To say that the San Pedro Square area is on fire would be an understatement. Just as the Centerra tower is wrapping up, the two Silvery Towers broke ground earlier this month. Those three towers alone will add thousands of people to the San Pedro Square area. North of San Pedro, multiple projects are just waiting for the Julian Street realignment in order to get started. And yet... there is more.
The Mill Creek project will bring 8 floors of apartments right to the heart of the San Pedro Square area in what is now a parking lot. While not very tall, this infill project will create 204 new units as well as 9,500 SQFT of retail on the ground floor. One other neat feature is a new landscaped paseo next to Peggy Sue's that will also host some live/work units. This could add thousands of square feet on the retail side if the occupants choose to locate businesses on the ground floor.
This looks like another great project in the Downtown San Jose pipeline. The total cost will be around $90 million and Mill Creek is hoping to break ground by the end of the year. Oh, and the financing is already in place. This has the potential to move very quickly.