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2016 Measure A Housing Bond Progress

Program Overview

On November 8, 2016, the people of the County of Santa Clara approved Measure A, a proposition authorizing the County to issue up to $950 million in general obligation bonds to acquire or improve real property for the purpose of providing affordable housing for vulnerable populations throughout the County. We provide the following highlights about the Measure A Program (Program):

  • ​Program funds are targeted to help construct 4,800 units of affordable housing, in addition to assisting about 235 families to secure loans to finance their first homes.
  • In October 2017, after adopting a range of program guidelines over the use of Program funds, the County issued its first bond tranche of $250 million.
  • As of December 31, 2019, the Program has committed over $286.68 ​million, of which $25 million is committed to the first-time homebuyer loan program, $11.9 million has been committed to a Supportive Housing Fund for predevelopment loans and about $249.78 million has been committed to 21 housing developments.
  • These housing developments are in the process of adding 1,562 units of affordable housing included in the County’s housing goals, and an additional 230 units of low-income housing that are not addressed in the Program’s housing goals (as discussed in the Housing Program Goals section below).
  • As detailed in the program overview dashboard below, this means that 30.18 percent of all bond proceeds are financing the development of 32.54 percent of the Program’s housing goals.
  • In addition, for every dollar invested by the Program, the Program incentivizes an average of $3.04 from outside investments (Public/Private Leveraging Ratio).​​

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Use of Bond Proceeds

The dashboards below provide details on the estimated cost share per unit and housing development, sources of funding by housing development, and actual expenditures to-date. As of December 31, 2019, we provide the following highlights:

  • The Program has committed $249,780,000 to 21 housing developments, with individual commitments ranging from $1 million (The Veranda) to $29 million (Corvin Apartments).
  • When looking at the estimated cost per unit of housing, the Program has committed anywhere from $45,752 per unit (Markham I) to $210,938 per unit (Leigh Avenue Senior Apartments), with an average cost share of $121,905 ​per unit of housing.
  • Although $249.78 million has been committed by the Program for housing developments, about $74.4 million has been actually expended to-date.​
Housing Program Goals

Program housing goals aim to create 4,800 units of affordable housing. As of December 31, 2019, Program funds helped finance 30.18 percent of the total housing goal. The status of housing development goals by type of housing are as follows:​

  • Program funds helped finance over 50.44 percent of the Permanent Supportive Housing (PSH) goal.
  • Program funds helped finance over 24.88 percent of the Extremely Low-Income (ELI) housing goal.
  • Program funds helped finance 55.0 percent of the Very Low-Income (VLI) housing goal.
  • Program funds helped finance over 7.81 percent of the Rapid Rehousing (RRH) goal.
  • There are 230 units of Low-Income (LI) housing incorporated into the current housing developments; however, the Program has no stated goal for this category of housing.

​The dashboards below provide detail on the number of units in development by housing type, as well as how each housing development contributes to each housing goal.​

List of housing developments funded by Measure A Housing Bond:

Click the name of housing development from the list below to view a detailed summary of the project.

Housing Development Total #
of Units
​City Status PROJECTED COMPLETION DATE​
1. The Veranda
19 Cupertino​ completed Jun 2019​
2. Villas on the Park​​​ 84 ​San Jose completed Nov 2019​
3. ​Monterey Gateway Sr. Apts. 75 Gilroy​ completed Feb 2020
4. Crossings on Monterey 39 Morgan Hill​ completed Dec 2019
5. Quetzal Gardens 71 ​San Jose under construction Jun 2022
6. Leigh Ave Senior Apartments 64 San Jose​ under construction Nov 2020
7. Iamesi Village a/k/a N. San Pedro Apt. 135 ​San Jose under construction Apr 2021
8.​ Sango Court
102 Milpitas​ pre-construction Feb 2022
9. Calabazas a/k/a Corvin Apartments​ 145 ​Santa Clara under construction Jun 2021
10. Markham Plaza I (Rehab)
153 San Jose​ under renovation
Oct 2020
​11. Markham Plaza II​ (Rehab) ​152 ​San Jose pre-renovation Apr 2021
​12. Curtner Studios (Rehab) ​179 ​San Jose under renovation
Nov 2020
13. Page Street Apartments ​82 ​San Jose ​pre-construction May 2021
​14. Alum Rock Family Housing ​87 ​San Jose ​pre-construction Sep 2021
15.​ Blossom Hill Housing ​147 ​San Jose ​pre-construction ​Sep 2021
16.​ Agrihood Senior Apartments 165​ Santa Clara​ pre-construction
​Aug 2022
17.​ West San Carlos Housing​ 80​ San Jose​ pre-construction​
Jan 2022​
18.​ Roosevelt Park ​80 San Jose​ pre-construction Dec 2022​​
19.​ Auzerais Apartments​ ​130 ​San Jose ​pre-construction ​Sep 2022
20.​ Gallup & Mesa​ ​46 ​San Jose ​pre-construction ​May 2022
21.​ The Algarve​ ​91 ​San Jose pre-construction​ July 2022​
22.​ Kifer Senior Apartments​​ ​80 ​Santa Clara ​pre-construction May 2023​
23.​ ​La Avenida ​102 ​Mountain view pre-construction​ Mar 2023​
24.​ Bascom Apartments ​90 ​San Jose pre-construction​ ​Nov 2022
25.​ 4th and E. Younger Apartments ​94 ​San Jose pre-construction​ ​Jun 2022
26.​ Moorpark Apartments​​ ​108 San Jose​ ​pre-construction ​Oct 2022
​27. Gateway Tower​ ​300 San Jose​ ​pre-construction ​Mar 2024
​Total New Units 2,416
Total Renovated Units 484
Total Units 2,900
 
Supportive Housing Map​
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Last updated: 6/23/2020 9:22 AM