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8/04/16
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Oak Grove Apartments, a $34 mil, affordable housing development in San Jose, has officially opened to residents, with the complex fully leased. The project, which provides 134 units of permanently affordable housing to low-income families earning at or below 60 percent of the Santa Clara County area median income, is a development of ROEM Corporation.
Located at 5568 Lexington Ave on what was formerly the Hitachi Global Storage Technologies campus, Oak Grove Apartments is part of a 295-acre master-planned community that will include condominiums, apartments, attached townhomes, many pocket parks, and a large 10-acre park with a baseball field.
Oak Grove Apartments consists of a five-story apartment building wrapped around a multi-story 149-space parking garage. Amenities include a community room with kitchen, computer room, children’s outdoor play area, gym, laundry facility, and outdoor courtyard.
ROEM is currently pursuing LEED Gold certification for Oak Grove Apartments. In addition to being constructed with sustainable building methods and materials, Oak Grove Apartments includes a number of ‘green’ features to ensure the development’s long-term energy-efficiency and sustainability. These include:
• Water-efficient fixtures;
• Efficient landscape design using native species and zero turf;
• Energy Star appliances;
• High efficiency windows;
• Solar PV system; and
• Exceeding Title-24 building energy efficiency standards by 19 percent.
Oak Grove Apartments development is being financed through four percent Low Income Housing Tax Credits and tax-exempt bond financing. Citi Community Capital provided a permanent loan of approximately $17.8 mil. Funding was also provided by Alliant Capital Ltd. Pacific Housing is a partner on the project. The architect is Architects Orange and the general contractor is ROEM Builders Inc.
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