City Council Rezones IBM Almaden Site to Balance Open Space and Future Use

San Jose City Council voted 9-2 on Tuesday to rezone the former IBM Almaden Research Center property at 650 Harry Road. The decision splits the site into two distinct categories: 35.1 acres containing the research buildings become an industrial park zoning district, while the remaining 565.1 acres of surrounding vacant land receive open space zoning.

IBM is closing the Almaden campus and consolidating operations at its Silicon Valley Lab on Bailey Road. The property is now on the market. City planning staff reported that several real estate groups have already inquired about possible future uses for the developed portion, ranging from research and development to advanced manufacturing or general office space.

The rezoning does not approve any specific project. Land-use consultant Erik Schoennauer, representing a potential buyer, told the council the change simply aligns the site with the city’s general plan. It keeps the large open-space area in its current natural state while allowing the existing industrial buildings to return to productive use more efficiently.

More than 30 residents spoke during the public hearing, many urging the council to slow the process and raise concerns about possible data centers or other intensive industrial activity. Councilmember George Casey, whose district includes the property, argued that delaying the vote would not change the underlying need to update the zoning. Mayor Matt Mahan emphasized the shared goal of protecting the open space that IBM had long maintained.

The dual zoning aims to keep the hillsides and undeveloped land intact while giving the built campus a clearer path toward new economic activity once a buyer steps forward.

Source: SiliconValley.com

CityView Retail Moves Forward While Housing Plans Shift to New Construction in Downtown San Jose

Construction has started on the retail phase of Jay Paul Company’s CityView project at the corner of Park Avenue and Almaden Boulevard in Downtown San Jose. The first phase will deliver roughly 35,000 to 40,000 square feet of ground-floor retail space beneath a new parking garage, with completion targeted for early 2028.

The retail mix is still taking shape. Planners are exploring shops, restaurants, health and wellness businesses, and child-care options, with ongoing conversations about whether a smaller-format grocery could fit. Jay Paul has also talked with San Jose State University about letting students use dining credits at future CityView eateries, aiming to serve office workers, nearby residents, convention visitors, and campus traffic.

On the residential side, the company has decided to pursue ground-up construction rather than converting existing office buildings. Seismic retrofit costs for conversion proved nearly as expensive as new builds, so the team is now designing purpose-built housing with architect Solomon Cordwell Buenz. The change allows better layouts tailored specifically for apartments.

These steps keep momentum going on a large mixed-use block that sits near 200 Park and the convention center. As the retail spaces fill and residential designs firm up, the project will add more daily activity to the streets of Downtown San Jose... we'll just need a little bit of patience.

Source: SVBJ

Icon Echo Advances with 645 Homes Near City Hall in Downtown San Jose

Urban Catalyst’s Icon Echo project is moving forward with plans for two eight-story residential buildings that will deliver 645 new apartments in Downtown San Jose. The development covers a 2.1-acre site along North Fourth Street between East Santa Clara Street and East Saint John Street, across from San Jose City Hall and a short walk from Saint James Park.

The unit mix includes 233 studios, 272 one-bedrooms, and 140 two-bedrooms, with 33 of the homes deed-restricted as affordable. Each building rises to 89 feet and features podium-top courtyards, ground-level parking with stackers totaling 527 spaces, and a small retail space on the Icon building. Architect BDE Architecture has designed the exteriors with brick veneer, stucco, and cast stone panels.

A Planning Director’s hearing on the site development permit and vesting tentative map took place on August 12, with city staff recommending approval. The project represents a shift from earlier mixed-use concepts that included office space, reflecting the current emphasis on adding housing in the urban core.

Once built, the complex will place hundreds of new residents within easy reach of transit, civic buildings, and the daily activity of Downtown San Jose. The mid-rise scale fits the surrounding blocks while contributing meaningful density to an area that continues to evolve.

