Construction is expected to start early next year for the affordable housing project at 470 South Market Street in Downtown San Jose, Santa Clara County. The Gateway Tower team has secured millions of dollars in city and county funding to pursue the 15-story project, with the majority of financing provided by JPMorgan Chase Bank. The Core Companies is sponsoring the project.
The 15-story building is expected to retain a portion of two industrial brick-facade buildings, including one city landmark. Apartment prices will vary as affordable to households earning between 30 and 80% of the area’s median income.
Gateway Tower ground-level activity, rendering by DLR Group
Gateway Tower, rendering by DLR Group
DLR Group is responsible for the design. The project is expected to show a glassy blue tower with a rectangular carve-out overlooking South Market Street. Cantilevered features will add some texture to the facade over First Street.
The property is located on the southern end of a narrow block bound by Market Street, South First Street, and William Street. Residents will overlook Parque de Los Pobladores and the Fay, a 23-story residential tower under construction at 600 South 1st Street.
470 South Market Street aerial view, image via Google Satellite
Construction is expected to start early next year, with completion as early as 2028.
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
Be the first to comment on "Construction Next Year For 470 South Market Street in Downtown San Jose"