Showing posts with label san jose homes. Show all posts
Showing posts with label san jose homes. Show all posts

Friday, May 10, 2024

372 apartments move forward at a former San Jose DMV site

A former DMV in central San Jose near History Park and the intersection of Senter and Tully is going to be transformed into a 372-unit apartment complex called "The Place." The apartments would be split across three seven-story buildings with a more interesting design then you would expect from your typical midrise.

The apartments themselves would range from studios to two-bedroom units with two bathrooms. 112 of the apartments will be studios, 200 are one-bedroom, and 60 are two-bedroom units.

The one-story office building that housed the DMV would be demolished to make way from this project. The neighborhood is mostly office and industrial with a Costco across the street. The best escape-games in San Jose are a couple blocks away at OMESCAPE and you also have Happy Hollow Park and Zoo, History Park, the Japanese Friendship Gardens, Kelly Park, Sharks Ice, and the San Jose Giants less than a mile away. It's actually a pretty decent area to start building dense housing.

The next step is a series of city reviews this month.

Monday, March 18, 2024

San Jose will get $12.7 million to build 200 tiny homes

San Jose is acquiring state funding to purchase 200 tiny homes to house a portion of our homeless population. San Jose qualified for the funding due to its record of actually building interim housing instead of just talking about it. So far San Jose has built 499 small homes and plans for 784 more beds.

San Jose already has a site selected for the new homes in North San Jose near VTA operations. The project will be named the Cerone Interim Housing Community and it is expected to open next year.

Source: Patch

Wednesday, March 13, 2024

How much income you need to comfortably afford a San Jose home

Imagine you have just moved your family to San Jose and want to comfortably afford the average mortgage. We're not talking about a luxury home, but your average detached tract home in a San Jose suburb. How much income would you have to make?

Are you ready? $454,296. Almost half a million dollars.

San Francisco requires less, but a still astronomical $339,864 of annual income.

This number is expected to come down in the future with interest rates, which would also increase the supply of homes for sale. In the mean time, we should be doing everything possible to increase the amount of housing available.

Source: NBC Bay Area

Wednesday, November 29, 2023

Former Senter Road DMV could be replaced with 372 new homes

Earlier this year the DMV at Senter Road across from Costco permanently closed its doors (it was always designed to be a temporary office). Now developer HC Investment Associates wants to construct three new buildings on that site with a total of 372 residences.

Details are scarce since this is early on in the process. It's not clear if these will be condos or apartments or if there will be an affordable housing component.

HC already has another San Jose property in development at 70-80 N. 27 St. in Little Portugal. They are replacing a two-story commercial building (Portuguese events hall) with a five-story residential building containing 198 homes.

Source: SVBJ

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.

Tuesday, November 21, 2023

518 new apartments in San Jose's Japantown are already 95% leased

Shea Properties and Ivanhoe Cambridge launched Sixth and Jackson luxury apartments in Japantown earlier this year, named after the cross streets where you can find the 518-unit complex. Even though it just opened pretty recently, the property is already 95% leased. This goes to show how strong the San Jose housing market is right now, even with floorplans starting at $2,656/mo for a studio and scaling to $5,200/mo for a three bedroom unit.

The project is split between two seven-story buildings with tons of amenities like a yoga room, rooftop lounge, dog run, co-working spaces, meeting rooms, a spin room, outdoor entertainment areas, Shea Properties also built a new public park between the buildings called Heinlenville Park, named after the person that helped transform the neighborhood in the late 19th century. The park will eventually have a $30 million arts incubator and community center, but construction on that project hasn't started yet.

It's quite an upgrade for Japantown, one of my favorite neighborhoods in San Jose. It's great that they were able to integrate so many community elements into the project and there is still quite a bit of retail on the ground floor available for lease to further enhance the area in the future.

Source: SVBJ

Thursday, November 2, 2023

110 townhomes proposed in North San Jose at existing office site

As the office market struggles to recover, project after project has been pivoting to housing. The latest proposal is coming from SummerHill Homes and would involve replacing a two-story office building with 110 townhomes on a 5.1-acre site at 90 East Tasman Drive. 

