North 4th Street Student Tower Proposal

There seems to be no shortage of exciting news related to Downtown San Jose these days! The newest development project proposal is a 26-story student housing tower at the intersection of N. 4th Street and St. John. This location is 3 blocks away from SJSU and only 1 block away from St. James Park.

At 285 feet, it would be the exact same height as the San Jose City Hall, the second tallest building in San Jose (The 88 is taller by one foot). If the height alone wasn't enough to make it stand out, the proposed design with guarantee it. If approved, the N. 4th Street tower would have the most colorful and eclectic design of any Downtown tower to date. It features almost Tetris-like cutouts both horizontally and vertically, multi-colored glass, and even trees on the roof.

The ground floor has a respectable 8,409 SQFT of retail, a 2,713 SQFT leasing office, bike parking, and retail & guest parking. Above that is four levels of parking for students followed by 21 levels of student housing with 400 units (enough for about 900 students). If that weren't enough, there is a rooftop patio and amenity area--again with trees!

There are some negatives with the design. First, the tower will be adjacent to many single family homes along 5th Street, and those homeowners are likely not thrilled to have a student housing tower as a next-door neighbor. Also, there are a ton of parking spaces for a tower designed for students--especially since BART, Light rail, Bus Rapid Transit, and protected bike lanes are all within a 5 minute walk. In combination with the advent of autonomous cars, this will be very expensive wasted space five years from now and does not promote good urban design. At minimum they should plan on building the parking floors in such a way where they can be repurposed in the future.

Overall, I have to say this is pretty exciting and would markedly improve our skyline as well as add foot-traffic to an undeserved part of Downtown.

Huge thanks to fellow blogger Kimberly Vacca for providing high-res images from the proposal! Also a shout out to Robertee from the San Jose Development Forum for being the first to post about the permit. Click on the images below to enlarge.

Aesop opens first Silicon Valley location at Santana Row

Aesop is a high-end retailer with skin, hair, and body "formulations." They have just opened a signature store at Santana Row, which is the first and only Silicon Valley location. They have four stores in San Francisco and hundreds all over the world.

The store is open now and is located between Gucci and Tesla. Hours are Monday-Saturday from 10am-9pm and Sunday from 11am-6pm.

JINS is coming to Valley Fair on August 31st

JINS is a Japanese eyewear company with 350 retail locations in Asia. They opened their first US store last year in San Francisco. San Jose gets the honor of being their 2nd location in the US. The 2,300 SQFT Valley Fair store features 960 different styles (all designed in Tokyo) and customers can receive their glasses in only 30 minutes. Prices are reasonable, starting at $60 for frames. 15 minute eye exams will be available as well.

This marks yet another instance of San Jose grabbing an international brand that not widely available in the US. Others include Warby Parker, Kit & Ace, Bonobos, Scotch & Soda, Halston, MUJI, David Yurman, Miu Miu, and many more.

JINS will be located on the second floor between Nordstrom and Old Navy.

Downtown San Jose's One South tower finally gets a tenant

After a whole year, one of the most central and well-trafficked corners in Downtown San Jose has been leased. One South is a high-end apartment tower bound by Santa Clara Street, Market Street, and San Pedro Street. Sadly, its three retail units have sat empty despite residents fillings up the 312 units upstairs. Now, a gourmet coffee shot with some food options is going to nab that prime 1,730 SQFT corner space at the intersection of Santa Clara Street and Market Street.

The tenant is Proper Cup, and they'll fit right in with the other high-end, non-chain coffee shop proliferating Downtown. Their focus will be on artisanal coffees and teas with great customer service. Proper Cup will also be offering sandwiches and soups.

If you happen to be one of the lucky residents of One South, you're about to get one more reason to love where you live. Proper Cup is going to offer room service to residents so they can order coffee and have it delivered without having to go all the way down the elevator.

