American Housing Co. Revives Plans for 368-Unit Affordable Tower in Downtown San Jose

American Housing Co., a subsidiary of Oakland-based development firm oWow, has submitted a new proposal for a 0.5-acre site located at 439-451 South 4th Street in San Jose. The plans outline a 25-story, 261-foot tower designed to include an estimated 368 below-market-rate affordable apartments, complemented by four additional manager’s residences. This initiative seeks to reactivate a development previously approved in 2024 under different ownership, substantially increasing the total number of units for the site.

The parcel's strategic location near downtown San Jose’s business district, San Jose State University, and key transportation access points makes it a prime candidate for high-density construction. Despite its potential, earlier proposals for this site have encountered difficulties in progressing past city approvals. While specific designs for the new project are still emerging, oWow may utilize its in-house architectural team to revise previous designs by Salvatore Caruso Design Corp. The real estate community, including developers and lenders, will be observing whether this latest proposal successfully moves forward to address San Jose's demand for affordable housing.