This is a great location in the middle of the tech world's "Golden Triangle." It's in front of a VTA Light Rail stop and is a few stations away from either Levi's Stadium to the west or Milpitas BART and The Great Mall to the east.

While townhomes in many ways would certainly be an improvement over the current 1980s era office buildings at the current site, it's still a far cry from what Santa Clara is doing off of Tasman just over 1 mile away. That site is also 5-acres, but instead of townhomes it features a 23-story apartment building with 509 apartment and 191 senior housing units in a secondary tower. That is literally seven times the density of the San Jose proposal (see below).

The land here is extremely valuable. It would make sense to move a bit beyond townhomes at this point in North San Jose, especially with such great access to existing transit networks. 

Thursday, October 26, 2023

64 affordable homes coming to South San Jose

Earlier this week the San Jose City Council unanimously approved a 64-unit affordable housing project at 2388 S. Bascom Avenue near the border with Campbell. The project will replace a single-story 2,228 SQFT Kirk's Steakburgers with a 6-story building. 

63 of the 64 units would be reserved for affordable housing. The one market rate unit would be for the property's manager. 44 of the units will be two or three bedrooms while the rest will one bedroom apartments.

Source: SVBJ

Tuesday, August 22, 2023

New permit activity for Orchard Residential in Downtown San Jose

A 30-story apartment tower called Orchard Residential is slowly moving forward. Plans were approved last November, but some revisions were requested such as cutting car parking by half. They are hoping to receive their full building permit by fall to proceed with a pretty stunning 294-foot tall project.

The building will have 502,340 SQFT dedicated to residences, 13,860 SQFT of ground-floor retail, 104 parking spaces for cars, and 176 spaces for bicycles. The renders below are not just concepts--they are actually planning to plant 312 fruit trees and additional plants across the facade which is something more projects should consider doing.

Source: SF YIMBY, Dirk_Birkin from Skyscraper City

Sunday, August 13, 2023

New housing proposed for East Capitol Expressway

Yet another housing project is being proposed near a San Jose train stop. 203 residential units and a cafe are being planned for the intersection of East Capital Expressway and Highway 87. The multi-phase project would also have an open plaza, paseo, a library, public art, and community spaces.

It's an interesting transit-oriented location across from an existing Light Rail Station and the onramp for Highway 87. Based on the renders it looks like they are planning to incorporate a bus hub into the project as well and there seems to be a plenty of room for future expansion. 

I imagine much of the Capital Expressway Auto Mall across from the freeway will be redeveloped long term, so it will be interesting to see what this neighborhood will become.

Source: SVBJ

Wednesday, August 2, 2023

San Jose dethrones New York as most expensive rental market

Cheers to awards we don't want to win! In June the San Jose metro became the most expensive place to rent a home in the United States--beating out both New York and San Francisco. The median rent for a typical apartment, condo, or single family home in San Jose hit a staggering $3,411 per month. This just edged out the notoriously expensive New York Metro, which came in at $3,405.

Third place on the list was also a surprise. San Diego surpassed our neighbor up north with a median rent of $3,175/mo. San Francisco was fourth at $3,168 and Boston rounded out the top five at $3,045.

Source: TheRealDeal, Discophil from Skyscraper City

Tuesday, March 3, 2020

San Jose gets first round of tiny homes for the homeless

Homelessness is one of Silicon Valley's top issues, and it seems to be getting worse with over 6,000 individuals living on Santa Clara County streets. Fortunately, San Jose is taking a novel approach by building inexpensive tiny homes to house the less fortunate.

The first community of tiny homes is off of Mabury Road and consists of 40 "sleeping cabins," showers, a shared kitchen, laundry, and computers. Comcast is also donating WiFi service. The community is expected to serve 120 people a year (each resident can stay up to 4 months).

A second project is already underway near Felipe Court at the intersection of 101, 280, and 680. 

It's not a perfect solution but is helping move us in the right direction. I wish developers would also build inexpensive 150-200 SQFT studio apartments to provide additional housing options for everyone.

Wednesday, December 19, 2018

Tiny homes for the homeless

San Jose is exploring a novel way to house part of our homeless community, currently around 3,231 people. The city is working with Gensler to build 80 "tiny homes" that would cost as little as $6,500 each to build. The homes are 80 SQFT but have a bed, storage areas, and a sitting area. Each also come with heating and cooling and three windows.