Construction of the coffee shop will begin at the end of September with a goal to be open in November. One down, two more to go. The remaining retail units are 3,201 SQFT (corner space) and 1,603 SQFT.

Source: SVBJ

Sprouts and Ross will anchor a new North San Jose retail center

The San Jose area in most need of extra retail options and grocers would be in the north. Not only is that where most of are jobs are, but housing has exploded in North San Jose over that past decade. Fortunately, a new retail center called Brokaw Plaza is being built at the corner of Brokaw and Oakland Road and they announced two of their anchor stores earlier this month: Sprouts and Ross.

Sprouts Farmer's Market will take about 30,000 SQFT and is a solid options for fresh groceries. Ross will grab 25,000 SQFT and be one of the few clothing stores in the area. Both will help create a more convenient ecosystem for those that either live or work in the rapidly growing area.

In addition to those two anchors, Brokaw Plaza will have another 90,000 SQFT of retail when it is fully built out. There is no official ETA yet on when the first anchor will open.

Source: The Merc

Eastridge Mall Gets Sold, Redevelopment Planned

Majority ownership of Eastridge Mall is moving from General Growth Properties to Pacific Retail Partners and Silverpeak Real Estate Partners. While those names likely don't mean much to you, the new owners are planning to revitalize the 1.4 million SQFT mall. They will be investing $15 million off the bat and have already announced that H&M is going to be one of the new tenants. The popular clothing store is going to take a 23,000 SQFT space in Eastridge, roughly the same size as the Santana Row location. You can also expect new paint, landscaping, signage and a revamped play area and food court.

In the SVBJ article, there is mention of bringing in an Asian grocer. I can see something like a 99 Ranch Market doing very well here.

The last Eastridge renovation was in 2007 and included a $140 million expansion. Currently the mall is 97.3% leased, which is a very strong number given that retail is slowly trending away from malls. The purchase also includes tons of developable land circling the mall. I'm sure that building on that extra property will only become more lucrative after the Bus Rapid Transit system running from Downtown San Jose to Eastridge is completed at the end of this year.

Source: SVBJ

New Mixed-Use Residential Project Slated for East San Jose

We are going to kick off the first workweek of 2016 with two big stories for East San Jose. Today, we'll talk about the first major development proposal in decades for East San Jose. Tomorrow, we'll have an in depth restaurant review for what might just be the best new restaurant in all of San Jose--and it happens to be in East San Jose.

The Empire Lumber site at 1260 E. Santa Clara Street is clearly a prime spot for redevelopment given that it is across the street from a future BART station. Despite the fact that we won't see any trains stopping at that station until the year 2025 or so, developers have already started taking serious interest in the neighborhood.

Steinberg has proposed a seven-story mixed-use building with 418 apartments and 30,000 SQFT of commercial space on the ground floor. As you can see from the drawings below, this is not your typical building in East San Jose. You have large sidewalks with outdoor dining along Santa Clara Street facing Five Wounds Portuguese National Church--one of our most iconic buildings. There are plenty of large balconies for residents, including some nice ones on the penthouse floors. There is a swimming pool and green space on the podium level above the retail and parking, and Steinberg even designed it to have a view. A publicly accessible urban plaza would sit between two large retail pads: 18,000 SQFT on East Santa Clara Street and 12,000 SQFT at the corner of Santa Clara and 28th Street.

The Empire Lumber lot currently houses a used-car dealership, definitely not the best use for this land. There is some push-back from the community on the proposed height of 85 feet. The current site plan has a cap of 55 feet on part of the proposal, so Steinberg would require a variance to get approval. Given this location near a future BART station and a Bus Rapid Transit (BRT) station that will hopefully go live by the end of this year, we should be going as dense and tall as possible. This would be a terrific addition to the neighborhood!

Source: SVBJ

Warby Parker Opens in Santana Row Today

Warby Parker, a trendy eyewear store, is opening their 20th location in Santana Row. This will be their first location in Silicon Valley and the second location in Northern California (the only other being in San Francisco). They carry both prescription lenses and sunglasses and are known for reasonable pricing and their philanthropy efforts. For every pair sold, they donate a pair to someone in need around the world.

