A New Joint Proposal Could Bring Almost 450 Homes to 3550 N First Street in San Jose

Two developers have come forward with a joint proposal to transform the site at 3550 N First Street in San Jose. The resulting developments would convert the site from a vacant office property to as many as 446 new units of housing. SummerHill Homes and Cypress Equity are the two developers who have floated the plan.

3550 N First Street current Site, image via Google Street View

After completion, the development would consist of a large affordable apartment complex, with 373 units designated for below-market-rate. The units will target residents making 60% of the area’s median income. Separately, the project will also see the construction of 73 townhouse-style condominiums to be sold at market rate.

The total development will span a vast area of 5.9 acres. The property layout and designs for the buildings are still being reviewed before they can be finalized and approved for development, but the developers have indicated intentions for separate townhome and apartment buildings, with vehicle circulation, surface parking areas, and landscaped areas of the property.

The site’s location is ideally placed near several arterial roadways, allowing easy vehicle access for prospective new tenants. The Tasman light rail station provides additional transit access as well. The area of North San Jose was historically developed with more commercial and industrial properties than housing, but in recent years there has been a shift, with several new housing developments being built and proposed in close proximity. The housing surge may also support growth in nearby community amenities, including stores and restaurants. Residents of the future property can look forward to the neighborhood’s changing atmosphere.

3550 N First Street Site Location, image via ArcGIS Online

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