Branagh Construction has topped out for Arya, an eight-story residential infill at 500 Almaden Boulevard in Downtown San Jose. The project is being developed by Satellite Affordable Housing Associates, a non-profit organization based in Berkeley with projects across the Bay Area. The building is expected to add 87 homes for families and artists.
The eight-story building will yield around 91,920 square feet with 58,000 square feet of living area, 7,600 square feet of amenities and storage, 462 square feet for the bicycle parking room, and 8,600 square feet for the vehicular garage. Additional space will be included for hallways, utilities, and other miscellaneous functions.
The project will cover a 0.38-acre lot at the corner of Almaden Boulevard and Balbach Street. The area is serviced by a few bus lines, a light rail station along with San Carlos, and ten minutes from the Caltrain-serviced Diridon Station via bicycle.
Leddy Maytum Stacy Architects is responsible for the design. Illustrations show a typical contemporary residential design, with an articulated facade clad with painted stucco and curtain-wall glass wrapping around the ground floor.
The property was sold by Lane Partners to SAHA in the summer of 2021 for $1.3 million. Construction is estimated to cost around $55 million with financing from the City of San Jose, HCD Accordable Housing & Sustainable Communities, and 4% tax credits. Residents are expected to be able to move in by the end of the year.