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 March 31, 2023, the Program has committed $820.22 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 18 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 3,864 units of affordable housing included in the County’s housing goals, and an additional 788 units of low-income housing and 82 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 $4.60 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 March 31, 2023, we provide the following highlights:
- The Program has committed $628.62 to 48 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 $124,086 per unit of housing.
- Although $628.62 million has been committed by the Program for these 49 development and renovation projects to-date, only $413.40 million has been actually expended to-date.
Housing Program Goals
Program housing goals aim to create 4,800 units of affordable housing. As of March 31, 2023, 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 March 31, 2023, the status of housing development goals by type of housing are as follows:
- Helping to finance 94.56 percent of the Permanent Supportive Housing (PSH) goal.
- Helping to finance 31.88 percent of the Rapid Rehousing (RRH) goal.
- Helping to finance 94.38 percent of the Extremely Low-Income (ELI) housing goal.
- Helping to finance 149.50 percent of the Very Low-Income (VLI) housing goal.
- There are 788 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 82 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.
PROJECTED OCCUPANCY DATE*
|2.||Crossing on Monterey||39||Morgan Hill||complete||Jan 2020|
|3.||Villas on the Park||84||San Jose||complete||Mar 2020|
|4.||Monterey Gateway Senior Apartments||75||Gilroy||complete||Jul 2020|
|5.||Markham Plaza I (Rehab)||153||San Jose||complete||Mar 20211|
|6.||Leigh Ave Senior Apartments||61||San Jose||complete||Jul 2021|
|7.||Curtner Studios (Rehab)||179||San Jose||complete||Sep 2021|
|8.||Quetzal Gardens||71||San Jose||complete||Feb 2022|
|9.||Calabazas a/k/a Corvin Apartments||145||Santa Clara||complete||Apr 2022|
|10.||Iamesi Village a/k/a N. San Pedro Apt.||135||San Jose||complete||Sep 2022|
|11.||Vela Apartments (Alum Rock Family Apts)||87||San Jose||complete||Nov 2022|
|12.||Markham Plaza II (Rehab)||152||San Jose||complete||Nov 2022|
|13.||Hillview Court (Rehab)||134||Milpitas||complete||Nov 2022|
|14.||Page Street Apartments||82||San Jose||complete||Feb 2023|
|15.||Mesa Terrace a/k/a Gallup and Mesa Apts||46||San Jose||complete||Feb 2023|
|16.||Immanuel-Sobrato a/k/a Moorpark Apartments||108||San Jose||under construction||Jun 2023|
|17.||Villas at 4th Street||94||San Jose||complete||Jul 2023|
|18.||Blossom Valley Senior Apartments (Blossom Hill Senior Apartments)||147||San Jose||under construction||Aug 2023|
|19.||Vitalia a/k/a Bascom Apartments||79||San Jose||under construction||Oct 2023|
|20||Sango Court Apartments||102||Milpitas||under construction||Nov 2023|
|21.||Pavilion Inn (Rehab)||22||San Jose||under construction||Nov 2023|
|22.||Agrihood Senior Apartments||165||Santa Clara||under construction||Dec 2023|
|23.||Royal Oak Village||73||Morgan Hill||under construction||Jan 2024|
|24.||Kifer Senior Apartments||80||Santa Clara||pre-construction||Apr 2024|
|25.||Auzerais Apartments||130||San Jose||under construction||Jun 2024|
|26.||The Crestview (Rehab)||49||Mountain View||pre-construction||Aug 2024|
|27.||Mariposa Place (W. San Carlos Housing)||80||San Jose||under construction||Sep 2024|
|28.||Bellarmino Place Apartments||116||San Jose||under construction||Sep 2024|
|29.||Roosevelt Park||80||San Jose||pre-construction||Nov 2024|
|30.||Alum Rock Multifamily||60||San Jose||under construction||Mar 2025|
|31.||Algarve Apartments||91||San Jose||pre-construction||May 2025|
|32.||The Magnolias||66||Morgan Hill||pre-construction||Jul 2025|
|33.||Sunol-West San Carlos||154||San Jose||under construction||Aug 2025|
|34.||The Charles||99||San Jose||under construction||Sep 2025|
|35.||Alvarado Park||90||San Jose||pre-construction||Sep 2025|
|36.||Tamien Station TOD||135||San Jose||pre-construction||Jun 2025|
|37.||La Avenida||100||Mountain view||under construction||Nov 2025|
|38.||231 Grant||110||Palo Alto||pre-construction||Jan 2026|
|39.||The Hub at Parkmoor||80||San Jose||pre-construction||Jan 2026|
|40.||Distel Circle||90||Los Altos||pre-construction||Feb 2026|
|41.||Mountain View Lot 12||120||Mountain View||pre-construction||Mar 2026|
|42.||Montecito||85||Mountain View||pre-construction||Mar 2026|
|43.||Orchard Gardens||93||Sunnyvale||pre-construction||Apr 2026|
|44.||797 S. Almaden||99||San Jose||pre-construction||May 2026|
|45.||Gateway Towers||300||San Jose||pre-construction||Jul 2026|
|46.||Hawthorn Senior Apartments||103||San Jose||pre-construction||Aug 2026|
|47.||Civic Center Multifamily||108||Santa Clara||pre-construction||Aug 2026|
|48.||Sonora Court||176||Sunnyvale||pre-construction||Jan 2027|
|49.||Mil on Main||219||Milpitas||pre-construction||Jan 2028|
|50.||Casa de Novo (Rehab)||TBD||San Jose||pre-construction||Nov 2022|
|Total New Units||4,481|
|Total Renovated Units||689|