Source: SF YIMBY

Affordable Townhomes Arrive in East San Jose to Expand Homeownership Options

A new collection of 18 townhomes is taking shape at 125 Kirk Avenue in East San Jose, directly across from Linda Vista Elementary School. Developer AlphaX RE Capital, led by Stephanie Yi, is delivering the project known as The Kirk with a focus on creating ownership opportunities for working families.

Two three-bedroom units will be offered at roughly $300,000 below market rates, while the remaining homes—mostly four-bedroom, two-and-a-half-bath floor plans ranging from 1,481 to 1,909 square feet—are priced between $1.18 million and $1.3 million. Select buyers can also access a $50,000 credit and interest rates starting as low as 3.99 percent.

The project opened to the public on August 14, with some units expected to become available as early as October and full construction completion targeted for February 2027. Local leaders have welcomed the development as a practical step toward keeping more families rooted in the neighborhood and building long-term equity.

East San Jose has long needed additional pathways to ownership that match the incomes of teachers, nurses, small-business owners, and other working residents. This modest-scale effort shows how targeted new construction can open doors without waiting for larger citywide solutions.

For details on availability and qualification, contact the developer directly through their sales channels.

Source: San Jose Spotlight

New Townhomes Proposed for McKendrie Street Near The Alameda

A 12-unit townhouse project is advancing at 1030-1038 McKendrie Street in Central San Jose. The plan would replace an existing surface parking lot on a 0.45-acre site with two multi-family residential buildings that include private garages and limited guest parking.

Studio Current is handling the design and application. The site sits on a block bounded by McKendrie Street, Myrtle Street, The Alameda, and West Hedding Street, placing it within walking distance of the College Park Caltrain station and inside the broader Alameda historic district.

Environmental review has been completed, with a mitigated negative declaration issued to address potential construction impacts. Work could begin as early as next March and is expected to take roughly five months once underway.

The modest-scale project adds housing in a central neighborhood already served by transit and nearby commercial activity. It represents another example of converting underused surface lots into residential use closer to existing infrastructure.

Source: SF YIMBY

Bank Takes Ownership of Vacant Housing Site in Downtown San Jose

The empty lot at 51 and 65 Notre Dame Avenue next to Carlysle Street in Downtown San Jose passed to West Coast Community Bank earlier this year after the lender completed foreclosure on a $10 million loan. An affiliate of Palo Alto-based Acquity Realty had paid $20 million for the four parcels in 2021, cleared the former Andy’s Pet Shop building, and never broke ground on any of its successive plans.

Early visions called for a 21-story mixed-use tower that would have combined housing, office space, and ground-floor retail. Later marketing materials scaled the idea back to a 148-unit mid-rise with roughly 4,700 square feet of street-level shops. Neither version advanced beyond drawings, and repeated loan defaults eventually transferred the property to the bank for $2.3 million in January.

The site sits in a compact, walkable pocket of Downtown San Jose close to transit corridors and the broader Diridon area. Bank ownership opens the door for a new buyer to step in and deliver the housing that has long been discussed for the corner. Local residents who have watched the parcel remain idle through several ownership chapters now have reason to expect fresh movement.

A successful redevelopment here would add homes and street-level activity to a part of Downtown that continues to evolve. The location’s proximity to existing amenities and future growth projects gives any incoming owner a strong foundation to build upon.

Source: SiliconValley.com

San Jose Posts Nation’s Weakest Home Price Growth Amid Tech Layoffs

Local buyers gained a measure of breathing room in June as the San Jose metro area recorded the weakest year-over-year home-price change among the nation’s 40 largest housing markets. The median sale price fell 4.6 percent to $1.619 million, a drop of roughly $78,500 from the same month a year earlier, according to Homes.com data. Nationally the median rose $6,000 to $401,000.

San Francisco followed a different path. That city’s median climbed 7.2 percent to $1.7 million, lifted by concentrated AI hiring and startup activity that San Jose has not matched at the same scale. Analysts pointed to a sharp rise in second-quarter layoff announcements, including several thousand positions at Meta that touched Menlo Park, Sunnyvale and Fremont, plus additional cuts at Oracle, LinkedIn and Intuit. Recent monthly payroll reports also showed the broader Bay Area job market contracting after a period of modest growth.

