Villa Monterey
 

City of San José - Department of Housing - 4 North Second Street, Suite 1350, San José, CA 95113 - ph:408.277.4747

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A rare find, the acquisition and rehabilitation of this existing market-rate housing development helped beautify the surrounding neighborhood by giving the property a fresh and improved look. The conversion of this market-rate development increased the affordable housing supply by 120 units in a efficient and cost effective manner, and now provides homes to low- and very low-income families.  
       
       
Completed:   Anticipated completion 2002-03  
Location:   2898 Villa Monterey at Lewis Road  
Unit Mix:   120 units; 36 VLI/83 LI/1 Manager’s Unit  
Unit per Acre:   16.0  
Developer:   KDF Communities  
Architect:   None  
General Contractor:   KDF Communities LLC  
Property Manager:   FPI Management Inc.  
Financing:   City of San José - $2,950,000;  
    Other Partners - $15,743,000  
 
Total Funding:   $18,693,000