ADDRESS:
1725 Almaden Rd
San Jose, CA 95125
(408) 264-2900
PROJECT DESCRIPTION:
In 2004, Las Palmas and Simpson Housing Solutions completed the construction of a 66-unit affordable housing project in San Jose, California. The residents of the complex are senior citizens who earn between 50% – 60% of the area median income.
The amenities at Summercrest Villas include a community center, computer lab, fitness room, meditation garden, and a spa which is wheelchair accessible through an assisted access handicap lift.
Summercrest Villas is within walking distance to the community retail centers.
PROPERTY MGMT: Brackenhoff Management Company
FINANCING:
Tax Credit Equity Investor: Simpson Housing Solutions
Construction Lender: East West Bank
Permanent Lender: Red Mortgage Capital
Residual Receipts Lender: City of San Jose
UNIT MIX: 66 1-bedroom (570 Sq. Ft.)
100% AFFORDABLE:
13 units – 50% AMI
52 units – 60% AMI
RESIDENT SERVICES: More Information