Slower immigration has further cooled demand. Foreign-born residents make up about 41 percent of Silicon Valley’s population and have long filled high-skilled roles, founded companies and eventually purchased homes. With that pipeline thinning, one key source of both labor and housing pressure has eased. The resulting price softness stands out after years in which the region’s market appeared almost immune to gravity, raising questions about the longer-term strength of the local economic engine even as it offers short-term relief to would-be buyers.

San Jose remains one of the most expensive markets in the country, still more than triple the national median. Yet the recent dip, combined with rising inventory, gives shoppers slightly more choices and negotiating room than they enjoyed a year ago. Well-priced homes continue to move, but the balance has tilted just enough to matter for families and first-time buyers watching the listings.

For a city whose identity remains tightly linked to technology and global talent, the June numbers mark a noticeable shift. How the market absorbs further changes in employment and immigration will shape both housing costs and the broader vitality of Silicon Valley in the months ahead.

Source: SVBJ

New Research Puts San Jose at the Top of the Minimum-Wage Rent Gap

Fresh numbers from Best Interest and Clever Real Estate lay out a stark picture of housing costs for the lowest-paid full-time workers across America’s largest metros. In San Jose a typical one-bedroom fair-market rent sits at $2,982 a month. A full-time minimum-wage paycheck, calculated at the city’s $18.45 hourly rate, comes in at roughly $2,952. That leaves a $30 shortfall before any other bills arrive.

Under the long-standing 30 percent rule, the same worker could responsibly spend only $886 on housing. The difference between that figure and actual rent reaches $2,096 every month. Closing the gap would require either a far higher wage or the combined paychecks of four minimum-wage earners sharing a single one-bedroom unit. Put another way, one person would need to log about 135 hours a week just to cover the rent alone.

San Jose joins 13 other large metros where monthly rent exceeds an entire minimum-wage paycheck. The city’s high local wage still ranks among the strongest in the country, yet demand driven by tech jobs and limited housing supply keeps rents elevated. The data underscores why many households look for roommates, longer commutes, or dual incomes to stay in the region.

Anyone watching the local market will find these figures useful context for conversations about housing production, wage growth, and the daily arithmetic of living here. The full report in the source link examines all 50 largest metros and offers a clear ranking of where the pressure runs highest.

Source: Best Interest

San Jose Ranks as the Fastest-Selling Housing Market in the United States

Recent research has placed San Jose at the very top of national rankings for how quickly homes sell. With a median of just 12 days on the market, the city outpaced every other major metro area in the country during the most recent data period.

The national median stood at 66 days. San Jose’s figure reflects an extremely tight supply, with fewer than one home available per 1,000 residents. In this environment, 62 percent of homes sold above their asking price despite median list prices well above one million dollars. The median listing price is a whopping $1,500,000 in San Jose.

Physical limits on new construction and sustained demand tied to high-wage industries have kept inventory low across much of the Bay Area. San Francisco followed closely behind San Jose with a 14-day median, reinforcing the region’s position among the fastest-moving markets nationwide.

This pace creates clear advantages for sellers who prepare their properties well. It also signals strong underlying interest in San Jose as a place to live. Buyers, meanwhile, face a competitive landscape where quick decisions often determine success.

Data like this underscores the city’s continued appeal and economic resilience. A housing market that moves this efficiently points to lasting desirability and supports San Jose’s trajectory toward becoming an even stronger destination for residents and investment alike.

Source: Best Interest

Google Bolsters San Jose Presence Through Alviso Office Acquisition

Google has completed the purchase of a substantial office property in San Jose's Alviso neighborhood for $25.2 million. The two-story, 83,000-square-foot building at 4500 North 1st Street has joined the company's expanding collection of facilities in the area.

