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| Opening Date: 1995 | Location: Los Suenos Ave., San Jose |
| Size:46 Townhomes | Qualified Tenants: Low- and very-low income first-time homebuyers |
Located on Los Suenos Avenue in San Jose. Constructed by Community Housing Developers, the project consists of 46 three-bedroom, two and one-half bath townhomes. Amenities include a dishwasher, garbage disposal, natural gas heat, a 2-car tandem garage, and a private yard. The townhomes were sold at a below market price, which was made possible because CHD is a nonprofit organization and did not make a profit from the sale of the homes. CHD sought assistance from the California Housing Finance Agency (CHFA) and the City of San Jose. Low interest financing was provided by CHFA through their Mortgage Revenue Bond Program, which provided low interest mortgage loans for all the buyers. The City of San Jose provided deferred loans to reduce the buyers mortgage loan payment according to financial need. |