San Jose has grown up.
San Jose is the tenth largest city in the US by population and the current technology boom has attracted developers and investors creating an unprecedented amount of development activity. There is over 3 million square feet of commercial office space in the pipeline for San Jose, either planned, approved, or under construction, with nearly 10,000 residential units also underway. Density is the name of the new San Jose game, with two-thirds of proposed developments checking in at over 100 dwelling units per acre, with a large percentage exceeding 300 dwelling units per acre.
Developing Downtown.
Most of the development is clustered in Downtown San Jose. As a good example of transit-oriented development, Trammel Crow is developing space adjacent to the Diridon Caltrain station. It’s a proposed 960,000 square feet of office space, 35,000 square feet of retail and 325 apartment units in a cluster of 10-to-12 story towers. The largest project currently under construction is Silvery Towers by KT Urban and R&F Properties. It will bring 643 condos and 20,000 square feet of retail to 22- and 20-story towers.
But wait, there’s more.
There are other key projects that will add to San Jose’s number of residences. North San Pedro Tower III by Barry Swenson Builder will provide another 313 condos to 201 W. Julian St as part of a larger master plan that will also include First Community Housing’s 135-unit affordable housing project. Intracorp Cos. 408-unit apartment building at 195 W. Julian St. and 78 townhouse units nearby; and Museum Place by Insight Realty Co. which has proposed over 200,000 square feet of office space, 334 condo units, a 143-room hotel, over 12,000 square feet of retail, and a 60,000 square foot expansion of an existing technology museum on the ground floor.
A real renaissance.
Downtown San Jose is growing at an incredible rate with the tech boom bringing investors and more office space development. That development is also creating a residential renaissance that befits a city of such size. In other words, San Jose is growing up.