The Santana Row store opens today and the hours are 10am-9pm Monday through Saturday and 11am-6pm on Sundays. More details below.

Six-Story Apartment and Retail Building Rising on The Alameda

Yet another residential project is coming to The Alameda, a district that is really blooming over the last few years. I think the Whole Foods which opened a year ago was just the inflection point the area needed.

This latest project will rise six stories and has a charming aesthetic that will go with the neighborhood. Included in the building are 168 apartments (some of which are "affordable housing") and a respectable 22,000 SQFT of commercial and office space. There could be up to four retail pads fronting The Alameda. Oh, and that Whole Foods I mentioned is right next door.

There will be a total of  273 parking spaces underground split between residents and guest parking for the commercial units. The developer will also pay $2 million to help fund a future expansion of Del Monte Park.

Ground-breaking has already taken place and the construction is expected to be completed in early 2018.

Source: The Merc, On The Alameda

Iconic 25-Story Tower Proposed for Santana Row!!!

Nathan Donato-Weinstein from the SVBJ has an epic scoop that made my week. A 25-story high rise called Volar has been proposed for 350 S. Winchester Avenue. This was the only parcel in the area that Federal Realty was not able to acquire for Santana Row. Currently, the site has a two story commercial building with Eli Thomas Menswear as a tenant. That parcel could become one of the most iconic buildings in San Jose, and a testament that high-rise residential could work outside of Downtown San Jose.

If built, Volar would very likely be the tallest building in San Jose and possibly even the tallest between San Francisco and Los Angeles. If those are tall ceilings--which I'm assuming will be the case given its location--it could break 300 feet in height. The project has two floors of commercial/retail space totaling 50,000 SQFT followed by 23 floors containing 330 residential units. Massive balconies drape a huge portion of the building. There is a two-story atrium at the very top of that would house a rooftop restaurant! It even looks like the whole roof could be accessible based on the renderings below. 

Volar also has one little surprise feature that would be a first in Silicon Valley, an automated garage. It works similar to an ATM. You park in a bay, get out, and the car gets loaded into the garage. When you need your car you go back to the bay, enter a code, and it gets delivered in 60 seconds. This allows more cars to be stored in a small space.

While this all seems too good to be true, it looks like this project has legs. Financing is lined up and they are ready to build as soon as the project gets city approval. The plans were just submitted last week--hopefully the city will fast-track this one!!

Source: SVBJ

Bass Pro Shops Opens San Jose Store

There are very few retailers out there with fans that are willing to drive 50+ miles and plan their whole day around a store visit. Bass Pro Shops is on that short list. They officially opened their San Jose store on Almaden Expressway a couple weeks ago, which is the only one in the Bay Area and the fourth in all of California. About 10,000 people came for the grand opening.

The San Jose store is larger than an average Costco at 145,000 SQFT. It features a huge array of camping, hunting, fishing, boating, and general outdoor gear. If that wasn't enough, it has its own 12-lane underwater-themed bowling alley, a seafood restaurant, a full bar, an indoor archery range, and a 15,000 gallon aquarium worthy of a zoo. The store employs over 200 people.

Bass Pro Shops is located at 5160 Cherry Avenue and is open Monday through Saturday from 9am to 9pm and Sunday from 10am to 8pm.

Source: SVBJ

The Station on North First - 1.6 Million SQFT Office Project

According to Robertee from The San Jose Development Forum, Boston Properties has ramped up marketing for their largest proposed project in San Jose--"The Station on North First." The office project would include up to 1.6 million SQFT of high-end office space, 10,000 SQFT of retail, and large open spaces filled with amenities. Check out the latest renderings and highlights below.

