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Monday, November 25, 2013

City of San Jose Pushing for a High-Rise Next to The Tech

The City is looking for a developer to come in and build a mixed-use high-rise where the Parkside Hall is currently situated. The location is stellar, close to many of the amenities Downtown. Ideally this would be either an office or residential high-rise sitting on top of retail. Given that the office vacancy Downtown is still quite high (around 20%) and residential is on fire, my guess is that this project will end up being our 6th or 7th apartment tower to move forward in this latest development boom... assuming of course they find a developer willing to take it on. Another potential option is a residential/hotel hybrid (like the St. Regis or Four Seasons in San Francisco).

The only downside I see here is The Tech losing Parkside Hall, which is used for special exhibits such as Star Wars: Where Science Meets Imagination. Perhaps they could utilize our newly expanded convention center instead?

Source: SVBJ

The area highlighted in yellow shows the development opportunity. The city's Office of Economic Development has issued a request for qualifications to developers for the site.

5 comments:

  1. I would love to see this corner finally get redeveloped but not at the expense of loosing Parkside. It's a great facility for the travelling exhibits and no where ot house them if its lost. There is no room in the new center. The space is used way to heavily as a Convention Center and would impact the large conventions the city gains.
    The exhibits don't fill hotel rooms, but it does bring people into downtown. The addition of a highrise with ground floor retail would be a big boom for the area.
    Maybe we could see a mixed/use building. Hotel/Apartments. We could use another few hundred hotel rooms close to the center.

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    1. If they are able to get a hotel or hotel/residential combo (which would make perfect sense for this spot), there could still be a sizable space that could be used for exhibits.

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  2. And way to (potentially) throw out the Tech's large solar array with the bath water there, team.

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    Replies
    1. Perhaps they could be re-installed on top of the convention center.

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  3. Actually a big component of the deal is that the developer must build a new Parkside Hall. The highrise would be at the corner of Almaden & Park (200 Park Ave).

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