Waterford Launches Construction on Milpitas Affordable Housing

Waterford Property Company has begun construction on a 75-unit affordable housing community in the Santa Clara County city of Milpitas. The project is being financed with 4% low-income tax credits and private activity bonds and is set for completion in early 2028.

As part of a larger master planned community alongside new market-rate for-sale housing built by PulteGroup, Waterford’s new community is located at 1397 California Cir. and will target families with incomes between 30%, to70% of the Area Median Income. Through a partnership with nonprofit Pacific Housing, Inc, residents will have access to no-cost on-site social services programming.

“We are extremely proud of our partnership with the City of Milpitas and PulteGroup to address the region’s need for more affordable housing. Waterford’s strength is working with local governments to deliver long-term, mission-aligned housing for vital community members. This includes teachers, nurses, first responders, and working families,” said Oren Hillel, Senior Director of development, Waterford Property Company.

Connect

Inside The Story

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Order Reprints