2016 Measure A Housing Bond Progress

Program Overview

On November 8, 2016, the people of the County of Santa Clara approved Measure A, a proposition authorizing the County to issue up to $950 million in general obligation bonds to acquire or improve real property for the purpose of providing affordable housing for vulnerable populations throughout the County. The following are highlights about the Measure A Program (Program):​

  • Program funds are targeted to help construct 4,800 units of affordable housing, in addition to assisting about 235 families to secure loans to finance their first homes.
  • In October 2017 the County issued its first series of bonds for $250 million and in July 2021 issued the second series of bonds for $350 million.
  • As of June 30, 2022, the Program has committed $792.95 million, of which $25 million is committed to the first-time homebuyer loan program, $11.9 million has been committed to a Supportive Housing Fund for predevelopment loans, $25 million bridge loan for Hillview Court, $146.93 million for 20 property acquisitions, $800,000 for 4 partnership projects, and $583.32 million for 44 development and renovation projects.
  • The development and renovation projects are in the process of adding 3,693 units of affordable housing included in the County’s housing goals, and an additional 671 units of low-income housing and 80 units of moderate-income housing that are not addressed in the Program’s housing goals (as discussed in the Housing Program Goals section below).
  • As detailed in the program overview dashboard below, this means that 61.40 percent of the bond proceeds committed for development and renovation projects are financing the development of 76.94 percent of the Program’s housing goals.
  • In addition, for every dollar invested by the Program, the Program incentivizes an average of $4.56 from outside investments (Public/Private Leveraging Ratio).

Use of Bond Proceeds

The dashboards below provide details on the estimated cost share per unit and housing development, sources of funding by housing development, and actual expenditures to-date. As of June 30, 2022, we provide the following highlights:

  • The Program has committed $583.32 to 44 development and renovation projects, with individual commitments ranging from $1 million (The Veranda) to $53 million (Gateway Tower).
  • When looking at the estimated cost per unit of housing, the Program has committed anywhere from $45,752 per unit (Markham I) to $210,938 per unit (Leigh Avenue Senior Apartments), with an average cost share of $122,212 per unit of housing.
  • Although $583.32 million has been committed by the Program for these 44 development and renovation projects to-date, $329.16 million has been actually expended to-date.

Housing Program Goals

Program housing goals aim to create 4,800 units of affordable housing. As of June 30, 2022, Program funds committed to date are projected to finance 61.40 percent of the Program’s total affordable housing goal.  Based on the Program’s funding commitments through June 30, 2022, the status of housing development goals by type of housing are as follows:​

  • Helping to finance 93.11 percent of the Permanent Supportive Housing (PSH) goal.
  • Helping to finance 31.31 percent of the Rapid Rehousing (RRH) goal.​
  • Helping to finance 90.13 percent of the Extremely Low-Income (ELI) housing goal.
  • Helping to finance 132.50 percent of the Very Low-Income (VLI) housing goal.
  • There are 671 units of Low-Income (LI) housing incorporated into the current housing projects; however, the Program has no stated goal for this category of housing.
  • There are 80 units of Moderate-Income (MI) housing incorporated into the current housing projects; however, the Program has no stated goal for this category of housing.​

​The dashboards below provide detail on the number of units in development by housing type, as well as how each housing development contributes to each housing goal.​

List of housing developments funded by Measure A Housing Bond:

Click the name of housing development from the list below to view a detailed summary of the project.


Housing Development

Total #
of Units

​City

Status

PROJECTED COMPLETION DATE​

​1. ​The Veranda​

19​

​Cupertino

complete​

​Jun 2019

​2. Villas on the Park​ 84​ ​San Jose complete​ ​Nov 2019
3. Crossing on Monterey 39 Morgan Hill​ complete Dec 2019
4. Monterey Gateway Senior Apartments 75 ​Gilroy complete May 2020
5.​ Markham Plaza I (Rehab) 153​ San Jose​ ​complete Dec 2020​
6. Leigh Ave Senior Apartments​ ​64 San Jose​ ​complete Jun 2021
7.​ Curtner Studios (Rehab) ​179 ​San Jose ​complete Nov 2021​
8. Quetzal Gardens 71 ​San Jose complete Oct 2021
9. ​Iamesi Village a/k/a N. San Pedro Apt. 135 ​San Jose under construction Feb 2022
10.​ Calabazas a/k/a Corvin Apartments 145​ Santa Clara​ complete Nov 2021​
11.​ ​​Page Street Apartments​ 82​ San Jose​ under construction​ ​Nov 2022
12.​ Markham Plaza II (Rehab)​ ​152 ​San Jose under construction​ ​Sep 2022
13.​ ​​Vela Apartments (Alum Rock Family Apts) ​87 San Jose​ under construction​ Nov 2022​
14.​ Villas at 4th Street  94​ San Jose​ ​under construction Nov 2022
​15. Blossom Hill Senior Apartments ​147 ​San Jose under construction​ Mar 2023
16.​ Gallup and Mesa Apartments ​46 ​San Jose under construction​ Nov 2022
17.​ Agrihood Senior Apartments 165 Santa Clara​ under construction Jul 2023
18. ​ ​Immanuel-Sobrato a/k/a Moorpark Apartments 108 San Jose​ ​under construction ​Mar 2023
19. Kifer Senior Apartments​​ 80 Santa Clara​ pre-construction Jan 2024
20. Vitalia a/k/a Bascom Apartments ​79 ​San Jose ​under construction Aug 2023
​21. Auzerais Apartments​​ ​130 ​San Jose ​under construction Jan 2024
22.​ Sango Court Apartments 102​ Milpitas under construction Jun 2023
23. The Charles 99 San Jose​ pre-construction​ Apr 2025
24.​ Roosevelt Park 80​ San Jose​ pre-construction Jul 2024
​25. Gateway Towers 300​ San Jose​ pre-construction Jul 2026
26.​ Mariposa Place (W. San Carlos Housing​) 80​ San Jose​ under construction​ May 2024
27.​ Tamien Station TOD ​135 San Jose​ ​pre-construction Jun 2025
28.​ ​Alum Rock Multifamily ​60 ​San Jose ​pre-construction ​Oct 2024
29.​ Algarve Apartments ​91 ​San Jose pre-construction​ May 2024
30.​ Dupont Family Apartments​ ​141 San Jose ​pre-construction Sep 2026
31​ ​Sunol-West San Carlos​ 154 San Jose​ pre-construction​ May 2025​
32.​ ​La Avenida ​100 ​Mountain view pre-construction​ Apr 2025
​33. Hillview Court (Phase I - Rehab) ​134 ​Milpitas under construction​ ​Sep 2022
34.​ ​Casa de Novo (Rehab) ​TBD San Jose​ pre-construction ​Oct 2022
35. Royal Oak Village 73 Morgan Hill under construction Oct 2023
36. McEvoy Apartments 224 San Jose pre-construction Mar 2026
37. Hawthorn Senior Apartments 103 San Jose pre-construction Jun 2025
38. Bellarmino Place Apartments 116 San Jose pre-construction Jul 2024
39. Mountain View Lot 12 120 Mountain View pre-construction Sep 2025
40. Orchard Gardens 93 Sunnyvale pre-construction May 2025
​41. Residence Inn​ ​102 ​San Jose ​pre-construction Apr 2024
42. Alvarado Park 90 San Jose pre-construction Sep 2025
43. The Magnolias 66 Morgan Hill pre-construction May 2025
44. Sonora Court 176 Sunnyvale pre-construction Oct 2024
           
​Total New Units 4,053
Total Renovated Units 720
Total Units 4,773

Supportive Housing Map​

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