SAN JOSE — An affordable housing development that would bring about 100 units to San Jose’s Willow Glen district has passed a key milestone after a developer bought the project site.
Resources for Community Development, acting through an affiliate, has paid $5.25 million to buy parcels with addresses of 520 and 544 West Alma Avenue, according to documents filed on June 2 with the Santa Clara County Recorder’s Office.
The real estate firm, which specializes in the development of affordable housing, also landed a $5.25 million loan from Housing Trust Silicon Valley to cover the purchase price, the county records show.
Resources for Community Development has proposed a 90-unit project at the West Alma site, which is near the Guadalupe River, according to city and county public documents…