The Santa Clara County Board of Supervisors has given the green light to inject nearly $29 million into the development of five new affordable housing projects in San Jose. This substantial investment aims to mitigate the critical shortage of cost-effective housing options for residents, as reported by Santa Clara County News. The board’s approval will see the creation of 612 units, bolstering the county’s arsenal against housing insecurity.
With a total county commitment reaching $48.2 million for these projects, $38.7 million is sourced from Measure A, a housing bond passed by county voters 2016. Two funded projects will capitalize on VTA-owned land, a strategy to marry transit accessibility and affordable living. Measure A’s progress impressively exceeds its initial pledge, poised to fund over 5,800 units against the original goal of 4,800. “More than 6,000 people who were unhoused or at risk of homelessness now have the safety and dignity of a home,” Board President Otto Lee highlighted, per the Santa Clara County News.
Amid Silicon Valley’s notorious housing cost spike, the National Association of Realtors recorded Santa Clara County’s metro area as bearing the nation’s highest median sales price for single-family homes, just over $2 million. The County’s strategic use of public resources like Measure A, combined with San Jose’s Measure E and private sector contributions, underscores an aggressive stance against housing unattainability. County Executive James R. Williams called attention to the urgent and escalating need for affordable housing solutions in San Jose and its surrounding areas…