The acquisition has placed the new property directly beside the Meadow Point campus where Google already maintains nine buildings. Constructed in 2018, the facility came equipped with surface parking and will deliver immediate operational advantages through seamless integration with the surrounding infrastructure.

Thousands of Googlers will relocate to the Meadow Point campus this spring and bring more activity to northern San Jose. Google has restructured other real estate holdings at the same time by moving its cloud computing division to Sunnyvale and reducing subleased spaces. These steps have underscored a focused commitment to core locations here.

Anyone passionate about San Jose's future will see the benefits ripple outward as activity increases around Alviso. While it's not the 8 million SQFT Google campus we are all waiting for in Downtown San Jose, it's a step in the right direction.

Source: SVBJ

There are Still Some Affordable Homes in San Jose

The median price of Silicon Valley homes just hit the eye-watering $2 million mark, meaning half of all homes in the San Jose metro sold for $2 million or more in 2025. Fortunately, there are still some rare affordable options out there under $1 million in San Jose. Below is one option in particular that is personal to me since a family member is selling it.

The home is a two-unit duplex near Little Portugal that is listed at $979,888. The 1948-built property combines two separate 2-bedroom, 1-bathroom units in a 1,462 square foot building across a 5,250-square-foot lot. The rear unit has a private backyard and detached two-car garage.

You could live in one unit and rent out the other, making it even more affordable, or rent out both as an investment property. I've seen both options for this home in my lifetime.

It has easy access to Highways 101, 680, and 280 and is walking distance to the BRT station on Alum Rock & King. It's also an easy walk to Plata Arroyo Park with soccer fields, basketball courts, a skatepark, playgrounds, and an outdoor gym.

If you or anyone you know is interested, please contact the listing agent at kalina.vu.santos@gmail.com or (408) 888-1178.

Veev Homes Deliver Smart Sustainable Living in Prime San Jose Locations

Veev is one of the most unique and innovative homebuilders I have ever come across. For decades I have felt that homebuilding was ripe for disruption, and I'm honestly surprised it has taken this long to see someone try and shake up the market. I have recently enjoyed both an in-depth tour of a Veev home in my neighborhood as well as a visit to the factory where the homes are built (yes, I said factory).

This builder, which was purchased by Lennar in 2023, relies on advanced panelized construction that assembles homes with remarkable efficiency using durable frames and high-performance materials. The walls are the real product as they house plumbing and electrical wiring straight from the factory and then are assembled like Legos at the homesite. These elements reduce waste significantly during building and at high volumes have the potential to greatly reduce both costs and construction timelines.

Looking at the exterior and interior, a Veev home looks completely normal. You would never guess that this was mostly built inside of a 500,000 SQFT Tesla-like factory and assembled in about 60 days. Most new builds require anywhere from 1-2 years of permits and construction at the homesite.

Veev currently has two different models of homes and both are generously-sized around 3,000 SQFT. Their first mass-production solution is called the Model E. It's ultra-modern, especially the interior with LED edge-lighting everywhere and slick finishes which you can see above.

You can find a Veev Model E in San Jose at 5973 Tandera Avenue in the Blossom Hill area by Oakridge. The price is $847/SQFT, which is lower than most new construction homes in the area. Other locations include 2820 Cardinal Lane (Willow Glen), 2652 Orinda Drive (Evergreen), and 304 Curie Drive (Blossom Hill).

I personally love this interior style, but they have decided to go a bit more traditional with the sequel, called the Model X. The exact interiors for the Model X are still being worked on, but I had a chance to see the model in the factory and would honestly move into either the Model E or X tomorrow. The Model X also features a grand entrance with a soaring ceiling height and an attached ADU, perfect multi-generational living or generating rental income on the side.

