, District 3. "I hope to see more of this type of investment from our state partners as we look to address housing needs across our City."
Round 4 of the AHSC program awarded $4,014,238 in transportation funding that will fund protected bike lanes connecting the neighborhood to the new BART station, safer mid-block pedestrian crossings, and two electric buses for VTA Route 77 through the project area. AHSC funding also includes $8.6 million for affordable housing development. Altogether, sustainable transportation investments will contribute to the reduction of 62.6 million vehicle miles traveled per year, or 25,059 metric tons of greenhouse gas savings.
In addition to AHSC, the project was awarded $42,170,000 through HCD's Accelerator Program. Funded in part with American Rescue Plan Act dollars, the Accelerator Program is a $1.75 billion forgivable loan program that fills funding gaps for shovel-ready projects that have been unable to access low-income housing tax credits.
More on The Californer
"We are thrilled to help house 79 deserving families thanks to the Governor's Accelerator funding, County Measure A funds, and consistent support and leadership of Mayor Sam Liccardo, Councilmember Raul Peralez, City of San José staff, and so many other partners," said Geoffrey Morgan, Chief Executive Officer, First Community Housing.
The CA Housing Accelerator was funded through last year's approved State Budget. Additional funding through this year's State Budget to re-up funding for the Accelerator program could help two more San José affordable housing developments in the pipeline, Tamien Station and Dupont Family, move forward with an estimated $138 million in awards to begin construction on 276 additional total affordable housing units.
In alignment with the goals of the Roosevelt Park Urban Village Plan, this development is a mixed-use, 8-story building with two levels of garage parking, six levels of residential units, and one level of commercial office space. The entire project contains a range of deeply affordable rental apartments, of which 19 apartments will be available to residents earning up to 60% of the area median income ("AMI"), 20 apartments restricted to those earning up to 50% AMI, and 40 apartments for those making extremely low-incomes or up to 30% of AMI. Median income for Santa Clara County is $117,950 for an individual and $168,500 for a family of four - a family of four at 50% AMI is earning $84,250 and an individual earning 30% AMI is about $35,000 a year. The range of unit sizes and target populations establishes Roosevelt Park Apartments as a project uniquely structured to serve a diverse community of individuals and families working towards independence and stability.
###
About the City of San José
With more than one million residents, San José comprises the 10th largest city in the United States, and one of its most diverse cities. San José's transformation into a global innovation center in the heart of Silicon Valley has resulted in the world's greatest concentration of technology talent and development.
May 25, 2022
Media Contact:
Rachel Davis, Chief Communications Officer, Office of Mayor Sam Liccardo, rachel.davis@sanjoseca.gov
SAN JOSÉ, CA – Yesterday, San José City Council accepted $42.2 million in State funds from the California Housing Accelerator program and $12.6 million from the Affordable Housing and Sustainable Communities (AHSC) program to fund the 79-unit Roosevelt Park Apartments at North 21st Street and Santa Clara Street.
The development includes 40 apartments of supportive housing for formerly unhoused individuals and families, 10 apartments for youth transitioning out of foster care, 10 apartments for the developmentally disabled and families, and 19 three-bedroom apartments for larger families.
"Thanks to vital state funding, Roosevelt Apartments is progressing — but we have more to do for at-risk individuals and families," said San José Mayor Sam Liccardo. "Increased state investment in affordable housing and transportation improvements through this year's budget process will enable us to continue to deliver transformative projects like this for our community."
Funding for the projects come from two grant programs from the State Department of Housing and Community Development (HCD). Through the state's Cap-and-Trade program, 20% of proceeds from the Greenhouse Gas Reduction Fund is reserved for the Affordable Housing and Sustainable Communities(AHSC) program. AHSC funds land-use, housing, transportation, and land preservation projects to support infill and compact development that reduce greenhouse gas ("GHG") emissions. The development of infill projects is a key tool for cities to deploy against climate change that prevents sprawling urban growth that then increases automobile reliance.
More on The Californer
- Ganglioside GT1a Antibody High Purity
- Dnase-Free and Rnase-Free Distilled Water
- Long Beach: Happy Fourth of July Weekend
- TVS Television Network Launches First Outlook Original Programming You Tube Channel
- The Atlas Elite Entertainment Music Award online is coming!
In the Bay Area, the dearth of new infill housing has led to the rise of "super-commuters" or residents commuting into the job areas of the urban Bay Area from available housing in bedroom communities in far-flung Central Valley cities and towns. Roosevelt Park Apartments allows for at-risk residents to live and work in San José by being in close proximity to a range of sustainable transportation options with local and rapid VTA bus lines along Santa Clara Street a half-block away and the future 28th Street/Little Portugal BART Station one half mile east.
"I'm excited that after three years of diligent work by our staff, we can finally move forward to provide more affordable housing options for our unhoused individuals and families, foster youth, and those with developmental disabilities," said Councilmember Raul Peralez, District 3. "I hope to see more of this type of investment from our state partners as we look to address housing needs across our City."
