Saturday, September 12, 2009

September 2009 Downtown Dimension Highlights

It's that time again, the latest issue of Downtown Dimension has arrived and here are the cliff notes:
  • 360 Residences is now open! The sales office has been moved from the Fairmont Annex to the 5th floor of the 360 Residences building, freeing up a key retail space in the process. Owners will start moving in towards the end of the year.
  • High-rise condo sales updates:
    • Axis: ~25% occupied (~80 units), sounds like they are selling about 4 homes a month.
    • The 88: selling an average of 4 condos per week
    • City Heights: over 50% occupied (over 62 units sold)
  • There will be a San Jose Open House from Sep. 26-27 where all 4 condo high-rises will be open and offer refreshments from downtown restaurants and pedicab rides between each tower.
  • 3 Downtown buildings are receiving Facade improvements:
    • Anaconda Building
      • 150 year old building at the entrance of San Pedro Square.
      • Ground floor anchored by Starbucks and La Victoria, which is finishing its expansion.
      • U Food Grill, featuring healthy dishes, will be moving into the remaining ground floor space.
    • Hackett building
      • Currently houses Pizza Chicago which will get new outdoor seating after the remodel.
      • Looking for a new tenant adjacent to Pizza Chicago.
    • Bo Town Restaurant
      • Getting a new roof, tiles, doors, lighting, and landscaping.
  • Decision to lower building heights by 2 floors on new development to accommodate airport complaints, has been postponed (hopefully indefinitely). Developers and urban advocates continue to push for taller buildings while SJC is fighting for the opposite.
  • First Street Improvements continue! Beautification projects between Santa Clara <> San Fernando and San Carlos <> Reed (SoFA) have been completed over the past couple of months. Later this year, Groundworks will "Beautify" the section of First Street that connects these 2 corridors... making one contiguous, walkable district between Santa Clara St. and SoFA.
  • Eleven new on-street parking spaces have been added in various Downtown San Jose locations.
  • The Center for the Performing Arts is getting a new 5,000 sqft lounge with a bar and seating for 350 people.
  • ZeroOne received almost $1 million for their next event (Sep. 15-19, 2010), check out for more information.

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