Hey there, listening in on San Jose's fresh move!
Groundbreaking ceremony held by City and VTA officials for a new 200-unit housing project.
San Jose has kicked off a brand-new project at the VTA's Cerone Yard in the north side of the city. This exciting venture, nicknamed Via Del Oro, promises to provide a cozy haven for 200 individuals.
What's the nitty-gritty, you ask? Let's break it down:
Project Particulars
- Location: Conveniently nestled in South San Jose on San Ignacio Avenue.
- Cost: The project has a construction budget of $17.2 million, with an annual operational cost of about $18,000 per bed, totaling $2.7 million annually.
- Land Lease: The site is leased from philanthropist John A. Sobrato for a token $1 per year for a decade. That's some serious saving!
Residential Digs
- The community can accommodate up to 150 residents.
- Each person will have their own individual room equipped with a bed and nightstand. Accessible rooms are aplenty for those with different needs.
- Don't worry about sharing everything – each room will have its own bathroom and kitchen space to maintain a sense of privacy.
- Let your furry friends tag along! The community welcomes pets.
Support Services
- Case management will be handled by the nonprofit HomeFirst to ensure residents have the necessary support to stabilize before moving into permanent housing.
- Three meals a day will be provided.
Looking Ahead
- Timeline: Construction is expected to complete in less than a year.
- Future Vision: San Jose aims to replicate this model for future projects to combat homelessness. Their long-term objective is to eliminate street homelessness in the city.
In the context of San Jose's Via Del Oro project, individuals interested in finance and investing might find potential opportunities in the future housing-market and real-estate sectors, considering the city's ambitious plan to combat homelessness by replicating this tiny home community model. Furthermore, as this project aims to provide a cozy haven for 200 individuals with various supportive services, it could significantly impact the local housing market and real-estate landscape.
