Completion is scheduled by the end of the year and based on the photos below from San Jose Trails it looks like a lot of progress has already been made.
Sources: San Jose Trails, The Merc
Tuesday, August 12, 2014
Balermino Park Under Construction on Almaden Road
Balermino Park is being built on 1.8 acres near the Almaden Family Apartments. The most unique feature in the park will be a pavement design that resembles traditional Ohlone basket weaving (the person the park is named after was born to Ohlone-speaking parents). Balermino will also have picnic areas, play structures, and a basketball court.
Completion is scheduled by the end of the year and based on the photos below from San Jose Trails it looks like a lot of progress has already been made.
Sources: San Jose Trails, The Merc
Completion is scheduled by the end of the year and based on the photos below from San Jose Trails it looks like a lot of progress has already been made.
Sources: San Jose Trails, The Merc
Monday, August 11, 2014
Tallest North San Jose Apartment Project Ever Moves Forward
After eight years of stalls and delays, the Century Center Towers project is getting a new push. Barry Swenson Builder is now partnering with Essex Property Trust to get two 12-story residential towers built at 1733 N. 1st St. The location is near the old Sony campus and Casino M8trix, and has convenient access to both light rail and Highway 101.
Century Center Towers will have 376 apartment units and will cost $170 million to build (including land costs). There were no special incentives or fee reductions here, and the land is already being prepped for construction.
This is the first San Jose residential high-rise building to be built outside of Downtown San Jose. I don't think it will be the last. This is a strong sign of increasing density in San Jose, and a new push to build in transit corridors. Hopefully more corporations (like Samsung) will employ this model as well as opposed to your traditional sprawled out office campuses.
Source: SVBJ
Century Center Towers will have 376 apartment units and will cost $170 million to build (including land costs). There were no special incentives or fee reductions here, and the land is already being prepped for construction.
This is the first San Jose residential high-rise building to be built outside of Downtown San Jose. I don't think it will be the last. This is a strong sign of increasing density in San Jose, and a new push to build in transit corridors. Hopefully more corporations (like Samsung) will employ this model as well as opposed to your traditional sprawled out office campuses.
Source: SVBJ
Sunday, August 10, 2014
J. Crew Factory and Gap Factory Store Coming to Westgate
Federal Realty--same owner as Santana Row--has already done quite a bit to overhaul Westgate with a big remodel, new stores, and new restaurants. Now they are bringing two more anchor tenants: J.Crew Factory and the Gap Factory Store. Both will fact Saratoga Avenue and should be ready for business by Spring 2015.
Westgate will also be getting Carter's and Oshkosh B'Gosh in a combined store next to Target. For more info have a gander at the press release below.
San Jose, CA (August 8, 2014) – Federal Realty Investment Trust is bringing the outlet center, traditionally located in outlying areas, to the city with a strong mix of top discount stores. J. Crew and Gap are among two retailers opening outlet stores in the revamped Westgate Center next year. They join Nike Factory Store, which opened in February, and Skechers Factory Outlet, which opened in July.
“This is a new direction for Westgate Center,” said Jeff Kreshek, Federal Realty’s vice president for West Coast Leasing. “Our customer is looking for quality, variety and diversity; a product mix that outlet shops combined with full price brands can deliver.”
Following an extensive $15 million renovation and the addition of shops such as Nike Factory Store, J. Crew Factory and Gap Factory Store, the center will provide an innovative, exciting and accessible experience for customers.
J. Crew Factory is scheduled to open in spring 2015. The approximately 5,750 square-foot store facing Saratoga Avenue will feature ready-to-wear pieces, boldly colored basics and casual classics for men and women. This family-friendly new addition will also feature “crewcuts,” the brand's coveted children's line offering "mini-me" looks in sizes 2 to 14.
Westgate Center has also scored a Gap Factory Store, scheduled to open in spring 2015. Gap Factory Store will be a 10,910 square-foot store fronting Saratoga Avenue next to Old Navy. In addition, Carter's and Oshkosh B'Gosh will open a combined 9,137 square-foot store facing Saratoga Avenue, next to Target.
