Construction is expected to start later this week for Aquino, a dense eight-story apartment complex to rise at 498 West San Carlos Street in San Jose, Santa Clara County. New building permits were filed last week with the city’s planning department, and the team has secured a $112.5 million construction loan for the 278-unit complex. Urban Catalyst is the project developer.
The eight-story structure is looking to create 278 units, including 14 deed-restricted affordable units for very low-income households. Unit types will vary, with 211 smaller units with 0-1 bedrooms and 67 two or three-bedroom residences. Parking will be included for 167 cars and 88 bicycles. The ground floor will include the internal garage and a community room.
498 West San Carlos Street, ground-level floor plan by BDE Architecture
BDE Architecture is responsible for the design. Renderings show that the podium-style design has remained consistent over the last few years, featuring a barcode-inspired façade treatment interrupted by curved corner windows and two clusters of private balconies.
Speaking with George Avalos for the Bay Area News Group, the founder and managing partner of Urban Catalyst, Erik Hayden, shared that “we may be at the start of the next cycle of apartment development. If interest rates drop, we’ll see a huge run in new development. A lot of projects are shovel-ready right now. You’ll see more people jump in with projects.”
498 West San Carlos Street, image via Google Street View
The project site is located directly across from the recently completed hotel project by Urban Catalyst at 495 West San Carlos Street. The property is just half a mile away from Diridon Station. Downtown San Jose is just a five-minute ride away via bus or bicycle.
Groundbreaking is expected this Wednesday, September 3rd, with work lasting between 25 months until completion.
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 Soon For Aquino in San Jose"