SAN JOSE — A big housing development in San Jose with hundreds of apartments and townhomes is pushing forward following a veteran residential builder’s purchase of the property needed for the project.
SummerHill Homes, acting through an affiliate, paid $13.5 million for the property where the housing is slated to sprout, according to documents filed on April 30 with the Santa Clara County Recorder’s Office.
The development site is at 210 Baypointe Parkway and would replace a one-story office and research building totaling 67,000 square feet, San Jose planning documents show.
Comerica Bank provided SummerHill Homes with a construction loan of $43.2 million, according to the county property files.
JT Associates sold the 4.3-acre site to the SummerHill affiliate. The building was empty in early May, a direct observation of the project site by this news organzation shows.
SummerHill plans to develop a seven-story apartment building with 292 units on a portion of the site.
Nearby on the site, SummerHill has also won approval to develop 42 three-story townhomes, the San Jose planning files show.
“The apartment building will have a full range of indoor and outdoor recreational amenities, including a
pool and spa on a resort-style landscaped podium courtyard, rooftop decks, a clubroom, and a fitness studio,” SummerHill Homes stated in a project narrative it provided to city officials.
SummerHill believes the project will benefit the area where the development would be built.
“The redevelopment of this industrial site with high-quality residential will enhance the neighborhood and be more compatible with the surrounding residential uses,” SummerHill stated.
A timeframe for demolition and new development wasn’t immediately known.
“The site is situated ideally for professionals seeking a home adjacent to large employers in the north San Jose area and will provide access to scarce for-sale housing as well as new Class A apartment residences,” SummerHill stated.