San Jose is the Third Most Costly US Rental Market

Affordable housing project, Charlotte Park, is already fully leased.

SAN JOSE—With the near completion of 200 affordable housing homes, the $46 million Charlotte Park Apartments is a case study in building an affordable residential rental community within a market-rate development. In this case, ROEM Corp. satisfied most of the affordable housing requirement of the Hitachi master-planned community and with completion slated by the end of June, Charlotte Park is already fully leased.

Alex Sanchez, executive vice president of ROEM Corporation, tells GlobeSt.com: “The need for affordable housing has never been greater. San Jose is now the third most expensive rental market in the country, according to recent statistics from Zumper, an apartment rental website. ROEM has a long history of building affordable high-quality, amenity-rich homes in Silicon Valley, and is proud to have developed 2,266 affordable housing units in the city of San Jose. Through the winning combination of creative financing and partnerships with market-rate developers and public stakeholders, ROEM remains committed to building new high-quality housing for everyone.”