Downtown S.J. housing tower gets more units, fewer floors
High-rise on First Street could add more than 300 homes, dozens affordable
SAN JOSE >> A proposed residential tower could bring downtown San Jose more homes than previously anticipated, although the high-rise would be shorter than prior plans, according to a new city document.
Garden Gate Tower, a housing high-rise, would sprout at 600 S. First Street at one of the gateways to the south end of downtown San Jose, plans filed with the city show.
The plans call for 336 residential units, or 46 more than previously envisioned for the high-rise at South First Street and East Reed Street.
The project would have 28 affordable residential units.
“The development of the project would contribute a modern, high-quality urban design to the downtown,” according to a San Jose city staff report.
Scape, a British developer that specializes in student housing, has proposed a 23-story tower rather than the prior plan for a 27-story high-rise, according to the latest proposal Scape has on file with the city.
“Housing is widely needed,” said Bob Staedler, principal executive with Silicon Valley Synergy, a land-use consultancy. “It makes sense for this group to come in and right-size this project to make it pencil out.”
The ground floor is expected to consist of 5,900 square feet of retail or restaurant space.
In March 2020, Scape bought the development site for the tower. Acting through affiliate Scape San Jose, Scape paid $16.5 million for the property, which was sold by prominent local developer KT Urban, county documents show.
To finance the property purchase, Scape obtained a $15 million mortgage from an affiliate of New York City-based Mack Real Estate Group, a major realty investment firm.
With fewer floors, the units are expected to be smaller, according to the city plans.
The 336 residential units will consist of 218 one-bedroom units, 79 two-bedroom units, and 39 studios.
“It’s a good idea for San Jose to build up and not out,” Staedler said. “That is what this project is going to do to downtown San Jose.”
The primary focus of Scape is housing for students, according to the company’s website.
“Scape was founded on a simple idea, that students deserved better,” Scape states on its website. “For too long, being a student meant having to compromise on quality living.”
London-based Scape said its projects are designed as “inspirational” places for students to live and work.
“We’ll make sure you have everything you need to feel more safe, calm, and at home than any other student accommodation out there,” Scape stated.
Garden Gate Tower would be built across the street from two other residential developments: Sparq and The Pierce.
Construction on the project is slated to begin around October 2021 and is anticipated to require 27 months to be completed, which means that it could open sometime around the spring of 2024.
“This is the kind of infill urban development that can put a dent in the housing issue,” Staedler said. “Each one of these projects that gets built will make the next one more viable.”