New renders of Museum Place, Downtown's most impressive high-rise proposal to date

I hope everyone has enjoyed the long weekend. It seems like it has been ages since we have had some really exciting development news. Thankfully, Nathan Donato-Weinstein from the SVBJ has come to the rescue with news on Museum Place. This is an epic mixed-use project first revealed last August.

The first formal plans for Museum Place have been submitted to the city, and the latest renders look even more impressive than before. Those plans include 213,820 SQFT of office space, 334 condos, a 143-room boutique hotel, 12,171 SQFT of retail, and a 60,000 SQFT expansion of The Tech museum (ground floor plus one level underground). There will be enough parking for 1,000 cars, all underground using a system where cars can be stacked on top of one another. The building will also have one of the slickest signage/lighting systems in Downtown.

Not only will this significantly change the skyline with a unique design, but it will help activate a paseo that runs between Park Avenue and the Convention Center. Getting a few projects like this in the area will be a game-changer! Check out the renders below and all of the details at the source link.

Source: SVBJ

New Rendering Video for Museum Place!

The most ambitious high-rise proposal in Downtown San Jose is getting a bit more real. Insight Realty has created a simulation of what some of the spaces in the massive project could look like. "Museum Place" includes a 60,000 SQFT expansion of The Tech Museum, 210,000 SQFT of office space, twelve floors of condos, a boutique hotel, and a floor of luxury penthouse condos. Watch the two minute video below to get a sense of what the area around The Tech might look like in a few years!

Source: Hillrise from the San Jose Development Forum

New World-Class Tower Proposed for Downtown San Jose!!!

If you are wondering why I began today's post with a photo, it is because I was almost lost for words when I read Nathan Donato-Weinstein's article in the Business Journal. This high-rise proposal is easily the most impressive I have ever seen in my lifetime for Downtown San Jose! 

The City of San Jose has been shopping around for a developer to come in an build out a killer project in one of Downtown's best locations right behind the Tech Museum. Of the four proposals they received, they have chosen to move forward with one by Insight Realty, which includes a design by Steinberg Architects (same architect that did The Tech). It looks like they made the right choice.

This would be the most "mixed-use" high-rise tower in San Jose, and maybe even in the Bay Area. This project would include a 60,000 SQFT expansion of the Tech Museum on the ground floor, 210,000 SQFT of "creative office space" on the next five floors, twelve stories of condos, then three stories for an upscale boutique hotel, and finally a floor of luxury penthouse condos. The tower would rise 270 feet tall and have a cascading effect that would bring green balconies and terraces to a huge portion of the building. It looks like they would even turn the roof of The Tech into a park! 

I don't even know where to begin with how excited I am, and and the impact this would have Downtown! As opposed to just being residential, it will bring some much needed hotel and Class A office space Downtown. This would be the first new office space built Downtown since 2010. Each component of the project has a symbiotic relationship with the rest. The park could be used by office workers during work days and residents and hotel patrons during nights and weekends. The hotel amenities would be accessible to residents as well. Parking could be shared between office workers and residents since they have separate peak demand cycles. The list goes on and on.

As for location, it could not be more central Downtown. Plaza de Cesar Chavez, the Convention Center, the Center for Performing Arts, the City National Civic, the Montgomery Theater, The Guadalupe River Park, and of course the Tech are all immediately accessible. Across the street you will find the Adobe's Headquarters and the Riverpark Towers with two of the fastest growing tech companies in San Jose, Xactly and Intacct. If you draw a circle a 10 minute walk from the proposed project, it will include San Pedro Square, SoFA, Camera 12, most companies on Santa Clara Street, and about 150 restaurants. If you go out 15 minutes, you can add the SAP Center, Diridon Station, and SJSU to the list.

Last, but definitely not least... the building has landmark-grade architecture. I would be 100% satisfied if the design did not change one bit between now and when the shovels hit the ground. Even better is the fact that it would replace two of the most dilapidated and ugly buildings Downtown. (Update: these two structures are just outside the scope of the project, although I can't imagine the building on the corner staying there for long.)

