Holland Partner Group Buys the Stevens Creek Corner for 575 Apartments

Holland Partner Group closed on the 4.7-acre corner at 3896 Stevens Creek Boulevard this week, paying $22.3 million according to documents filed August 26 at the Santa Clara County Recorder’s Office. Local families that include Joseph Rubino Jr. sold the land. The purchase locks in a project the city already entitled: two eight-story buildings with 575 apartments at Saratoga Avenue and Stevens Creek, a few blocks from Northlake Drive and about two miles west of Valley Fair and Santana Row.

Building 1 will face Saratoga and hold 264 units. Building 2 will front Stevens Creek near Northlake with 311. Twenty-nine apartments are slated for very-low-income households, a band the state currently sets at $71,950 for one person and $102,750 for a family of four in Santa Clara County, against area medians of $143,850 and $205,500. Ground floors will carry about 13,600 square feet of retail, split 7,600 and 6,000 between the two buildings. Plans also call for roughly 25,000 square feet of amenity space, including fitness rooms, co-working, clubrooms, lobbies, and podium pool decks. TCA Architects drew the metal, screen, stone, and stucco faces. A public plaza is mapped to the busy corner.

That corner used to be headed in the opposite direction. Cypress Equities had an entitled 882,000-square-foot office and retail scheme that once included a large Life Time athletic club. Office demand collapsed, and Holland flipped the site to housing. San Jose made the project its first approval under the city’s streamlined ministerial ordinance in December 2025, cutting a process that often takes about 20 months down to eight. The count later grew from earlier 532- and 540-unit versions to 575. Existing low-rise shops, including Hokkaido Buffet, are slated for demolition. Across the boulevard, CRP Affordable Housing is already building 59 income-restricted units at 3941 Stevens Creek.

The Stevens Creek Urban Village Plan asked for exactly this kind of swap: parking lots and strip frontage turned into housing, shops, and sidewalks wide enough that people might linger. Holland’s filings promise a stronger pedestrian edge and a Class IV bike lane along the project frontage. Westsiders who drive that intersection every day will notice the height first. The more useful test comes later, when the retail actually opens and the 29 below-market units lease to the households the paperwork names.

Construction timing and cost have not been published. The deed is recorded. The drawings are approved. The next visible change on that corner will be the wrecking of the buffet and the start of two towers where an office campus never arrived.

Source: The Mercury News