Closing Announcement: 525 N. Capitol
July 28, 2025
We’re proud to announce the closing of 525 N. Capitol—a new affordable housing community in San Jose that will bring 160 homes to households earning 30%–60% of the Area Median Income (AMI).
525 N. Capitol is designed as a culturally specific community that serves displaced and longtime residents of East San Jose. The project will provide permanent housing for Veterans, individuals and families experiencing chronic homelessness, people with intellectual and developmental disabilities, and other low-income households.
The unit mix includes studios, one-, two-, and three-bedroom apartments. Additionally, the project will feature resident-serving amenities such as a ground floor lobby and common area, bike and car parking, a community courtyard, and a kitchen space operated by a local nonprofit rooted in food justice and community farming.
A deep network of community partners—including Abode Services, Housing Choices, the San Andreas Regional Center, the VA, and the Center for Public Interest Design (CPID)—will provide wraparound services that support resident wellness, long-term stability, and personal goals. Community engagement support and outreach was provided by CivicMakers.
The project is financed through a combination of tax-exempt bonds, Low-Income Housing Tax Credits, and funding from local, state, and federal sources. This includes construction and land financing from the City of San Jose Measure E fund, Measure A and I/DD funding from Santa Clara County, an Infill Infrastructure Grant from the California Department of Housing and Community Development, and support through the Community Placement Plan and Community Resource Development Plan Priorities from the California Department of Developmental Services. First Citizens Bank is providing the construction loan, Citi is the permanent lender, and CREA, LLC is serving as the equity investor.
The project was designed by David Barker Architects and the general contractor is CDP Builders in partnership with Cahill Contractors.
