Brookwood Terrace Groundbreaking - 04/16/10

FOR IMMEDIATE RELEASE: April 15, 2010

 

San Jose Welcomes Green Affordable Housing Groundbreaking of Brookwood Terrace Family Apartments Friday, April 16th at 10:00 am 
Eighty-four new apartment homes for low income families coming to San Jose  

 

SAN JOSE, CA, April 15, 2010 - On Friday, April 16, 2010, San Jose will celebrate the groundbreaking of Brookwood Terrace Family Apartments, a development by ROEM  Corporation and Eden Housing, Inc. in collaboration with the City of San Jose. The groundbreaking ceremonycommences at 10 a.m. at 1350 East San Antonio Street in San Jose.

 

"As a long time advocate for affordable housing in Santa Clara County, I'd like to congratulate Eden Housing and ROEM for its efforts in the Bay Area," noted Congresswoman Zoe Lofgren. "Once completed, Brookwood Terrace will provide more housing options for working families in Silicon Valley."

 

When Brookwood opens in 2011, it will offer 84 one-, two- and three-bedroom family apartments that will be affordable to families with annual incomes ranging from 30% to 50% of the Santa Clara County Area Median Income. The development will consist of three stories above a one-level subterranean parking garage and will be located approximately 1.5 miles East of San Jose's downtown core. Project amenities will include two large landscaped courtyards with barbeque and seating areas, a community room with kitchen and library, a computer center and fitness room.

 

"The City of San Jose is committed to expanding affordable housing options for our residents. Brookwood Terrace is an exemplary sustainable development providing housing at a variety of affordable income levels and green building standards," said Sam Liccardo, Councilmember, District 3, City of San Jose. "In addition, development of the Brookwood project will have significant economic impact. It is anticipated to create 127 local jobs in San Jose in the first year, directly and indirectly, and 32 local jobs each year thereafter."

 

This exciting development will be environmentally-sensitive and will transform the underutilized infill site into a high-density residential development. The project will be constructed using sustainable building methods and will also incorporate a number of 'green' features designed to ensure its long-term energy-efficiency and sustainability. To this end, Brookwood Terrace is designed to achieve certification under the USGBC's LEED for Homes Rating System, the toughest in industry guidelines for sustainable building and maintenance.

 

"Brookwood Terrace represents Eden Housing's continued commitment to the development of high quality and innovative design," said Linda Mandolini, Executive Director of Eden Housing. "Not only will the development provide high quality, affordable homes in a convenient location, it will also provide residents with valuable services and opportunities that enhance their quality of life and promote a safe and stable community".

 

Brookwood Terrace Family Apartments is financed with 4% Low-Income Housing Tax Credits and taxexempt bond financing made possible by Federal Stimulus Funding (Housing and Economic Recovery Act of 2008) provided through the Freddie Mac Multifamily Bond Credit Enhancement Program (BCE). Hudson Housing Capital LLC is the syndicator and JP Morgan Chase is the upper tier investor. Brookwood Terrace also receives strong support from the City of San Jose through a loan equal to 30% of the total project costs. The architect is KTGY Group Inc. and the general contractor ROEM-ICON Contracting Group, Inc.

 

Confirmed groundbreaking ceremony speakers include: Sam Liccardo, Councilmember, District 3, City of San Jose; Leslye Krutko, Director of Housing, City of San Jose Housing Department; Jonathan Emami, Vice President, ROEM Corporation; and Linda Mandolini, Executive Director, Eden Housing, Inc.

 

About Eden Housing

 

In its 42 years of service throughout Northern California, non-profit Eden Housing, Inc has  provided a roof for over 58,000 people. Hayward-based Eden Housing is the long-term owner-operator of its developments, and is committed to preserving and maintaining its buildings as community assets and supporting residents with a range of services. Since the organization's beginnings in 1968, Eden Housing has developed 5,349 housing units and 60,100 square feet of adjoining commercial/retail space in 75 properties. For more information about Brookwood Terrace Family Apartments or other affordable housing opportunities through Eden Housing, visit www.edenhousing.org.

 

About ROEM Corporation

 

ROEM Development Corporation is an industry leader in the production of affordable housing. ROEM is committed to the creation of high quality market-rate and affordable housing products through the proliferation of high value infill communities. ROEM's integrated and innovative approach to planning, design, development, construction management, and marketing allow the company to provide complete solutions to complex urban housing demands. To date, ROEM has completed 12 affordable housing projects totaling approximately 1,400 units. www.roemcorp.com.

 

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Release Date: 
Friday, April 16, 2010

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