130 New Homes Coming to Santana Row

Finally a major housing project is moving forward in San Jose! Barry Swenson has been contracted to build 130 new apartments (flats and townhomes) in the 1.5 acre parking lot behind Santana Row's Borders Bookstore. The project will be at least 5 floors, 4 stories of residential on top of a parking garage which will hopefully accommodate more than just the residents. The new units will likely by rented out first and then sold as condos. Federal Realty is expected to foot a bill of around $30 million, or just under a quarter million per unit. If it sounds cheap per unit, don't forget to factor in the value of the land these units are sitting on top of.