SAN JOSE — A nonprofit that specializes in creating and preserving affordable housing has bought a San Jose apartment complex in a deal that could help keep rents in the residential hub within reach of people with modest incomes.
Almaden Terrace, an apartment complex located in the Willow Glen district of San Jose, has been bought for $87.7 million, according to documents filed June 18 with the Santa Clara County Recorder’s Office.
The deal arrives at a time when more endeavors have appeared to create low-cost housing in the Bay Area, including a proposal to develop a 173-unit apartment complex in downtown San Jose that would include 171 affordable homes…