The plan is to build two pilot communities that would each have 40 of these homes, along with communal areas for cooking. Bathrooms would be placed in a temporary structure.

It may not seem like much, but this would greatly help those that need it most get back on their feet--not to mention reduce the population of our "tent cities." The goal is for residents of these homes to move to permanent housing within 6 months.

This kind of out-of-the-box thinking is exactly what we need in order to make an impact. Just doing more of the same does not seem to be working. Fingers crossed that this will help ameliorate one of our key social issues.

Source: SVBJ

Wednesday, August 8, 2018

San Jose home prices rose three times faster than US average

If you feel like housing prices are getting out of control, that is because they are. The economy has been doing quite well and US home values have risen an average over 7.1% from May 2017 to May 2018. In the San Jose metro, home prices rose a staggering 20.4%. We topped the appreciation list for all large metros in the country. This is good news for current homeowners, but bad for anyone hoping to buy a home here in the near future. Higher prices also mean more turnover for residents, which negatively impacts community building.

The average mortgage is now 51.2% of our median family income--a shocking stat that shows how unsustainable these prices are without further increases in salaries, which are already the highest in the nation. On a positive note, rents have at least stabilized.

Source: SVBJ,

Tuesday, March 6, 2018

San Jose will pilot tiny homes for homeless

The city is looking at three different sites to build dozens of tiny homes that would provide temporary housing for the homeless. The homes would primarily be for the 3-5 year period between qualifying for housing assistance and when an actual housing unit is available.

Gensler designed the tiny homes, which are designed for 1-2 people and are essentially boxes with separate common areas for bathrooms and cooking.

Before you become concerned that these will pop up in your neighborhood, all three locations are not exactly desirable areas. One is proposed for the southwest quadrant of the 280/680/101 freeway interchange, another is on a VTA staging area on Mabury Road, and the last is at the intersection of Hellyer Avenue and Silicon Valley Boulevard.

I feel like this is a great initiative to house those that need it the most. However, I am also a bit concerned that the more resources we provide, the more homeless will migrate to the area (look at San Francisco as an example). We should really prioritize temporary housing for those that were born-and-raised in San Jose, if we don't do this already. There needs to be some balance between taking care of our own and not becoming a haven for homeless from other regions. Knowing that locals are living here and not transients would also go a long way towards getting public support of these projects, which are very necessary.

Source: SVBJ

Tuesday, January 2, 2018

Saturday Stats: 2017 Meta Post

It's that time of year again to look back and see the top "Saturday Stats" of 2017. The list is pretty impressive yet again. San Jose ranked as the top city for productivity, tech jobs, and economic momentum. Happiness and health are also up there. 

You can also see the full list of "Saturday Stats" (including previous years) with article links over here.

Friday, December 30, 2016

Saturday Stats: 2016 Meta Post!

It's that time of year again to look back and see the top "Saturday Stats" of 2016. The list is yet again quite impressive. San Jose ranked as the top city for salaries, jobs, life expectancy, and economy. Even Trick-or-Treating got a shout-out this year. Below are my favorite rankings for the year.

You can also see the full list of "Saturday Stats" (including previous years) with article links over here.


#1Longest Life Expectancy in the USSVBJ2016
#10Best Place to LiveUS News & World Report2016SF #9
#1Fastest Growing Private EconomiesHeadlight Data2016SF and NY not in top 10
#2Best City for Young ProfessionalsForbes2016SF #1
#10Best Place to LiveU.S. News2016SF #9
#3Best Places for STEM GradsNerdwallet2016SF #6
#1City for JobsGlassdoor2016SF #2
#2Best City for JobsForbes2016SF #1
#1Top City for Small BusinessCNBC2016NY #2, SF #3
#3Best Metro for Entrepreneurship GrowthKauffman2016SF #6
#2Healthiest City in America24/7 Wall St.2016SF #14
#3Most Educated City in the USWalletHub2016SF #7
#1Fastest Growing Economy in the USCNBC2016SF #5, NY #23
#1Best City to Trick-or-Treat InZillow2016SF #3
#1Best City for Web DevelopersZippia2016SF #5
#1Best Performing City in the USMilken Institute2016SF #3

Saturday, September 24, 2016

Saturday Stats: Median size of San Jose homes increased 51% over the last 100 years

San Jose home prices have become some of the highest in the world so you would think that the median size of homes would shrink to balance things out. However, this is not the case at all. Over the last 100 years, the median SQFT for a new home in San Jose has gone from 1,232 SQFT to 1,862 SQFT. To see how this compares with other cities, check out the source line below.