In addition to Veev selling homes directly, if you already own the land you can also have them build on your site. Including the teardown of the existing home, it's possible to get a brand new ~3,000 SQFT home for under $1 million. The hard part is finding low-cost land in San Jose that is large enough to accommodate the footprint. Long term, Veev also plans to offer smaller homes which will help cut costs further and open up more possibilities for potential homesites. 

The way single-family homes are built today is crazy. It's essentially like building a custom home every single time. By moving most of the construction to a factory, economies of scale and improved efficiency will help open up more affordable and higher quality housing options. Veev is an early mover and obviously at the higher-end of the market, but I truly hope other homebuilders will adopt this model and disrupt housing at all price points. 

As Veev comes out with new products, I will definitely be featuring them here. For more details and to schedule a viewing to check out one of their homes for yourself, visit https://www.veevsanjose.com.

Reimagined Luxury Living at 188 West Saint James in Downtown San Jose

Downtown San Jose continues to evolve with exciting residential options, and the reimagined 188 West Saint James stands out as a prime example. These two towers, located next to San Pedro Square, house 640 condominiums designed for modern urban lifestyles. Residents can expect stunning panoramic views of the city skyline and nearby mountains, all within walking distance of the area's restaurants, markets, and cultural spots.

The residences themselves emphasize comfort and style with open-concept floor plans, high-end finishes, and floor-to-ceiling windows that flood spaces with natural light. Kitchens come equipped for serious cooking, while private balconies extend living areas outdoors. Choices include studios, one-bedroom, and two-bedroom units, along with a selection of two- and three-bedroom penthouses in each tower.

Amenities start with the third-floor Residents’ Club featuring workspaces, lounges, a catering kitchen, and an outdoor terrace. A 75-foot lap pool, hot tub, yoga area, and BBQ stations provide relaxation with city views. There is a fitness center and wellness studio, complemented by practical touches like a 24-hour doorman, reserved parking, and secure package lockers.

A significant $30 million investment from new owners Machine Investment Group and Centurion Real Estate Partners has transformed the property, including updated lobbies, enhanced pool decks, and fresh outdoor spaces. Architect Steinberg Hart led the redesign, and four model homes showcase the vision. Sales begin this February, with move-in-ready options available through Polaris Pacific.

This project offers fairly attainable pricing: studios from $425,000, one-bedrooms in the $500,000s, two-bedrooms in the $900,000s, and penthouses starting at $1.88 million. For additional information, visit https://188weststjames.com/

Source: TheRegistry

New Renderings Showcase Innovative Tower Design for Downtown San Jose

Fresh renderings have emerged for the Fountain Alley mixed-use project at 35 South Second Street in Downtown San Jose, revealing a pair of residential towers designed by the renowned Bjarke Ingels Group. The development sits along South Second Street between Santa Clara and San Fernando Streets, near the historic Bank of Italy tower. This project forms part of a broader master plan led by developers Westbank and Urban Community, aiming to enhance the urban fabric with modern housing and community spaces.

The two towers reach heights of 279 feet and 289 feet, featuring balconies lined with trees to integrate greenery into the skyline. Materials such as aluminum, terracotta-toned glass-fiber-reinforced concrete, and curtainwall glass create a distinctive facade that blends contemporary style with the surrounding environment. Bionic handles the landscape architecture, while Kier and Wright serve as civil engineers, and Glotman Simpson oversees structural engineering, ensuring a thoughtful approach to the site's integration.

Inside, the project includes 768 apartments with a mix of 177 studios, 413 one-bedroom units, 152 two-bedroom options, and 26 three-bedroom residences. About 38 units will offer affordable housing for very low-income households through state density bonus provisions. Ground-floor retail spans 10,700 square feet, complemented by a pedestrian plaza, 45,000 square feet of basement parking, and space for 417 bicycles in a four-level subterranean garage. The total built area covers 831,600 square feet, primarily dedicated to housing.

This addition promises to bring more residents and activity to Downtown San Jose, supporting the area's evolution into a lively hub for living and leisure. Six projects in total are underway from the same developers in Downtown San Jose, including one already in early construction stages.