If all goes well, the City of San Jose and Insight Realty could finalize the deal within six months (hopefully much sooner). No construction start date is listed in the article, but late 2016 might be feasible if the deal gets wrapped soon. Exciting times ahead!

Source: SVBJ

Centerra is Breaking Ground Soon!

We are getting so close to seeing some shovels in the ground Downtown for two high-rise projects. I'm not sure which one to be more excited about. One South Market have a more central location Downtown, but Centerra is going to be located right across the street from the San Pedro Square Market and will very likely make a substantial contribution to the restaurant, retail, and culture scene that is emerging there. Not only will it be supplying more customers, but the project will be adding retail of its own facing the Market. This is unlikely, but I think it would be pretty amazing if they are able to keep the same small-vendor configuration as the SPSM for their retail to create more synergy in the area.

Anyway, here are some quick facts about Centerra:

• 347 units
• 21 stories
• 80% of the units will be one or two bedroom
• Average unit size is 935 SQFT
• Most units will have private balconies
• 7,000 SQFT of retail facing the San Pedro Square Market
• The parking structure is in the center of the building and is completely wrapped in apartment units, hiding it entirely (sweet!)
• There will be a special area for dogs (also, Andy's Pet Shop is across the street)
• A bike shop/storage area is going to be located on the ground floor
• Other amenities include a pool, hot tub, kitchen area, and gym

They are targeting the ground breaking for summer and it will take about two years to build out. Can't wait!

Source: SVBJ

Downtown Condo Crawl Open House + Free Drink at SPSM!

This Saturday from 12-4pm you can check out all of the high-rise condo buildings in Downtown San Jose with free pedicab transportation between each one! If you have ever wondered what living in a high-rise would be like, this would be a good opportunity to get more information and see all of your San Jose options. As an added bonus, if you visit all 3 towers you will get a drink ticket for use at the San Pedro Square Market (complete digression here, but it's really coming along nicely and well worth a visit). 


Fore more info click to enlarge the image below or click here, here, or here. (Come on, I know you want to click all 3!)

Downtown San Jose Twilight Open House - Thursday @ 5-8pm

Another high-rise open house is coming to Downtown San Jose in just 2 days. There will be plenty of food from The Mmoon, Loft Bar and Bistro, and Mezcal! In addition, there will be pedicabs that will transport you for free from high-rise to high-rise. If you make it to all 3 venues, then you'll be entered into a raffle to win gift certificates for Ballet San Jose, Tova Day Spa, La Pastaia, Zanotto's, Lost Gatos Brewing Company, Satori Tea, and Andy's Pet Shop. You can register for the event right over here.

Update on Downtown Condo Sales

This week's edition of the Silicon Valley / San Jose Business Journal has an article with an update on downtown condo sales entitled "Developers see turnaround in downtown San Jose high-rise condo market."

Here are the latest numbers:

• 360 Residences
• 213 Units
• 90 Sold (Opening Soon for Occupancy)
• Axis
• 329 Units
• 86 Sold
• The 88
• 197 Units
• 57 Sold
• City Heights
• 124 Units
• 92 Sold

To read the full article click here.

1500th Person to Call the Heart of Downtown San Jose Home!

Last Thursday Downtown San Jose achieved a major milestone in its history. Sarah Ligda became the 1500th person to clutch the keys of a brand new Downtown San Jose condo! If you've been to downtown lately, you've probably noticed that there are a few more lights on when you look up at the sky and a few more feet on the streets. Despite a rocky economy the heart of our city continues to grow in every way possible: density, eclecticism, and culture. It's becoming a place were people want to live, work, play, and just be. Every key that gets passed on to new condo owners chisels away at the stereotypes and misconceptions Downtown has dealt with for decades and paves the way for a much brighter future.

Now, it is with tremendous pleasure that The San Jose Blog gets to bring you the following press release before anyone else. Enjoy!

***

SAN JOSE (March 4, 2010) Sarah Ligda, a recent San Jose State University masters-degree graduate now working in high-technology in Silicon Valley, was heralded today as the 1500th new downtown resident of San Jose’s two-year surge of condominiums. A resident of The 88 highrise at 88 E. San Fernando, Sarah joins the growing population of singles, couples and families who are finding greater appeal in urban life than the previous generation, a lifestyle also seen as a path toward greater sustainability for the planet, according to officials who gathered downtown to mark the occasion.

