None
EN
San Jose approves loan for downtown workforce housing high-rise tower
['Devan Patel']
Bay Area breaking news, local news and more | The Mercury News
San Jose officials have committed a significant public subsidy for the Gateway Tower project, a step that will help the first high-rise workforce housing complex downtown begin construction early next year and add hundreds of much-needed units to the city’s housing stock.
“The total cost of development just speaks to the high challenge we have in building these types of developments within the downtown area,” Housing Director Erik Solivan said.
With the region facing an affordability crisis and struggling to keep up with state mandates on housing production, city officials touted the benefits of the Gateway Tower project.
“It’s also unique as the only purpose-built affordable housing high-rise in our downtown.
With the Gateway Tower, we have a unique opportunity here.”