“As anchor stores, both Gap Outlet and J. Crew Factory will drive more shoppers to Westgate Center,” said Kreshek. “Furthermore, the broad tenant mix, as well as the mall’s location on heavily-traveled Saratoga, Hamilton and Campbell avenues in San Jose provides convenience and top brands to the densely-populated surrounding communities.”
About Westgate Center
Westgate Center, located in San Jose, California is a 645,000 square-foot community center offering a one-stop family destination for shopping, dining and entertainment. Westgate Center features over 50 shops and restaurants and is anchored by Target, Nordstrom Rack, Walmart Neighborhood Market, Nike Factory Store, Old Navy, Burlington Coat Factory, Michaels and Ross. Westgate Center is a property of Federal Realty Investment Trust www.federalrealty.com (NYSE:FRT), headquartered in Rockville, Maryland. For more information, please visit shopwestgatecenter.com.
About Federal Realty
Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management, development, and redevelopment of high quality retail assets. Federal Realty's portfolio (excluding joint venture properties) contains approximately 20 million square feet located primarily in strategically selected metropolitan markets in the Northeast, Mid-Atlantic, and California. In addition, the Trust has an ownership interest in approximately 1.0 million square feet of retail space through a joint venture in which the Trust has a 30% interest. Our operating portfolio (excluding joint venture properties) was 95.3% leased to national, regional, and local retailers as of June 30, 2014, with no single tenant accounting for more than approximately 3.2% of annualized base rent. Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 47 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P MidCap 400 company and its shares are traded on the NYSE under the symbol FRT.
Westgate will also be getting Carter's and Oshkosh B'Gosh in a combined store next to Target. For more info have a gander at the press release below.
San Jose, CA (August 8, 2014) – Federal Realty Investment Trust is bringing the outlet center, traditionally located in outlying areas, to the city with a strong mix of top discount stores. J. Crew and Gap are among two retailers opening outlet stores in the revamped Westgate Center next year. They join Nike Factory Store, which opened in February, and Skechers Factory Outlet, which opened in July.
“This is a new direction for Westgate Center,” said Jeff Kreshek, Federal Realty’s vice president for West Coast Leasing. “Our customer is looking for quality, variety and diversity; a product mix that outlet shops combined with full price brands can deliver.”
Following an extensive $15 million renovation and the addition of shops such as Nike Factory Store, J. Crew Factory and Gap Factory Store, the center will provide an innovative, exciting and accessible experience for customers.
J. Crew Factory is scheduled to open in spring 2015. The approximately 5,750 square-foot store facing Saratoga Avenue will feature ready-to-wear pieces, boldly colored basics and casual classics for men and women. This family-friendly new addition will also feature “crewcuts,” the brand's coveted children's line offering "mini-me" looks in sizes 2 to 14.
Westgate Center has also scored a Gap Factory Store, scheduled to open in spring 2015. Gap Factory Store will be a 10,910 square-foot store fronting Saratoga Avenue next to Old Navy. In addition, Carter's and Oshkosh B'Gosh will open a combined 9,137 square-foot store facing Saratoga Avenue, next to Target.
“As anchor stores, both Gap Outlet and J. Crew Factory will drive more shoppers to Westgate Center,” said Kreshek. “Furthermore, the broad tenant mix, as well as the mall’s location on heavily-traveled Saratoga, Hamilton and Campbell avenues in San Jose provides convenience and top brands to the densely-populated surrounding communities.”
About Westgate Center
Westgate Center, located in San Jose, California is a 645,000 square-foot community center offering a one-stop family destination for shopping, dining and entertainment. Westgate Center features over 50 shops and restaurants and is anchored by Target, Nordstrom Rack, Walmart Neighborhood Market, Nike Factory Store, Old Navy, Burlington Coat Factory, Michaels and Ross. Westgate Center is a property of Federal Realty Investment Trust www.federalrealty.com (NYSE:FRT), headquartered in Rockville, Maryland. For more information, please visit shopwestgatecenter.com.
