Call us Today!

San Jose housing tower with 300-plus apartments nears final city OK


Street-level view of a 345-unit housing tower at 323 Terraine Street in downtown San Jose, concept.

SAN JOSE — A downtown San Jose housing tower with hundreds of units is poised to receive final city approval, a project that might ultimately add an office building if the now-moribund Bay Area office market revives.

The residential high-rise could sprout near the corner of Terraine and Bassett streets alongside State Route 87, documents on file with city officials show.

The 17-story tower could add 345 apartments at 323 Terraine Street, according to the proposal from a development alliance of three real estate firms, Canada-based Westbank, Urban Community, led by Gary Dillabough and Jeff Arrillaga; and Terrascape, headed up by Tony Arreola and Mark Lazzarini.

The project would be built on a 1.6-acre site in a downtown San Jose neighborhood known as North San Pedro.

“We are proud to be bringing forward a project with our partners, Westbank and Urban Community, that will not only provide desperately needed housing but will also bring customers to San Jose’s small businesses and boost the downtown economy,” Arreola said.

At one point, embattled China-based developer Z&L Properties had been eyeing a housing project on the site. But as is the case with nearly every endeavor the company proposed in San Jose, that project never broke ground.

In 2021, the Westbank, Urban Community and Terrascape group paid Z&L $11.4 million to buy the prime site.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *