Community Corner
Affordable Housing Unit In Los Gatos Gets More Than 80 Applicants
The Mercury News reported that the 982-square-foot South Bay unit selling for $260,000 has 81 applicants as of this week.
LOS GATOS, CA — Los Gatos has received more than 80 applications for a $260,000 housing unit that is classified as affordable under the town’s Below Market Price Housing Program, according to the Mercury News, underscoring the high demand for low-cost housing in one of the country’s most expensive markets for home buyers.
The property at 260 Union Ave. is 982 square feet with two bedrooms and two bathrooms. Eighty-one applicants have put in for the unit, the Mercury News reported.
This is the only affordable unit being sold through the program, which is being operated through the Bay Area affordable housing program HouseKeys. Only first-time home buyers are eligible to apply.
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Applicants will be ranked following a lottery and a “point system” that prioritizes people who live or work in Los Gatos.
Applications were accepted beginning Jan. 27 and the deadline for the drawing entry of Feb. 15.
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Click here to read more in the Mercury News and here for information on the property and the application.
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