The CMFA Closes Tax-Exempt Financing for the Park Avenue Seniors Apartments

The Park Avenue Senior Apartments project is a new construction project of a 100-unit affordable senior housing development. The development is an affordable housing, transit-oriented development to be located in downtown San Jose. The Housing Authority of the County of Santa Clara will be acting as the developer. The project is just over one acre and will consist of a five-story podium style building with garage and fitness room on the first floor and four stories of residential units above. There will be a total of 42 parking spaces and 100 units with 99 being restricted for low-income seniors and one unit set aside as a manager’s unit. This financing will create 99 units of affordable senior housing in the City of San Jose for the next 55 years.

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