South Bay seniors face unique challenges. Many are on fixed incomes while facing rapidly rising housing costs. Affordable housing earmarked for seniors is critical to making Santa Clara a livable, multigenerational community for all of its citizens.
Of the 361 proposed units, 181 will be affordable, with many allocated specifically for those 55 and over.
An available below-market home for a senior can be the differentiator between a comfortable, safe environment in which to spend one’s golden years, or an extended period of financial stress and uncertainty. In Core’s portfolio alone there are 634 seniors waiting for space in only 379 units, which rarely become vacant. Agrihood’s below-market homes for seniors will add badly-needed new inventory for those who cannot afford to wait.
Santa Clara County, and every city within it, recognizes the need for dedicated senior housing. It’s difficult to keep pace with the need because seniors tend to stay in housing twenty or more years in many cases. Seniors prefer to age in place, resulting in long waiting lists.
In Santa Clara, 70% of senior households are considered to be in the low, very low, and extremely low-income brackets, with half of this group falling into the extremely low bracket. Throughout Santa Clara County, nearly 30% of the population will be over age 60, creating a steadily rising need in the immediate term.
Not only will we house our seniors, but we will promote physical and mental longevity through outdoor activities, therapeutic gardening at Agrihood’s transformational urban farm, and accessible healthy, organic food and produce.