The agreement with Classic Communities will guide negotiations for the development and construction of for-sale townhouses on redevelopment agency property at the corner of North First and Bassett streets.
The agreement will allow the redevelopment agency to negotiate for the development and construction of a for-sale, higher-density housing project on agency property at North First and East Julian streets.
"Both Classic Communities and Regis Homes went through a rigorous process to make it to this point,'' says Susan Shick, executive director of the San Jose Redevelopment Agency. "They were chosen from 18 proposals received from well-qualified developers for their experience, the quality of their proposed designs and their ability to successfully complete housing projects of comparable size and complexity.''
The conceptual design submitted by Regis Homes proposes two levels of parking and four levels of high-quality condominiums built with a central interior courtyard, private entries and semi-private patios for each unit.
According to the redevelopment agency, the design reflects the best balance of density and neighborhood compatibility on the 23,000-sf site in the St. James Square neighborhood.
The proposal from Classic Communities presents a plan of pedestrian mews with buildings up to four stories, creating interior courtyards for entry with garages on the opposite side. Each unit on the 57,000-sf site in the Julian Stockton Redevelopment Area incorporates traditional design and a large living area.
"These two proposals will add some 90 additional units to a new neighborhood being created, which will have a total of 1,000 new units by 2005,'' says John Weiss, executive director of the redevelopment agency.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
