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Originally Posted by mt_climber13
Are any of these developments near transit “affordable” (less than $500k), or are they all “luxury” housing? May be moving to SJ area next year for job. What is the affordable housing situation like in SJ? Is it a lottery system similar to SF?
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If you are moving to SJ from SF then the housing here should feel more affordable in general.
The City has just implemented an affordable housing in-lieu fee for rental projects and inclusionary housing ordinance for for-sale units. Theoretically, the SJ's affordable housing stock should start growing soon since the developers are now obligated to either pay a fee into the fund that will be used to finance affordable housing or to provide below market rate units in their developments. How this new requirements (i.e. costs) will affect housing production levels we are still yet to see.
There are great examples of future TOD projects in San Jose. For example, VTA in partnerships with private developers will be redeveloping 3 of their site located next to transit stations: Tamien, Blossom Hill, Curtner.
To see what's available now, take a look at the list of the affordable apartments posted on the City website:
http://www.sanjoseca.gov/DocumentCenter/View/18668