Monte Vista Gardens
2601 Nuestra Castillo Court, San Jose, CA
In 2017, CPP completed its rehabilitation of Monte Vista Gardens, a community that is 80 percent affordable and 20 percent market rate. Located in San Jose, Calif., the nation’s fastest-rising rental market, Monte Vista Gardens features premiere amenities including a resort-style swimming pool decked out with a Jacuzzi and cabanas. The 144-unit community was purchased in 2016, and a $5.5 million rehabilitation joint venture with the non-profit Jamboree Housing was completed in 2017.
PARTNERSHIPS
In a partnership with Jamboree Housing, CPP renovated the property without having to relocate any residents. Under the transaction structure secured by CPP, the families who live there will be able to stay without fear of being displaced.
Public Support
- California Debt Limit Allocation Committee
- California Tax Credit Allocation Committee
- California Housing Finance Agency
Private Investors
- Citi Bank, NA
- WNC & Associates, Inc.
Development Team
- Community Preservation Partners
- United Renovation Specialty Group
- Irwin Partners Architects
- Jamboree Housing
- City of San Jose
- Monte Vista Gardens Residents
- FPI Management
COMMUNITY
Following CPP’s extensive renovation, Monte Vista Gardens residents take advantage of the following amenities:
- Upgraded Fitness Center
- New Mailbox Room
- Enhanced Pool Area
- Cabanas
- Outdoor Furniture
- Resurfaced Pool and Spa
- Enhanced Community Room
- Kitchen
- Computer Room
- Kids Corner
- Lounge
- Media Area
- Enhanced Security
- Cameras
- Lighting
- Gating
- Secured Entry
- Enhanced Children’s Playground
- Safety and accessibility upgrades
- Drought-tolerant landscaping
- New Appliances
- New Countertops
- New Cabinets
- Replaced Plumbing Fixtures
- New Flooring
- New Windows
- Mechanical Upgrades
- LED Lighting
SUSTAINABILITY
- Energy Star Appliances
- LED Lighting
- High Efficiency Boilers
- Drought Tolerant Landscaping
