By Meghan Hall
After several months of negotiations, the Santa Clara County Housing Authority (SCCHA) has a new headquarters. In a transaction that closed on December 16th, the SCCHA purchased an office asset in North San Jose for $37.35 million, or about $434 per square foot. According to public documents, the seller was China-based Han’s Holdings.
Located at 3553 N. First Street, the building totals 86,100 square feet. An affiliate of Han’s Holdings—listed as Han’s San Jose Hospitality— first purchased the asset in March of 2017 for $36.15 million, or about $420 per square foot.
A memo released by the SCCHA stated that the move would not only provide the SCCHA with a strategic office location and proximity to public transportation, but an increase of space, partially prompted by the current pandemic.
“The need for social distancing and other restrictions associated with the pandemic has highlighted the fact that our existing facility is inadequate to meet our current and future needs,” explained the SCCHA in a recent memo.
The SSCHA plans to move into the building by the spring of 2022. Originally, the SCCHA had plans to move to a new mixed-use development project located at 675 East Santa Clara Street, also known as the former San Jose Hospital site. However, according to the project documents, the earliest possible construction start date for the development would be mid-2022, later than SCCHA’s plans to move into 3553 N. First Street. Original plans for the project—designed by David Baker Architects—included affordable housing, a ground floor customer service center, retail and open space.