SAN JOSE — A housing tower could sprout in downtown San Jose that would produce hundreds of affordable residences and a display about a South Bay broadcasting pioneer.
The project is called Gateway Tower, a housing highrise that’s planned at 470 South Market Street in downtown San Jose’s lively and trendy SoFA district.
Street-level view of Gateway Tower, a 220-unit, 15-story affordable housing development at 470 South Market Street in downtown San Jose, concept. (DLR Group)
The tower would deliver affordable homes on a wedge-shaped property currently occupied by smaller buildings that appear to be mostly empty other than offices occupied by Core Cos., the project’s developer.
“Gateway Tower is a 15-story, 220-unit residential and mixed-use building that will serve as a welcoming landmark to the SoFA district as well as the ‘gateway’ to downtown San Jose,” Core Cos. stated in a new proposal on file with city planners.
Gateway Tower, a 15-story, 220-unit affordable housing development at 470 South Market Street in downtown San Jose, concept. (DLR Group)
The project would partially demolish an existing city landmark, Herrold College. The college site is named after Charles “Doc” Herrold, a radio pioneer who in 1912 conducted what is believed to be the first regular entertainment broadcasts from his station in San Jose.
“By integrating the historic elements of the existing buildings into the design, Gateway Tower will reinforce the rhythm and fabric of First Street and will encourage the continued assimilation of old and new along this pedestrian-focused street and neighborhood,” the plans on file with the city show.
The street-level space would also include a historical exhibit commemorating the career of “Doc” Herrold. This exhibit would be located on the South First Street side of the project.
“Gateway Tower merges a diverse range of stakeholders to create a lasting homage to the legacy of Charles “Doc” Herrold and the birth of radio broadcasting in San Jose,” the development proposal states.
The ground floor would include 3,800 square feet of retail space.
“This is a great-looking project with smart urban design interfacing with the public realm,” said Bob Staedler, principal executive with Silicon Valley Synergy, a land-use consultancy.
The initial version of the Gateway Tower project at this site envisioned a 20-story complex with 300 units of luxury apartments. The units would all have been market-rate residences.
A shorter tower with affordable units might have a smoother path to landing a construction loan and permanent financing in the current environment of soaring inflation and sky-high interest rates.
“The flatiron site allows each aspect of the tower to speak to the unique character of the surrounding area,” the development proposal states.
The tower will have frontage on South Market Street, William Street and South First Street, allowing it to be a gateway for a pair of major downtown San Jose streets.
“Market Street celebrates and welcomes visitors to downtown San Jose, First Street honors the smaller scale and artistic spirit of the SoFA district, and William Street reflects the rebirth of the neighborhood while helping to commemorate its historic roots in Parque de los Pobladores,” the development plans state.
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Source:: The Mercury News – Entertainment