Round 4 of the AHSC program awarded $4,014,238 in transportation funding that will fund protected bike lanes connecting the neighborhood to the new BART station, safer mid-block pedestrian crossings, and two electric buses for VTA Route 77 through the project area. AHSC funding also includes $8.6 million for affordable housing development. Altogether, sustainable transportation investments will contribute to the reduction of 62.6 million vehicle miles traveled per year, or 25,059 metric tons of greenhouse gas savings.
In addition to AHSC, the project was awarded $42,170,000 through HCD's Accelerator Program. Funded in part with American Rescue Plan Act dollars, the Accelerator Program is a $1.75 billion forgivable loan program that fills funding gaps for shovel-ready projects that have been unable to access low-income housing tax credits.
More on The Californer
- INVESTIGATION ALERT: The Schall Law Firm Encourages Investors in 17 Education & Technology Group Inc. with Losses of $100,000 to Contact the Firm
- Money Today Korea Selects Grinergy as a 2022 R&D Innovation Grand Prize Winner
- Virgin Orbit Successfully Launches 'Straight Up' Mission
- INVESTOR DEADLINE: Inotiv, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action – NOTV
- Milloret LTD To Offer Premium International SEO Services
"We are thrilled to help house 79 deserving families thanks to the Governor's Accelerator funding, County Measure A funds, and consistent support and leadership of Mayor Sam Liccardo, Councilmember Raul Peralez, City of San José staff, and so many other partners," said Geoffrey Morgan, Chief Executive Officer, First Community Housing.
The CA Housing Accelerator was funded through last year's approved State Budget. Additional funding through this year's State Budget to re-up funding for the Accelerator program could help two more San José affordable housing developments in the pipeline, Tamien Station and Dupont Family, move forward with an estimated $138 million in awards to begin construction on 276 additional total affordable housing units.
In alignment with the goals of the Roosevelt Park Urban Village Plan, this development is a mixed-use, 8-story building with two levels of garage parking, six levels of residential units, and one level of commercial office space. The entire project contains a range of deeply affordable rental apartments, of which 19 apartments will be available to residents earning up to 60% of the area median income ("AMI"), 20 apartments restricted to those earning up to 50% AMI, and 40 apartments for those making extremely low-incomes or up to 30% of AMI. Median income for Santa Clara County is $117,950 for an individual and $168,500 for a family of four - a family of four at 50% AMI is earning $84,250 and an individual earning 30% AMI is about $35,000 a year. The range of unit sizes and target populations establishes Roosevelt Park Apartments as a project uniquely structured to serve a diverse community of individuals and families working towards independence and stability.
###
About the City of San José
With more than one million residents, San José comprises the 10th largest city in the United States, and one of its most diverse cities. San José's transformation into a global innovation center in the heart of Silicon Valley has resulted in the world's greatest concentration of technology talent and development.
0 Comments
Latest on The Californer
- Signs By Veterans and Savage Shakers Founder Announces Sponsorship for #TEAMUSA Para-Athlete Brian Conwell
- RINGO CELEBRATES HIS BIRTHDAY WITH HIS ANNUAL CAMPAIGN FOR PEACE & LOVE WHICH INCLUDES 26 CELEBRATIONS IN COUNTRIES AROUND THE WORLD AND THIS YEAR WILL ALSO SEE HIS MESSAGE OF PEACE AND LOVE BEAMED UP TO THE STARS AND ORBIT THE EARTH
- EY Names Tim and Chris Vanderhook of Viant Technology as Entrepreneurs of the Year® 2022 Pacific Southwest Award Winners
- Governor Newsom Takes Action to Further Restrict Ghost Guns and Protect California Kids from Gun Violence
- Fragner Seifert Pace & Mintz, LLP Promotes Alex Flumenbaum to Partner
- INVESTIGATION NOTICE: The Schall Law Firm Encourages Investors in Riskified Ltd. with Losses of $100,000 to Contact the Firm
- Telegraph Hill Partners Raises $525M Fifth Fund for New Life Science and Healthcare Investments
- EA SPORTS™ F1® 22 Launches Worldwide Today
- Diving Into Informative Television With 'A Hot Set's'- 'Statement'
- San Francisco: Mayor London Breed Statement on State Budget Includes Investments of Nearly $55 Million in Community Projects
- Governor Newsom Signs Into Law Strongest Extended Producer Responsibility Legislation in the U.S.
- California: Governor Newsom Signs Legislation Cutting Harmful Plastic Pollution to Protect Communities, Oceans and Animals
- TikTok Marketing Strategy-Boost Your Business With TikTok
- Governor Newsom Signs Budget Putting Money Back in Californians' Pockets and Investing in State's Future
- Aimmune Therapeutics to Present New Data for PALFORZIA® [Peanut (Arachis hypogaea) Allergen Powder-dnfp] at the EAACI Hybrid Congress 2022
- San Francisco World Spirits Competition Announces Premium Winners at Inaugural Awards Gala
- Best AI Copywriter-The Future Of Copy-writing Is Now
- San Jose: Notice of CEQA Posting: Addendum to the 4300 Stevens Creek Boulevard Mixed-Use Project
- Indie Brand Vow Beauty Enters Walmart
- INVESTIGATION ALERT: The Schall Law Firm Encourages Investors in Abbott Laboratories with Losses of $100,000 to Contact the Firm