Arya, an affordable housing development that will add 87 rental units in SoFA district, recently broke ground. Arya is the result of the partnership between the city, Satellite Affordable Housing Associates (SAHA) and other regional agencies.

The development’s units will be available to households earning between 30 and 60 percent average median income in San Jose. Arya will provide affordable housing on city-owned land, serve as a model for addressing climate change through emission-reduction strategies, and add transit and pedestrian improvements to serve the surrounding area.

“We are seeing an acceleration of affordable housing developments with new and innovative approaches. It’s heartening to see the traction we are making despite the pandemic in building not just affordable housing but great communities,” said Sam Liccardo, San Jose mayor.

The city provided the land, formerly a city parking lot, for the project’s location along with more than $15 million for the construction. SAHA also utilized state funds secured in partnership with the city and VTA through an AHSC grant, among the first projects in San Jose to do so.

Chase provided critical funding to SAHA as the tax-exempt construction bond and permanent lender for the project.