Designed to LEED Gold specifications, 84 new apartment homes for low-income families in San Jose are now open
SAN JOSE, CA – November 29, 2011 – (RealEstateRama) — On Monday, November 28, 2011, San Jose celebrated the grand opening of Brookwood Terrace Family Apartments, a development by ROEM Corporation and Eden Housing, Inc., in collaboration with the City of San Jose. The grand opening celebration was held at 1346 East San Antonio Street in San Jose, Calif.
“As a long-time supporter of affordable housing in San Jose, I am proud of this new, attractive, sustainable community for low-income families in my district,” noted Assembly Member Nora Campos. “Developments like Brookwood Terrace not only provide a safe, decent home for working families, they provide important economic activity and create green jobs.”
Brookwood Terrace offers 84 one-, two- and three-bedroom family apartments that are affordable to families with annual incomes ranging from 30% to 50% of the Santa Clara County Area Median Income. The development consists of three stories above a one-level subterranean parking garage and is located approximately 1.5 miles east of San Jose’s downtown core. Project amenities include two large landscaped courtyards with barbeque and seating areas, a tot lot, a community room with kitchen and library, a computer center, and a fitness room.
“Brookwood Terrace demonstrates Eden Housing and ROEM’s exemplary commitment to developing socially responsible and environmentally friendly projects,” said Sam Liccardo, Councilmember, District 3, City of San Jose. “This great community asset will add vitality to the neighborhood and much needed affordable housing, while helping the City meet its Green Vision goals.”
“We are grateful for our partnership with ROEM and the City of San Jose on this wonderful new community,” said Linda Mandolini, Executive Director of Eden Housing. “As Eden Housing’s seventh affordable development in San Jose, Brookwood Terrace represents our shared commitment to quality, affordability, and sustainability.”
Designed by award-winning KTGY Group, Inc., this exciting $24.9 million development is environmentally-sensitive and transforms the underutilized infill site into a high-density residential development. The project is constructed using sustainable building methods and incorporates a number of “green” features designed to ensure its long-term energy-efficiency and sustainability. To this end, Brookwood Terrace is designed to U.S. Green Building Council’s (USGBC) LEED Gold specification, one of the highest standards in industry guidelines for sustainable building and maintenance.
“By utilizing the latest in USGBC’s LEED strategies, we have submitted for LEED Gold Certification on our Brookwood Terrace development. As a result, we have already begun to realize what we see as long-term benefit at the property operations level as well as inside the homes of our residents with reduced utility costs. This development is an example of our continued commitment to build high quality, eco-friendly affordable housing that benefits our residents, visitors, and the surrounding communities we serve,” said Jonathan Emami, Vice President of ROEM Corporation.
“It’s rewarding working with an affordable developer/contractor like ROEM that can deliver the high quality community they asked us to design,” said Keith Labus, AIA, LEED AP and Principal of KTGY Group Inc.
Brookwood Terrace Family Apartments is financed with 4% Low-Income Housing Tax Credits and tax-exempt 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 of up to $8.0 million. The architect is KTGY Group Inc., the general contractor ROEM-ICON Contracting Group, Inc., and ROEM Builders, Inc. is the construction manager.
About Eden Housing
In its 43 years of service throughout Northern California, non-profit affordable housing provider Eden Housing 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 or acquired more than 6,300 homes and 61,100 square feet of adjoining commercial/retail space in 85 properties. Eden Housing has more than 4,500 apartments in its property management portfolio and provides access to supportive resident services programs at 100% of its communities. For more information about Eden Housing, visit www.edenhousing.org.
About ROEM Development Corporation
ROEM Development Corporation, ROEM Builders, Inc. and their affiliated entities are a full-service development and construction organization that has been specializing in the acquisition, planning, financing, new construction, renovation, and asset management of affordable housing for families and seniors throughout California for over 30 years. As a model developer and proven industry leader in the production of affordable housing, ROEM maintains its commitment to providing high quality housing through its collaboration with the public and private sector and communities alike, while completing developments with quality control and efficiency.
Ranked in the Affordable Housing Finance Top 50 National Developer’s list, and a registered member of USGBC and Build It Green, ROEM is dedicated to creating wholesome communities that are not only sustainable, but are designed smarter and built better to ensure that residents and visitors are healthier, happier, and safer.
To date, ROEM has completed 14 affordable housing projects totaling approximately 1,583 units with 4 affordable housing projects totaling approximately 250 units currently under construction. For more information about ROEM Development Corporation, see www.roemcorp.com.
About KTGY Group, Inc.
Celebrating its 20th year this month, KTGY Group, Inc., Architecture and Planning, provides comprehensive planning and award-winning architectural design services for residential communities, retail, hospitality, mixed-use and related specialty developments. KTGY delivers innovative solutions that reflect clear understanding of development, market trends and financial performance and takes particular pride in its highly motivated and principal led studios. Serving clients worldwide, KTGY maintains offices in Irvine, Oakland and Santa Monica, Calif., Denver, Colo., and Tysons Corner, Va. See www.ktgy.com.