The Station on North First Highlights

• 24.3 acre campus
• 10,000 SF of retail space
• Convenient below ground parking
• Active, transit-oriented boulevard
• 5 - 10 story buildings arranged around two programmed quads
• The Quads & Grand Boulevard link the buildings and create a cohesive urban experience
• Each campus building features a double-height Great Room
• The Great Rooms serve as main entry points and lobbies, while offering communal space that can house a variety of events
• Indoor and outdoor fitness opportunities and amenity space
• Both social and sports outdoor areas
• Visual connectivity between buildings
• Connected floor plates up to 154K SF
• Typical floor plate: 35 - 45K SF
• Retail and urban plazas on North First Street
• Social gathering and recreation quads
• Collaborative Great Rooms and amenities
• Abundant natural light

New Tech Campus Coming to Downtown San Jose!!!

Downtown San Jose is growing by leaps and bounds when it comes to residential development and retail, but has not been getting a lot of love from commercial developers. That is going to change with a very exciting project on Santa Clara street near Diridon station and the SAP Center.

Trammel Crow is a developer that acquired an 8.5 acre plot of land from Adobe for $58.5 million. Adobe was planning to build an expansion of their headquarters in this area, but instead reconfigured their existing three towers to support a larger number of employees (no more private offices for every employee). I think it was actually for the better. While I'm a huge fan of Adobe and believe they play a vital role Downtown, if they were to build out their expansion it would likely not have been very inclusive to the whole community. Trammel Crow on the other hand is planning the exact opposite.

I'm going to start with the quote from the developer that Nathan ended his SVBJ article with:

"We’ve committed ourselves to making it iconic," he said. "We think it will be a landmark in the South Bay."

Iconic sounds right. Trammel Crow want to build 800,000 SQFT of office space across two buildings 10-12 stories tall. This would be a 10% expansion of all the office space currently in Downtown San Jose today and the first major office project to break ground since 2010. 400,000 SQFT of the project would be built speculatively without requiring a signed tenant. This would also be Class A++ premium office space with huge 40,000 SQFT floor plates and soaring ceilings popular with tech companies.

There would be 325 apartment units in a separate nine-story building. The whole site would be sprinkled with shops and restaurants and even feature a large public plaza along West Santa Clara Street. The beautiful and historic San Jose Water Company building would be renovated and repurposed. 2,400 parking spaces would be built to support the whole project, mostly underground... but hopefully most people won't be driving here.

A big attraction to this spot for the developer is the access to transit at Diridon Station. They are even tentatively calling the project #Diridon. With Caltrain, Light Rail, Capital Corridor, ACE, and a VTA bus hub, this is already one of the most important transit hubs in California. In the future Diridon will also be getting multiple Bus Rapid Transit lines, BART, and California High-Speed Rail. Even the $2 billion Transbay Terminal will not be as well connected as Diridon.

Trammel is expecting to get their building permits in Q1 2016, start construction in the summer, and have the first office building ready for occupancy by the end of 2017. The apartments are slated for 2018. They are also promising a signature look that will make the project a South Bay landmark. I cant's wait to see the first drawings for this!

Source: SVBJ, Hat tip to Josh Russell for sending this in!

Centerra Has Two Pending Leases!

That giant high-rise across the street from the San Pedro Square Market already has leases pending for two of its five retail pads on the ground floor. L'epi D'or is a popular Asian Bakery in Cupertino. A bakery has been at the top of people's wishlists for the San Pedro Square Market, so I think this will be a great addition to the area.

Popbar would take the prime corner spot at St. John and Almaden Avenue. It is a dessert shop featuring handcrafted gelato on a stick. It is a small chain with several international destinations but only two locations in the US (New York and Anaheim). The pistachio gelato wrapped in crushed pistachios and dipped in dark chocolate looks amazing. If this opens up, I will definitely be swinging by every time I go to the San Pedro Square Market.

The fact that this retail is already filling up is exciting news and a great sign for the San Pedro area in Downtown San Jose!

Source: Robertee from the San Jose Development Forum