SAN JOSE >> An affordable housing development for seniors that could sbe built near downtown San Jose has taken a key step forward following a property purchase for the project site.

Paying $4.1 million, the Santa Clara County Housing Authority now owns the property through an affiliate that it controls, documents filed on Wednesday with the Santa Clara County Recorder’s Office show.

The proposed development is located at 715 East St. John St. near North 15th St., where the long-defunct and demolished San Jose Medical Center once stood.

The project is expected to consist of 103 residences — 101 affordable apartments and two manager’s units — on a 1.1-acre site in a single building, according to Santa Clara County’s Housing and Community Development Department.

“The first floor consists of common areas with a shared computer room,” the Santa Clara County report states. “The second floor contains community space, shared laundry areas and an outdoor courtyard for communal events as well as garden plots for residents.”

The affordable residences will include 20 units to help homeless individuals and families with special needs obtain and maintain permanent housing, 27 units for seniors who earn up to 30% of the area median income and 54 units for senior households earning up to 50% of the area median income.

The Santa Clara County area median income in 2024 is $184,300 for a family of four, according to the state Housing and Community Development Department. A 30% threshold would equate to $56,290 and a 50% benchmark would work out to $92,150.

Construction could begin by the end of the year or early 2025 and be completed by the end of 2026.

The overall project cost is expected to total $76.1 million. This includes $61.6 million in construction financing.