SAN JOSE — Two housing projects rising on a downtown San Jose block are poised to bring hundreds of homes to sites near Google’s proposed transit village.
One project has just landed a construction loan and the other is currently being built. Both are located near the corner of Delmas Avenue and Auzerais Avenue just northwest of where Highway 87 and Interstate 280 intersect.
Delmas Village has received $30.9 million in construction financing from Construction Loan Services, according to documents filed on April 1 with the Santa Clara County Recorder’s Office.
County property records show that Delmas Village also landed nearly $19 million in financing from Nuveen Green Capital, which provides funding for commercial real estate projects with green energy and sustainable components.
Delmas Village will add 120 residential units to a site at 345 Delmas Ave., according to a web post by the project’s developer and owner, Milpitas-based Mil-Techs, which invests in real estate in the Bay Area.
Large piles of dirt and excavated holes were visible at the Delmas Village project site this week.
Just down the block, construction workers were operating equipment and conducting an array of tasks this week at the site of an affordable housing project at 425 Auzerais Ave.
427 Auzerais Apartments is slated to bring 130 affordable homes to downtown San Jose. Eden Housing is the developer of the residential complex.
An estimated 64 units will be set aside as permanent supportive housing to address the homeless situation in San Jose. The remaining 66 units will be restricted to families who earn 50% to 60% of the area median income. The area median income for the typical household in the San Jose metro region is $115,900 a year.
Both projects are a short distance from the footprint of a mixed-use neighborhood that Google has proposed near the Diridon train station.
“(This is) a dynamic area close to multiple transit stations where the city and Google are both investing significant resources,” Eden Housing said of the Delmas Avenue neighborhood.
The Google transit-oriented neighborhood is expected to feature office buildings, homes, shops, restaurants, entertainment hubs, cultural loops and open spaces. The search giant could employ up to 20,000 people in the proposed new village.
427 Auzerais Apartments will feature an array of amenities for residents, according to the Eden Housing website.
“Outdoor space with fitness loop, community garden, and drought-tolerant landscaping, a community room, computer learning center and a fitness/yoga studio” are among the anticipated amenities, the Eden Housing site stated.