DevPro CRE has listed the full-entitled 237-unit apartment project at 1530-1544 West San Carlos Street in San Jose, Santa Clara County. The 1.34-acre property is listed for around $41 million, giving a future developer the option for new housing west of Diridon Station. Urban Villas LLC was the former project developer.
1530-1544 West San Carlos Street rendering for the previous design, design by Studio Current
The 92-foot tall structure is expected to yield around 353,370 square feet with 194,560 square feet of rentable floor area and 16,980 square feet for retail. Parking is included for 198 cars. Residential amenities will include valet parking, common areas, a workspace, a library, and a fitness center. Studio Current is the project architect and applicant.
1530-1544 West San Carlos Street aerial view, design by Studio Current
Once the property is sold, the future owner can execute the construction project or submit new plans to the city’s planning department. DevPro CRE estimates construction costs will be around $135 million, including the $41 million property cost.
Construction is expected to last around two years from groundbreaking to completion, with rental and operation to start six months later.
1530-1544 West San Carlos Boundaries, image via City of San Jose
The five-story plan is located between Buena Vista Avenue and Willard Avenue along the retail-rich West San Carlos Street. Construction is wrapping up a block and a half away at 329 Page Street, developed by Charities Housing and designed by David Baker Architects.
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Comparable replacement sites at same rent for those businesses needing to leave need to be part of the plan of development. So many businesses, restaurants and businesses with indoor activities, increased homelessness, garbage surrounding our streets , driveby shootings, hit and runs etc have really not made Santa Clara County more enticing place to live.