Ensemble Real Estate Investments has begun construction on Parkside, a 301-unit apartment complex at 2301 Calle Del Mundo in Santa Clara’s Clara District. The eight-story project carries an estimated $190 million price tag after the developer spent an extra year refining plans to cut costs by 10 to 15 percent and secure financing.
Bank of America provided the construction loan. Value engineering focused on more efficient kitchen and bathroom designs and reduced variation among unit types, making the numbers work in a high-cost environment. Amenities will include a golf simulator, cinema screening room, karaoke lounge, and other social spaces intended to create a lively residential atmosphere.
Parkside follows Ensemble’s AVE Santa Clara complex, which opened in the same neighborhood in 2025 and is fully leased. The firm views the two properties as complementary and expects 500 to 1,000 additional units to arrive in the Clara District over the next few years. Ensemble also holds further entitlements in the area and aims to start its next project within two to three years.
The site once held light industrial buildings, continuing the district’s shift toward housing. With an anticipated opening in fall 2028, Parkside adds another substantial residential option to a neighborhood that saw significant new apartments arrive in 2025.
Source: SVBJ
