After more than a decade of planning and delays, a 15-story, 100% affordable apartment building known as The Gateway Tower is set to break ground in downtown San Jose’s SoFA District early next year.
The breakthrough comes after developer The Core Companies announced it had secured all necessary funding to move forward with the $197-million construction plan. That includes a $38 million loan from San Jose approved by the City Council in late September.
The Core Companies intends to develop the wedge-shaped half-acre site — bounded by First, South Market and East William streets — into a glass-walled building housing 220 apartments for low-income residents. It will also include more than 3,000 square feet of ground floor retail space…