Monday, November 27, 2023

New San Jose mixed-use project moves forward with 1,100 homes and a Whole Foods

A massive project could be headed for a shopping center at the corner of Saratoga and Lawrence Expressway across the street from Westgate. The area would be developed into a mini-Santana Row anchored by Whole Foods. In total, it would have 1,100 residential units across several multi-story buildings sitting on top of 165,000 SQFT of retail. 

The Whole Foods would be the only single-story building on the property (to simplify financing and construction). However, that is just 43,000 SQFT of the overall project. The layout would include a retail "main street" and a new neighborhood park. 

Unlike most new projects of this scale in San Jose, there won't be an affordable housing component. Everything will be market rate. However, increasing the overall housing supply has a negative effect on prices across the board and 1,100 homes is a significant number.

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