SAN JOSE — A big housing development that would produce well over 150 affordable homes in San Jose has landed a crucial construction loan that will enable the project to be built.
The residential development would add 194 affordable residences to east San Jose, documents on file with city planners show. Idaho-based Pacific West Communities and its allies have landed $69.6 million in construction financing from Wells Fargo Bank. For a household of four, the area median income was $181,300 in 2023, the state Housing and Community Development Department says.
“Each unit will have standard features such as refrigerators, exhaust fans, disposals, and ranges with ovens,” according to documents posted by the California Debt Limit Allocation Committee. “All units will feature dishwashers.”
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