Developer Dan Hudson has his eye on 138 Stockton Ave, which is in an ideal location near the new Whole Foods, Diridon Station, the SAP Center, and the Downtown Core. A couple weeks ago Hudson Companies turned in a plan for seven-story residential project on a 1.7-acre parcel that would have 166 units and almost 9,000 SQFT of retail space. You can see a preliminary drawing of the proposed project below.
Unfortunately, there is no commercial space being included as part of this project. With such great proximity to public transit (Caltrain, Bus Rapid Transit, Light Rail, and eventually BART and HSR), this site would be ideal to have some at least one floor of offices. Don't get me wrong, I'm still thrilled to see this proposal in the area. However, we do need to increase the balance of office space versus residential in the Downtown area at some point this decade to make sure the local economy is balanced and we don't remain the largest city in the US that has a larger population at night than during the daytime.
Source: SVBJ, Hat-tip to Andy Wasklewicz for sending this in.