SAN JOSE — Inexpensive properties might sprout on the positioning of an older San Jose workplace heart that’s greater than six a long time previous, metropolis paperwork present.
The proposed improvement is slated to be constructed at 259 Meridian Avenue in San Jose, in keeping with a preliminary proposal filed with town’s Planning Division.
If the mission is constructed, the housing improvement would come with 154 models, town planning paperwork present.
The six-story mission could be developed throughout the framework of SB 330, a legislation that’s designed to streamline the method for the approval of housing developments.
The Meridian Avenue mission website is positioned between West San Carlos Avenue and Norton Avenue.
The 1.3-acre improvement website at present consists of three one-story workplace buildings, metropolis paperwork present. The three workplace buildings had been inbuilt 1958, in keeping with the LoopNet business property database.
This isn’t the primary time housing has been proposed on this website. Someday round 2020, a 226-unit residential and business mixed-use advanced was proposed on the property. That mission was by no means developed.
At current, the property is owned by Paul Lin and Krista Lin in addition to an affiliate that the Lins management that’s known as Holmes Enterprise LLC, an actual property database reveals.
On the finish of June 2023, the positioning’s assessed worth was $5.6 million, together with the three buildings and the land beneath them.
Milestone Housing Group, which specializes within the improvement of reasonably priced properties, has floated the present plans calling for a 154-unit residential advanced, in keeping with town paperwork.
Los Gatos-based Milestone Housing has proposed the event of at the least 5 residential tasks in California, posts on the actual property agency’s web site present.
“Milestone Housing’s mission is to generate and preserve prime quality, protected and reasonably priced housing,” the corporate states on its web site. “Creating housing stability establishes a powerful basis for our residents, enabling them to concentrate on bettering their lives.”
The actual property agency says it groups up with nonprofit organizations to develop housing tasks.
“We produce housing for people and households with a wide range of wants, together with everlasting housing for the homeless, veterans and people with disabilities, together with conventional household and senior housing,” Milestone states on its web site.