The project has been designed by KTGY Group Incorporation and developed by ROEM-ICON Contracting Group, Incorporation. The new facility is targeted at working families with annual incomes at or less than 50% of the Santa Clara County Area Median Income. It consists of 92 apartments with one-, two-, and three-bedroom units. The building encompass four floors comprising 163 parking areas in a single floor, and semi-subterranean parking garage.
Among the various other features of the new property include a spacious contiguous landscaped courtyard, a tot lot with seating areas, a community room comprising a kitchen and a library, a computer centre, and a fitness room. The facility also imbibes several sustainable elements like use of green building methods, and employs measures to curb energy consumption.
The project has been funded with 4% Low-Income Housing Tax Credits and tax-exempt bond financing via Freddie Mac Credit Enhancement Programme. ROEM and Eden Housing have supported the venture, in association with Citi Community Capital, AEGON USA Realty Advisors, JP Morgan Chase, Federal Home Loan Bank of San Francisco, the California Department of Toxic Substance Control, and the City of San Jose for financial support.
