Urban Villas Increases Proposed San Jose Residential Development by 100 Units

Bay Area, San Jose, Urban Villas, Studio Current

By Jon Peterson

Residential development still has legs in the Bay Area. Urban Villas LLC of Cupertino is one developer that wants to expand a project it has already proposed. The company has submitted new plans for residential development in San Jose and has increased the number of units in the project from 173 to 273 units, according to plans submitted to the city of San Jose. The new project is located at 1530 to 1544 West San Carlos Street in San Jose and it will be changing from its original plan to develop condos to apartments.

The developer of the project is affiliated with Century 21 Real Estate Alliance Agent Viji Mani. The overall project architect on the planned new development is Studio Current, which is based in San Jose. There has been no timetable established for the start of the project or when the company may break ground. However, there is a possibility that the new development will be constructed in two phases and take roughly four years to complete.

The new project is targeting to create housing for families and workforce residents. There will be several sizes of units, and they include 69 studios, 83 one-bedroom and 34 two-bedroom apartments. The units would range in size from 450 to 980 square feet.

In the first iteration of the plans, the developer was not proposing any affordable units. The developer made the decision it would rather pay an in-lieu fee that would fund affordable housing in another project somewhere in the city of San Jose. It is not clear if the new proposal by the developer has changed that part of the proposal.

The project will look to deliver a property that is mid-rise and constructed over eight stories. The total land for the project is around 1.3 acres. There is a commercial component of the building that would deliver 17,000 square feet of ground-floor retail, reserved primarily for shops and restaurants. The parking in the new asset is for 198 vehicles. No bicycle parking has been mentioned in the new plans.

There is a mixed-use structure on the site presently that would need to be demolished. The location was previously the home of an auto dealership. Other uses on the site included a rental car company, a martial arts studio and at one point there were 8 single-family homes occupied by Section 8 tenants.

West Coast Commercial Real Estate News