About Federal Realty
Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management, development, and redevelopment of high quality retail assets. Federal Realty's portfolio (excluding joint venture properties) contains approximately 20 million square feet located primarily in strategically selected metropolitan markets in the Northeast, Mid-Atlantic, and California. In addition, the Trust has an ownership interest in approximately 1.0 million square feet of retail space through a joint venture in which the Trust has a 30% interest. Our operating portfolio (excluding joint venture properties) was 95.3% leased to national, regional, and local retailers as of June 30, 2014, with no single tenant accounting for more than approximately 3.2% of annualized base rent. Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 47 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P MidCap 400 company and its shares are traded on the NYSE under the symbol FRT.
Saturday, August 9, 2014
Santana Row's Next Office Building Moving Forward
A 225,000 SQFT, six-story office building a the end of Santana Row is going to break ground this year--with or without a tenant. This is known as building on spec (speculation). Usually developers don't do this unless the market is extremely strong.
The building will be unique for San Jose. It is being modeled similar to a loft building in SF's SoMa district than your typical office building here. The ceilings will be huge with giant floor plates, ideal for modern companies focused more on collaboration rather than a cube culture.
Also part of the plan will be 1,500 SQFT of retail on the ground floor (why not more?) and 670 underground parking spots that will be usable for Santana Row visitors during nights and weekends.
Source: SVBJ
The building will be unique for San Jose. It is being modeled similar to a loft building in SF's SoMa district than your typical office building here. The ceilings will be huge with giant floor plates, ideal for modern companies focused more on collaboration rather than a cube culture.
Also part of the plan will be 1,500 SQFT of retail on the ground floor (why not more?) and 670 underground parking spots that will be usable for Santana Row visitors during nights and weekends.
Source: SVBJ
Friday, August 8, 2014
Sourisseau News: A Tale of Two City Halls
What city is that below? Check out the following short video to see two of San Jose's previous city halls... one that looks like a castle and the magnificent structure below. This might be my favorite Sourisseau News video so far.
A Tale of Two City Halls - San Jose from WMS media Inc. on Vimeo.
A Tale of Two City Halls - San Jose from WMS media Inc. on Vimeo.
Thursday, August 7, 2014
Frances Marin Art Show @ Chromatic Coffee Today
San Jose-based artist Frances Marin is presenting new art today at Chromatic Coffee. The show starts at 6:30pm and also features live music by All Dogs, Younger Lovers, Joyride, and Bascom. To get a feel for her style, have a look at the Frances Marin website over here.
Wednesday, August 6, 2014
NHL Announces Sharks vs. Kings Stadium Series at Levi's Stadium
As arguably two of the biggest "modern day" rivals in the NHL, a thrilling Sharks/Kings series is also a testament to the upward trend of the popularity of ice hockey in California, which led to the decision to bring the anticipated outdoor regular season game back to the Golden State for the second year in a row. Sharks fans are going to have their raw emotions all over this one, especially after dropping a disappointing playoff series last season to the eventual Stanley Cup champion Kings team, when the Sharks had been in a dominant 3-0 game advantage position. Although the NHL's Winter Classic and Stadium Series outdoor games count just as one regular season game, the thrill of a rare and exciting event like this one can make the experience feel like something much more significant, and as such, this is why we must beat the Kings here at home.
Levi's Stadium, the new home for the San Francisco 49ers, has the capacity of hosting more than 68,000 fans, and given the successful popularity of the NHL's outdoor games, this is likely going to be one of the largest sporting events Northern California will see for quite some time.
Tickets go on sale tomorrow, Thursday, exclusive to season ticket holders for both the Sharks and the Kings, after which tickets will be available to the general public. Base prices range from a low of $65 to a high of $350.
In the tradition of outdoor games, expect both teams to release customized jerseys for the event later this year.
Berryessa BART Station Analysis
SPUR has an in depth analysis of San Jose's first BART Station and provides multiple suggestions for maximizing the land use around it. Its a bit lengthy, but is definitely worth a read if you are interested in future development or urban planning. I really like the idea to create a retail park out of shipping containers right next to the station. Check out the article over here.
Thanks to David Speakman for sending this in.
Thanks to David Speakman for sending this in.
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