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New Jersey Industrial

SOMETHING OLD, SOMETHING NEW

Tomorrow, Santa Clara County’s housing authority will cut the ribbon on Cypress Gardens, a 125-unit affordable seniors community in San Jose. The agency just completed a 13-month, $7.6M rehab of the complex, which it calls a showcase for creating public-private partnerships to revitalize public housing. Originally built in 1984, Cypress Gardens suffered from years of neglect and deferred maintenance due to limited federal funding. The housing authority’s private partners included: Chase, the construction lender; Prudential, the permanent lender; and investor PNC, director of real estate services Vanessa Cooper told us today.

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