2358 Alum Rock Ave., San Jose, CA 95116
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Studio - 3 Beds | 1 - 2 Baths | - |
Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
Vela is a 7-story, mixed-use development offering 87 affordable homes serving individuals and families of San Jose and the County of Santa Clara. Located in the Mayfair Neighborhood in East San Jose, Vela is a transit oriented, green-point rated development steps from VTA’s rapid bus transit line. This one-of-a-kind project has 43 homes set aside for formerly unhoused individuals and families; 14 of which are reserved through the County’s Rapid Rehousing Program (RRH) and 29 of which are reserved for Supportive Housing (PSH). On-site, wrap around supportive services are provided by PATH. There is a mix of studio, 1-, 2-, and 3-bedroom units in this community.
This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests Vela Apartments does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Studio (Studio/1) | - | Call for Price† |
| One Bedroom (1/1) | - | Call for Price† |
| Two Bedroom (2/1) | - | Call for Price† |
| Three Bedroom (3/2) | - | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $62,450 / year | $71,400 / year | $80,300 / year | $89,200 / year | $96,350 / year | $103,500 / year |
| 50% AMI for PBRA Units | $62,450 / year | $71,400 / year | $80,300 / year | $89,200 / year | $96,350 / year | $103,500 / year |
| 60% AMI for LIHTC Units | $74,940 / year | $85,680 / year | $96,360 / year | $107,040 / year | $115,620 / year | $124,200 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Vela Apartments have a waiting list?
Vela Apartments probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Vela Apartments?
We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.
What property management company manges Vela Apartments?
Vela Apartments is managed by Solari Enterprises Inc. headquartered in Orange, California.
In addition to Vela Apartments, how many other affordable housing properties (and units) are there in San Jose?
In addition to Vela Apartments, we list 232 other affordable properties in San Jose. Learn about these properties here. Our data research shows that there are a total of 20612 affordable units in San Jose.
When was the Vela Apartments listing last updated?
Vela Apartments listing on Affordable Housing Online was last updated on 08/18/2023 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
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Always check the program's income limit.
Most federal housing programs serve renters earning 80% or less of the Area Median Income (AMI), or less.Cha'Von Shawntaye Nichole says:
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