Look at what just returned from the grave! Back before the recession of 2008, there was a tower proposed for the triangular area where Market St. and First St. come together in Downtown San Jose's SoFA District. Currently there is a parking lot, a dry-cleaner, and a few single-story retail buildings on the site. I thought this project was gone from good, but Robertee from the SJ Development forum found a new permit application as well as some killer renderings for a potential tower on 470 S Market Street!
The project would be 255 feet tall, 23 floors, and contain 275 residential units. There would be BOTH market-rate and affordable housing and each would be completely separated. In fact, there is no point where the different unit types even touch one another. They even have different lobbies and elevators.
The Market Gateway Tower would have a swimming pool 70 feet above ground, which would be Downtown San Jose's highest swimming pool (perhaps even the highest in the Bay Area). On the bottom of the building would be a large retail pad for an art gallery, theater, or traditional retail. There would also be a smaller retail pad ideal for a restaurant. One cool item to point out is that the building appears to maintain the facade of several existing structures currently on the block. Above the retail would be five levels of parking.
I really, really hope this happens. SoFA has gotten some serious momentum this year and it will only get more after The Pierce is completed. Market Gateway Tower would be a game-changer for the area!
Source: San Jose Development Forum