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Monday, December 9, 2013

The Ohlone Project in Midtown is Put on Hold

Developer Green Republic--which is a combination of Barry Swenson Builder and Republic Urban Properties--has withdrawn plans for a 3-tower high-rise project in the Midtown area of San Jose (between Downtown and Santana Row). The point of contention seems to be the density and height of the project and a new park the developer would be required to build to service the neighborhood.

It doesn't seem that Green Republic could get this project financed as a hi-rise project, and instead would like to lower the density of the first phase and make it a mid-rise. The city reluctantly agreed and also conceded on retail and financing requirements, but would not budge on the requirement to build a four-acre park. That seems to be what is blocking the scaled down version of this project from moving forward.

This is still some hope. The developer and city both seem to want this project to happen, and this is more of a negotiation on terms than anything else.

Source: SVBJ

The proposed Ohlone development in San Jose's Midtown neighborhood is on hold as the developer says it can't make the project pencil out given conditions it agreed to earlier.


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2 comments:

  1. UnknownDecember 9, 2013 at 7:36 AM

    Like Josh I'm confident that the mixed-use proposal will eventually come to fruition, as both the city and developers want it to happen. But what if the proposal completely falls through and the VTA remains stuck with a prime parcel abutting W. San Carlos St.?...
    A NEW BALLPARK SITE FOR THE A'S. Consider:
    1) across the Light-Rail tracks from the once considered Del Monte cannery site.
    2) easy transit access via Light-Rail and future BRT line along WSC St.
    3) still within walking distance of Diridon Station and close proximity to downtown SJ.
    4) could act as an even greater catalyst for development along WSC St. between SR/VF and DSJ. In many ways, this area of Mid-Town, industrial and gritty, is reminiscent of SOMA/South Beach prior to AT&T Park in SF.

    At the present Diridon parcel is proving very troublesome with legal issues and final land acquisitions. Single owner VTA land at Mid-Town could make life a lot easier for city and Lew Wolff.

    NIMBYS could be a factor, but transit access via Light-Rail, future BRT and Diridon Station would go a long way towards easing fears of massive traffic on game days.

    A ballpark at Ohlone Mid-Town: worth considering IMHO.

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  2. AnonymousDecember 10, 2013 at 6:13 PM

    Is this all going up in 1 phase? As 5 stories? I think they could try building part of it, and then going back and building the tower. I am guessing since the area is empty and the only thing nearby is the Cannary to show demand it is a tough sell. Granted getting rid of the retail, kind of makes it a tough sell to renters.

    It is only 1 1/2 blocks to safeway, and 2 1/2 blocks to Meridian Mixed Use (this really need a nice name), but it is all industrial and not a friendly walk.

    ReplyDelete