The City of San Jose has assisted in purchasing a seven-story apartment complex at 787 The Alameda by Diridon Station. The city has committed to financing “not to exceed $100,000,000 of tax-exempt multifamily housing revenue bonds by the California Municipal Finance Authority” to allow Catalyst Impact Fund to purchase the building. Once complete, Catalyst will oversee converting 168 units into affordable housing.
New permits have been filed to develop a vacant lot at 2222 Carroll Street on Ivy Hill, Oakland. The plan would create nearly two dozen homes on the narrow lot close to Cleveland Heights and 15 minutes from Lake Merritt, an increase from previous plans for 18 units across three structures. Oakland-based Team Projects is responsible for the developer.
Updated plans have been reviewed by the Belvedere Planning Commission for a 42-unit residential complex along Mallard Pointe in the small Marin County island city. After a seven-hour meeting, the Planning Commission approved a motion to continue the project to the Design Review Commission. Thompson Dorfman is overseeing the development.
Bayhill Ventures has announced plans for a new skyscraper at 530 Howard Street, overlooking San Francisco’s Salesforce Park. Initial plans shared with media this morning suggest the tower would stand 840 feet tall, making it the third tallest structure in the city skyline if built today and the second tallest in the city’s pipeline. Bayhill Ventures is a relatively new firm led by the former chief at Hines, Paul Paradis, and former president of the Sobrato Organization, Rob Hollister.
A new residential project has been approved for development at 1355 California Circle in Milpitas. The project proposal includes the construction of a housing community dedicated to teachers. Plans call for the demolition of an existing single-story industrial building on the site that has been vacant for the last eight years. The project is being designed and developed by Pulte Group.
