Waterford Launches Construction on Milpitas Affordable Housing

Waterford Launches Construction on Milpitas Affordable Housing
News| August 24, 2026| Paul Bubny
California & West + Apartment Buildings

Waterford Property Company has begun construction on a 75-unit affordable housing community in the Santa Clara County city of Milpitas. The project is being financed with 4% low-income tax credits and private activity bonds and is set for completion in early 2028.

As part of a larger master planned community alongside new market-rate for-sale housing built by PulteGroup, Waterford’s new community is located at 1397 California Cir. and will target families with incomes between 30%, to70% of the Area Median Income.  Through a partnership with nonprofit Pacific Housing, Inc, residents will have access to no-cost on-site social services programming.

“We are extremely proud of our partnership with the City of Milpitas and PulteGroup to address the region’s need for more affordable housing,” said Oren Hillel, senior director of development. “Waterford’s strength is working with local governments to deliver long-term, mission-aligned housing for vital community members. This includes teachers, nurses, first responders, and working families.”

If you’re reading about the multifamily industry, you should be in the room with its leaders. Connect Apartments brings together the executives featured in Connect CRE’s coverage for an afternoon of high-level insights and unmatched networking on September 22 at The Biltmore in LA.

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