More Corp Yard news

From SJ Economy News:

After 10 years of work to find the best possible use for a major site in the heart of San José’s JapanTown, the City Council close on the sale of the former Corporation Yard.
The sale returns $18.5 million to the City, but more importantly, it paves the way for a top-quality project yielding 20,000 sf of retail space, 520 residential units, and a .75-acre park. In addition, a .75 parcel was given back to the City, to become the permanent home of San Jose Taiko and CreaTV San Jose.

 

Just wanted to add this:

What’s next
From the SVCreates site:

  • SVCREATES and Ankrom Mosian Architects will submit plans to the City of San Jose to apply for PD (planned development) Permit.
  • SVCREATES will select a builder/general contractor for the construction project.
  • SVCREATES will sign lease term sheets with a range of prospective tenants.

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3 thoughts on “More Corp Yard news

  1. Hi Douglas – not sure if you went to the Council session this week when they voted to amend the agreement with the developer. I couldn’t, but I did connect afterward with the city planner in charge of the project. The biggest takeaway for me is that Related is out and Shea Homes is in. I don’t know enough about either company to know if that’s a good thing.

    I also asked if she knew anything about groundbreaking, since I thought I’d heard recently that they’re planning that for Q1 of next year. (Of course, we also heard that a year ago, IIRC.) She said the developer has FOUR YEARS from the time of the sale from the city to BREAK GROUND!

    I hope for everybody’s sake it doesn’t take nearly that long. Then again, if Shea is starting from scratch on the project…

  2. Thank you for the update, Peter. I regret that I’ve been distracted by other things recently, and as you’ve noticed, the developers (and the city?) have been less than transparent lately.

    We can only guess what factors drove Related to drop the ball. If Q1 next year truly is the target, then it’s probable that Shea Homes is willing to keep the same agreements that Related made with the city and the community. Fingers crossed, anyway.

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