For more details, visit https://sfyimby.com/2025/12/new-renderings-for-big-designed-tower-in-downtown-san-jose.html.

Goodwill's New Collaborative Space will Boost San Jose Nonprofits

Goodwill of Silicon Valley recently purchased a $17 million office building at 1600 Technology Drive in San Jose. This acquisition not only provides a new home for Goodwill, relocating from their previous location at 1080 North Seventh Street, but also opens up opportunities for other organizations to join in. The nearly 200,000-square-foot facility is designed to become a shared environment where nonprofits can operate together, fostering stronger community ties.

The first organization to move in is Abode Services, a Bay Area nonprofit dedicated to homeless services and affordable housing. They have secured a five-year lease for one entire floor at a below-market rate. Starting next week, Abode will consolidate operations from four different sites, including their administrative office in Fremont, into this San Jose location. This setup promises efficiency and closer collaboration with like-minded groups.

By turning the building into a hub for nonprofits and innovators, Goodwill aims to encourage the exchange of ideas, build partnerships, and create effective solutions for local challenges. San Jose benefits from this kind of initiative, as it strengthens the network of support services available to residents. More organizations are expected to join, expanding the impact on issues like housing and community development.

This development underscores San Jose's potential as a leader in social progress, where collaborative spaces help address pressing needs. As these nonprofits settle in, the city gains another asset in its efforts to support vulnerable populations and promote inclusive growth. Residents interested in getting involved can explore volunteer opportunities with these organizations to contribute directly.

Source: SVBJ

San Jose Unified's Housing Vision: 288 Apartments for Dedicated Educators

San Jose Unified School District advances plans for a 288-unit apartment complex at 760 Hillsdale Avenue, designed specifically for its employees. This initiative addresses the challenge of providing stable homes for teachers and staff amid rising living expenses. The development occupies a vacant parcel next to Highway 87, creating convenient access for those working in the area's education sector.

The project targets the missing middle group of workers who earn above limits for many subsidized options yet struggle with market rents. District leaders recognize that even top earners face barriers to comfortable living in the city. By converting unused land into residential space, the effort turns underutilized property into a community asset, aligning with San Jose's push to increase housing production.

Funding comes from a $1.15 billion bond approved by voters in November 2024, with $282.5 million allocated here. The site sits adjacent to the district's Silicon Valley Education Campus and near light rail lines, promoting easy commutes and sustainable growth. This setup ensures high-quality builds comparable to private developments, fostering retention of skilled professionals.

As San Jose works toward state-required annual housing targets of over 7,700 units, projects like this help close the gap. The apartments promise to draw and keep talented individuals committed to student success, enhancing San Jose's educational landscape and overall appeal.

For more details on the project, visit https://www.sjusd.org/

Source: The Mercury News

San Jose Pioneers Affordable Housing with First ADU Condo Sale

San Jose has marked a significant milestone by becoming the first city in California to approve the sale of an accessory dwelling unit as a condominium. This achievement opens new pathways for homeownership and addresses the pressing need for more housing options in the region. The inaugural unit at 410 Josefa Street, near Diridon Station, stands as a model for future developments, already occupied by tenants and ready for market.

Enabled by Assembly Bill 1033, which took effect in 2024, this initiative allows ADUs to be sold independently from the main residence. Cupertino-based AlphaX RE Capital led the project, with the city's Department of Public Works completing the necessary parcel map review in just 60 days. Such efficiency demonstrates San Jose's commitment to streamlining processes that support innovative housing solutions.

Since 2022, the city has approved 1,500 ADUs, accounting for over 20 percent of its new housing production. These units provide an accessible entry into ownership, particularly for those seeking affordable alternatives in a competitive market. AlphaX RE Capital plans to develop more than 80 additional spaces, expanding opportunities across neighborhoods.

