Jemcor Development Partners and Pacific Housing have partnered together to pursue a 300-unit affordable housing development at 950 West Julian Street in San Jose. The project aims to develop an acre-wide site with new homes close to SAP Center and Diridon Station. Late last week, the team reached a milestone after paying around $11.7 million for the site.
News of the property sale was first reported by George Avalos for the Bay Area News Group. Avalos shared that the team has already secured $107 million in financing from the California Municipal Finance Authority.
Initial plans shared by the city detail that the eight-story structure will contain 300 homes, including three market-rate homes for on-site property managers. Of the 297 affordable units, most will be for low-income households, 15 for very-low-income households, and 15 for moderate-income households. The complex will include around 7,700 square feet of interior leasing and amenity space, parking for 85 vehicles, and storage for 75 bicycles.
KTGY Architects is responsible for the design. Illustrations from the Oakland-based firm show the gridded facade is separated into six volumes with subtle articulation along Julian Street. The first floor is wrapped with dark grey glass and stucco to establish a strong foundation.
950 West Julian Street with Downtown San Jose in the background, image via Google Satellite
The 1.1-acre site is located along West Julian Street between North Keeble Avenue and North Morrison Avenue. Residents will be close to Diridon West, a six-story apartment complex with 249 units developed by the Hanover Company, which opened in 2021. Earlier this year, the property was bought by Hines for $117.5 million.
The estimated timeline for development has yet to be established.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
It looks like a factory or a warehouse. In fact, it would be a human warehouse. What a failure of imagination to pry every nickel out of the available space.
An absolutely awful design. Architect phoned it in.