Affirmed Housing, VTA Break Ground on San Jose TOD
Affordable housing developer Affirmed Housing, the Santa Clara Valley Transportation Authority (VTA) and community partners have broken ground on RISE, a 195-unit affordable housing development adjacent to the Berryessa/North San José BART Station. The transit-oriented community will provide affordable housing for low-income residents and people transitioning out of homelessness.
“This groundbreaking highlights what strong public-private partnerships can achieve,” said Affirmed Housing president Jimmy Silverwood. “By working closely with like-minded partners, we are advancing a transit-oriented development that delivers much-needed housing while connecting residents to jobs, services and opportunity. Together, we are helping shape a more sustainable and accessible future for the Berryessa community.”
Built on land leased from VTA, the 10-story, sustainability-minded complex is the first project in Santa Clara County to receive funding from the Bay Area Housing Innovation Fund, a first-of-its-kind financing source launched in 2024 by Apple, The Sobrato Organization, Destination: Home, and the Housing Accelerator Fund.
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Development Site Trades within Atlantic Avenue Mixed-Use Plan
Ariel Property Advisors closed the $21-million sale of a development site at 566 Grand Ave. and 836 Dean St. in Prospect Heights, Brooklyn. The corner development site comprises approximately 86,065 buildable square feet and traded for approximately $244 per buildable square foot. The transaction was arranged by Ariel partner Sean R. Kelly along with associate...
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Fourth Sale Closes in Anaheim Multifamily Portfolio
Marcus & Millichap arranged the sale of Knott-Orange Apartments, a 35-unit multifamily property located at 515 S. Knott Ave. in Anaheim. The property sold for $9.65 million, or $275,714 per unit. “This transaction marked the fourth closing from a larger Anaheim-area multifamily portfolio as the seller continues to reposition its holdings through a 1031 exchange...
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JLL Arranges $135M Financing for Luxury Multifamily in Yonkers
JLL Capital Markets arranged $135 million in construction financing and joint venture equity for the development of The Ibex at Ridge Hill, a 282-unit luxury multifamily community at the Ridge Hill mixed-use lifestyle center in Yonkers. Senior managing directors Evan Pariser and Aaron Niedermayer and director John Lowe arranged the senior construction loan with Bank...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout