A South Bay government agency has bought another San Jose senior citizens affordable housing complex, its second such purchase in a week.
SAN JOSE — A South Bay government agency has bought another San Jose senior citizens affordable housing complex that had been seized by federal officials through the foreclosure of a delinquent mortgage.
The housing agency paid $2.65 million for the Jardines Paloma Blanca complex, according to the documents filed with the County Recorder’s Office. This marked the second time within a week that HUD foreclosed on a mortgage for a senior citizens housing center and then promptly sold the complex to the County Housing Authority.
In the case of the Jardines Paloma Blanca complex on North Jackson, HUD provided the mortgage to an affiliate of Macsa Housing Corp. in 1994.
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