Santa Clara Snags Affordable Units
Yesterday, the City of Santa Clara opened much-needed affordable housing for seniors. (Affordable for our grandma would mean being able to pay rent with $2 bills.) Camino del Rey Senior Apartments, a ROEM Corp development, offers 48 one-bedroom apartments for seniors with annual incomes at or below 60% of the county area's median income. It's 100% occupied. The $15M development consists of a three-story C-shaped building, wrapped around a landscaped courtyard. Amenities include a community room with kitchen, a computer room, a fitness center, a laundry facility, community gardens, benches, and fencing.
A goal of the landscape design was to create a sense of privacy, providing a continuous canopy of shade along the street. The quality of the construction looks and feels like a market-rate community and the private courtyard is a "hidden gem" for residents, says KTGY principal Keith Labus. The apartments are pursuing a LEED-H Platinum. It marks AEGON USA Realty Advisors' seventh investment with ROEM. The city invested $7M in the development. Similar projects could be coming; mayor Jamie Matthews says affordable housing is a City Council priority.
