The City Council is expected to expedite the construction of four new rental housing projects in North San Jose, valued at about $1 billion. The projects are expected to add 8,800 new jobs to the local construction industry, where unemployment is currently at about 30 percent. As a first step in easing the projects’ construction, the Council voted unanimously to lift the current affordable housing requirements in redevelopment zones, which, they claim, have prevented a number of potential projects from moving forward.
The largest new project, Crescent Park, will add 1,750 new housing units to San Jose. The other projects are Vista Montana with 998 units, another 769 unit complex, and a 704-unit Northpointe/Baypointe project. All told, the projects will add just over 4,200 new residential units to the city.
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