To assist residents and developers, San Jose offers resources like the ADU Condominium Checklist and the longstanding ADU Universal Checklist, which simplify permitting and conversion steps. The addition of two ADU Ally positions in the Building Division further eases navigation through the process, ensuring more people can participate in this growing trend.

This development highlights San Jose's proactive approach to housing challenges, fostering a community where innovation meets practicality. As the city continues to lead in such efforts, residents gain fresh ways to build equity and stability right in their backyards.

Source: SVBJ

Misora Apartments Signal Continued Growth at Santana Row

Santana Row stands as a premier destination in San Jose, blending shopping, dining, and living spaces into a vibrant community hub. Federal Realty now plans to market the Misora apartment complex at 388 Santana Row, a 212-unit building completed in 2014 that spans about 222,000 square feet. This move follows the recent sale of the neighboring Levare apartments for $74 million to Hines in May, reflecting strong interest in high-quality residential properties within this sought-after area.

CEO Don Wood described such sales as a core part of the company's strategy, allowing reinvestment into mixed-use environments without affecting the retail and entertainment core. Misora, positioned across from Levare, offers modern living options that complement the lively atmosphere of Santana Row, where residents enjoy walkable access to boutiques, restaurants, and events. If priced similarly per unit to Levare, the complex could fetch upwards of $145 million, underscoring the value of San Jose's real estate market.

This transition opens doors for fresh ownership to enhance the property, potentially introducing new amenities or community features that build on Santana Row's appeal. As San Jose's west side continues to thrive, developments like this reinforce the area's role as a magnet for professionals, families, and visitors seeking a blend of urban convenience and leisure.

Source: SVBJ

Santana Row’s Levare Apartments Sold to Global Firm Hines

Santana Row, one of San Jose’s most iconic mixed-use developments, has just witnessed a major transaction. The Levare apartment building, a 108-unit complex within Santana Row, was recently sold to an affiliate of Hines, a global real estate firm. 

The deal, valued at approximately $74 million, marks a strategic move by Federal Realty Trust, the developer and primary owner of Santana Row. By selling Levare, Federal Realty Trust aims to reallocate capital toward higher-return opportunities while continuing to enhance the vibrancy of Santana Row. 

Levare, developed in 2011, has been a standout property within Santana Row, boasting a 95% lease rate at the time of the sale. As one of three apartment buildings in the development—alongside Misora and Santana Heights—Levare has played a key role in shaping Santana Row into a thriving community. The sale to Hines, a firm with a global footprint, signals confidence in San Jose’s real estate market and its potential for long-term growth.

Source: SVBJ

New Affordable Living near Downtown San Jose

Local developers, The Core Cos. and Republic Urban Properties, have shifted their plans to prioritize affordable housing at 1197 Lick Avenue. The revised proposal now includes 135 units of affordable housing, a significant increase from the original plan. Located next to Tamien Station, the development offers unparalleled access to Caltrain, Amtrak, VTA, and other public transit options. This prime location means residents can easily commute to work, access essential services, and enjoy the nearby amenities that make San Jose a desirable place to live. The project’s focus on affordability, paired with its transit-oriented design, makes it a standout in the city’s efforts to create housing that works for all.

Designed by Studio T-Square, the development will feature three buildings, each five stories tall, with a mix of one-, two-, and three-bedroom units. The affordable units are specifically set aside for households earning between 30% and 60% of the area’s median income, addressing a critical gap in San Jose’s housing market. Additionally, the project includes a ground-floor child-care center, which will serve up to 60 students, further enhancing the community’s resources. The pivot to affordable housing was driven by funding opportunities and the desire to deliver a project that meets the city’s most pressing needs.

With median rents soaring to $2,500 and a homeownership rate of just 55%, the city has been grappling with affordability for years. The development at 1197 Lick Avenue is a crucial step toward easing this burden, offering relief to low-income families and individuals who have long been priced out of the market. It also aligns with San Jose’s broader goals for transit-oriented growth, ensuring that housing is not only affordable but also sustainable and connected.

Source: SF YIMBY