SAN JOSE — Design is underway on a 23-tale housing tower that would convey much more than 300 residential units to downtown San Jose.
Backyard Gate Tower is staying constructed at 600 S. First St. in downtown’s hip and trendy Sofa district, in close proximity to Interstate 280.
Boston-based mostly Scape North America, a developer that is a device of London-based mostly authentic estate agency Scape, is creating 336 models in the tower, like 28 economical residential models.
This week, design machines and personnel have been visible on the enhancement web-site at the corner of South To start with Avenue and East Reed Road.
Staff and their equipment appeared to be engaged mainly in excavation operate on the site this 7 days. Scape has not disclosed a timeline for the completion of the project.
“The Scape project breaking ground reveals that residential growth is possible” in this space, explained Bob Staedler, principal govt with Silicon Valley Synergy, a land-use consultancy. “The fact that they incorporated cost-effective models would make it even a increased achievement.”
The new tower is poised to aid create additional vitality in this portion of downtown San Jose. The Couch district is composed largely of dining establishments, nightclubs, cocktail lounges, entertainment hubs and live-efficiency theaters.
“The Couch district is proving alone to be a downtown place in a position to get hold of funding,” Staedler reported.
In the tumble of 2021, Scape North America landed up to $182 million in development funding from New York Metropolis-dependent Madison Realty Funds, a personal equity fund, according to documents submitted with the Santa Clara County Recorder’s Office environment.
Originally, Scape experienced prepared to develop 290 models in the tower. But all through the preparing method, the developer determined to build 336 residences.
“The improvement of the task would add a present day, large-high quality city design and style to the downtown,” according to a San Jose Setting up Office personnel report.
The tower’s ground floor is slated to incorporate 5,900 square feet of retail or cafe house. An underground parking garage will also be element of the task.
In March 2020, Scape acquired the growth web-site for the tower, having to pay $16.5 million for the residence, county documents exhibit. KT City, a distinguished area developer, sold the site.
The underneath-construction tower also could provide as a landmark for downtown San Jose.
“The job will act as a gateway tower to the Couch arts and amusement district in downtown San Jose,” C2K Architecture, which built the new tower, stated in a article on its web site.