Nearly two-dozen new downtown retailers were also feted, including 12 that have opened in 2009 and 11 more planned to open in 2010.

San Jose City Council Member Sam Liccardo, San Jose Downtown Association Executive Director Scott Knies and The 88’s Seth Bland of developer Wilson Meany Sullivan were among the officials presenting a basket of downtown retailer gifts to Sarah.

The 1500th resident marks the move-in of over 850 new buyers, plus a multiplier for household size, in nearly 20 downtown properties since late 2007 when the first highrise, City Heights, welcomed new residents, according to research by Pacific Marketing Associates.

“Sarah’s move to downtown is emblematic of our emerging Downtown populace,” said Liccardo. “She’s a young, well-educated, tech worker seeking an urban environment where she needs to walk no more than a block to encounter a yoga studio, Brazilian restaurant, grocery store, a live theater, and a comedy club. It’s all here.”

“Day by day, we’re seeing small but significant forward-steps downtown, and the addition of 1500 new residents plus our new retailers is part of that story,” said Knies. “The new downtown condominium buildings are bringing more vibrance and activity compared to a year or two ago, and you can see the incremental change every afternoon and evening on the sidewalks and in the restaurants.”

The new downtown retailers of 2009-10 include:

-- Newly-opened in the past year::
The Market by Safeway, E. San Fernando at 2nd
Maceio’s Brazilian Restaurant - 72 S. First St.
Soula Power Yoga Studio - 200 S. First Street
Icebee Yogurt - 151 S. Second St
Silk Road Mediterranean Café - 185 Park Ave
San Jose Glass Artist Alliance – 465 S. First St.
The Heel Bar – shoe repair, service for residents – 134 E Santa Clara St
Love’s Cupcakes - 85 E. San Fernando St.
WOW Noodle Bar - 76 S. First St.
The Old Wagon Saloon & Grill - 73 N. San Pedro St.
Downtown Yoga Shala 450 S. First St.
The Cheesesteak Shop - 76 E. Santa Clara St.

-- Retailer planned in First Quarter 2010
The MMoon Empanada Restaurant - 177 W. Santa Clara St [cq: MMoon with 2 M's)
The Pasta Market - Market Center on Coleman
Pho 69 - 321 S. First St
U-Food Grill - 143 W Santa Clara St
Tangerine Hookah Lounge - Fountain Alley
Morton’s The Steakhouse – expansion (177 Park Ave.)
La Victoria – expansion - 131 W. Santa Clara St.

-- Planned later 2010:
Market at San Pedro Square – open August 2010
Flames Eatery - 88 S 4th St - expansion to add bakery and extra seating - December 2010
Higher Fire Ceramics Gallery & Studio – 495 S Market – Summer 2010
Ross Dress for Less – 27 S First St –June 2010

From the left: Seth Bland of The 88; Scott Knies from the SJDA; Nancy Avila from Maceio’s Brazilian Steakhouse; Sarah Ligda, the ceremonial 1500th new downtown condo resident; Sam Liccardo, City Council Member; Kimberly Beach, store manager of The Market by Safeway; and (Mr.) Meredith Davis, a teacher at Soula Power Yoga.

Downtown San Jose Condo Sales Gaining Traction

There was a good article in the Merc a couple days ago that sheds more light on how high-rise condo sales are doing in Downtown San Jose. A few numbers have already been shared in the latest Downtown Dimension, but the image below really puts it all into perspective. While the numbers don't seem awe inspiring, keep in mind the economic times, the negative perception many people still have of downtown, and the fact that this type of housing product is a new concept to a city which is just now moving away from suburban thinking. Every time I visit Downtown I notice more lights turned on in the condo buildings, which provides me with an oddly reassuring feeling. By this time next year, hopefully every condo will have an owner and developers will be breaking ground on the next round of residential skyscrapers.

Click here to read the full Merc article.