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Affordable‑housing analysis finds San José costs in line with Bay Area peers; unit mix and financing timing drive outcomes
Summary
CSG Advisors and city staff told the council that San José’s affordable‑housing development costs per unit are broadly comparable with the Bay Area, but smaller average unit size and reliance on state and federal subsidies shape per‑square‑foot and per‑unit figures; timing misalignment with state credit cycles can add costs.
San José — In a parallel analysis presented Dec. 8, CSG Advisors reviewed nearly 200 tax‑credit applications across California and concluded San José’s per‑unit development costs for affordable housing generally align with regional norms, though unit mix and financing timing create distinct cost pressures.
Nicole Graham of CSG Advisors said the study used about 194 proposed affordable projects — many filing TCAC applications — and that roughly 20% of those units were in Santa Clara County. She cautioned the dataset reflects application‑stage costs, which are not…
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