Las Palmas, in partnership with Simpson Housing Solutions, completed construction on an affordable family apartment complex in San Jose, California, in July 2007. Almaden Family Apartments offers 1-bedroom, 2-bedroom, and 3-bedroom units. The community is affordable to families earning between 50% - 60% of the area median income.
The complex features a 2,175 square foot clubhouse/community room, which houses a large multi-purpose social room equipped with a big screen television, fireplace, relaxing lounge seating, and game tables. The clubhouse also includes a computer learning center, fitness and business centers, as well as on-site manager and leasing offices, a full kitchen, interior mailroom, and an attached laundry room. The landscaped grounds feature a tot lot, sparkling pool and spa. Almaden Family Apartments is located near grocery stores and banks, as well as public transit and a light rail station.
|1 Bedroom (1/1)||-||Income Based|
|2 Bedroom (2/1)||-||Income Based|
|3 Bedroom (3/1)||-||Income Based|
Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.
Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in San Jose but actual income limits may differ for units at Almaden Family Apartments.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|Very Low Income (50%)||$59,000||$67,400||$75,850||$84,250||$91,000||$97,750||$104,500||$111,250|
|Low Income (60%)||$70,800||$80,880||$91,020||$101,100||$109,200||$117,300||$125,400||$133,500|
Almaden Family Apartments is managed by WinnCompanies.