KT Urban has to be the most prolific Downtown San Jose developer right now. They were responsible for Axis, One South, and played a big part in Silvery Towers. Those three also happen to be among the most impressive projects in the area. KT Urban has built a strong brand for themselves--they know how to move projects forward and deliver a quality product. That is one of the reasons why I was excited when they proposed the largest residential project in the history of Downtown San Jose last month.
KT is looking to build 708 residential units in an area currently occupied by a Greyhound Bus station. The project consists of two towers, one would be 24 stories (251 feet tall) and the other would be 23 stories (241 feet tall). There would be 13,5000 SQFT of retail on the ground floor, mostly along Post Street. The location is also very central, with easy access to most of Downtown's amenities.
A few more details have leaked out. The project would include a five-story 708 space parking garage, two levels would be above ground and three under ground. If this number is correct, that means there would only be one space per unit built. Since some spaces will be reserved for retail, this means that there is an assumption that not everyone who has a unit is going to purchase a parking space. This would represent a substantial change of in mentality for the area. Perhaps not everyone needs a car in San Jose. The new project will be close to Light Rail, Bus Rapid Transit, Caltrain, some of the best bike lanes anywhere, and eventually BART. If they only build 708 parking spaces, this could represent the beginning of a new era for Downtown.
Speaking of transit, the article referenced below mentioned that the Greyhound station will likely move to Diridon Station. That seems like a much more appropriate location and I wonder why it was not located there in the first place.
There are now 8,629 residential units that are either existing, under construction, or proposed in Downtown San Jose. That is the largest number in history, and the way things are going we may see it rise even further in 2016.
Source: The Registry