used voter-approved bonds to build 122-unit project on school property.
Including the recent purchases, the school now owns six apartment buildings with about two dozen units near school grounds on Troy Drive and Northlake Drive. Harker bought a fourplex at 525 Northlake Dr. in March for $1.9 million, according to public records. It closed a purchase in late May on another four-unit building on Troy Drive for $1.9 million.
But neighbors are concerned about their community, a tidy neighborhood of older, two-story apartment buildings adjacent to the upper school campus of the Harker School. Residents in the rent-controlled units often stay for decades, taking advantage of below-market rates and a stable neighborhood. Tenants in the Troy Drive building say they pay between $1,000 and $1,200 a month for their two-bedroom units.
She has begun searching for affordable apartments near family and friends, from Marin County all the way south to Los Angeles, she said. “I’ve been looking, but there’s not much available.” SAN JOSE, CALIFORNIA – May 20: One of the two apartment buildings purchased by the Harker School is photographed in San Jose, Calif., on May 20, 2022.
Source: Education Headlines (educationheadlines.net)
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