Deadline Extended For Popular Los Gatos Affordable Housing Unit

Los Gatos CA

16 February, 2022

12:00 PM

Description

LOS GATOS, CA — The deadline for applications for an affordable housing unit in Los Gatos that has received at least 80 interested bids so far has been extended to Thursday. The deadline for the two-bedroom, two-bathroom unit, at 260 Union Avenue, had been Tuesday. Priced at $260,067, the unit is being offered to households earning 80 percent or less than the median income for Santa Clara County. The high demand for the one unit underscores the high demand for low-cost housing in one of the country's most expensive markets for home buyers. The Mercury News reported last week that eighty-one applicants have put in for the unit. 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. Applicants will be ranked following a lottery and a "point system" that prioritizes people who live or work in Los Gatos. Click here to read more in the Mercury News and here for information on the property and the application.