County Tax Assessor Dabbles In Real Estate

SAN JOSE, CA-A Santa Clara County official is drafting environmental studies for a project that will add 249 affordable rental units to San Jose’s downtown area.

Santa Clara County Tax Assessor Larry Stone has partnered with San Francisco developers to form Seven Hills Development. The trio has selected a downtown lot to build a four-story, 249-unit apartment complex, which is called Cinnabar Commons. The complex will be near West Santa Clara Street.

The developers are working with Stone to conduct environmental studies to present to the San Jose City Council in February of next year. The project will only take about a year to build, and is scheduled to begin next spring.Originally, the developers planned to include 100 units that would be available for sale, but the plans did not work out. The current plans include affordable housing on two levels.