Source: PropertyShark

Tuesday, May 31, 2016

New residential tower may replace Ross Downtown

Another day, another tower. Nathan Donato-Weinstein broke the news of yet another high-rise proposal in Downtown San Jose. First, the bad news. Ross--currently Downtown's largest clothing store--is shutting down at the end of the summer. This will leave a 30,000 SQFT retail gap in a key location. Instead of replacing it with another store, the property owners are instead seeking to build a 24-story apartment tower.

The modern glass tower would have 324 units and 5,000 SQFT of retail on the ground floor. It looks like amenities will be on the sixth floor and include a small swimming pool. I'm sure a gym would be there as well. Parking will be available on eight floors, four under ground and four above ground.

The design and scale will be highly contested I'm sure since it is in the middle of the historic district. However, adding around 700 new residents to this area will no doubt be a huge benefit to the businesses in the immediate area and breathe new life into the district. Light-rail is also quite literally in front of the building, encouraging the use of transit instead of driving.

Personally, I really like the mixing of old and new architectural styles--the San Jose Museum of Art is a great example which incorporated a historic post office. Also, I hate to say this but I also don't think there is enough character in the historic district today to justify blocking development that will add value to the whole Downtown area. There is huge value in maintaining the character and aesthetics of certain areas (especially when walking down the street transports you to a different era), but I don't think the historic district merits that today. We certainly shouldn't be tearing down any more historic buildings and repeat mistakes that were made decades ago, but it's time to move forward and evolve the Downtown area with greater density, amenities, and housing options.

If the tower below moves forward, construction could begin by January 2017.

Source: SVBJ

Saturday, January 2, 2016

Saturday Stats: 2015 Meta Post!

It's that time of year again to look back and see the top "Saturday Stats" of 2015. The list is yet again quite impressive. San Jose ranked as the top city for salaries (both before and after cost of living adjustments), tech jobs, job opportunities, job market, advanced industry sector employment, tech hub innovation, college students, and have the most future-ready economy in the US. Those were just the #1 rankings. There are many more below.

You can also see the full list of "Saturday Stats" (including previous years) with article links over here.

#1-10Top 10 Happiest Cities in the WorldNational Geographic2015SF and NY did not rank
#13Best City to Find a JobWalletHub2015SF #20, NY #90
#7Healthiest Place in AmericaNerdWallet2015SF #2, NY #15
#3Highest GDP Per Capita in the WorldSiliconBeat2015SF #12
#1Advanced Industry Sector EmploymentSiliconBeat2015SF #5
#1Most Innovative Tech Hub in the USNerdWallet2015SF #3
#6Most Racially and Linguistically Diverse City in the USWalletHub2015NY #4, SF #13, Oakland #14
#1Best Place for Tech JobsNerdwallet2015SF #6, NY #67
#1Top Metro for Job OpportunitiesGlassdoor2015
#1Hottest Job MarketSiliconBeat2015SF #2
#3Best City to Raise a Family InHealthline2015SF #9
#7Economic Growth between 2008 and 2014WalletHub2015SF #15, Oakland #13
#2Best City to Trick-or-treat InZillow2015SF #1
#1Highest Salary after Cost of Living AdjustmentsSVBJ2015SF #9
#1Future-ready City Economy AmericaDell2015SF #2, NY #3
#1"Richest City" in America (Greatest Gross Metropolitan Product [GMP])Bloomberg2015SF #3, NY #8
#1Best Mid-sized Region for College StudentsAmerican Institute for Economic Research2015
#7Best Place to Own a HomePorch2015SF #47, NY #26