Villa Hermosa

Property Description

Villa Hermosa, located in San Jose, is perfectly situated for senior housing. The development is flanked by a public park, 9-hole public golf course and new ownership housing. Health facilities and shopping centers, as well as major freeways, are also nearby. It is one of several uses of land located on the site of an old golf course.

Please note: all applicants must be at least 55 years of age in order for an application to be accepted.

The waitlist for Villa Hermosa is open:
https://jscosccha.com/forms/villa-hermosa-tax-credit-application/

Year Completed: 1999

Development Type: New construction

Unit Mix: 99 one-bedroom units

Total Cost: $11,043,834

Financing: Union Bank of California construction loan and Citibank mortgage; City of San Jose loan; Fannie Mae as 9% tax credit equity based investor; City of San Jose subsidy loan.

Architect: TWM Architects

General Contractor: Barry Swenson Builder

Population Served: Seniors

Rental Assistance: Tax Credit Property – below market rate rents; tenant-based Vouchers accepted.

Current Rent: 1 bedroom – 40% – $1,220.

Income Requirements: Households must be within the 40% category of the Tax Credit Income Limits.

Amenities/Special Features: On-site Maintenance Manager, Community Room, Elevators, Coin-operated Laundry Facility, Patio or Balcony, Non-Smoking Community.

Pets: Pets are allowed at this property, with a $300 pet fee per pet (max of 2).

Smoking: No smoking is allowed in the apartments, grounds or common areas. Smokers must exit the property to smoke.