More than 500 homes could replace surface parking in San Jose
SAN JOSE — A large surface parking lot amid North San Jose’s technology hubs could be developed as a residential complex of more than 500 homes, according to city documents.
The parking lot is located at 1737 N. First St. and totals 3.5 acres, according to Santa Clara County assessment records.
Pacific Resources Stevenson, the owner of the site, which also includes a six-story office building totaling 84,500 square feet, filed the residential development proposal, according to San Jose planning documents.
The development would total 510 residential units, according to the project proposal. The planning site did not disclose whether any of the units would be affordable.
The project would be a mixed-use development that would combine housing with offices, retail and residences with the existing office building.
The residences would be incorporated into two buildings that would sit atop a parking structure. The buildings would be connected to amenity spaces totaling 10,500 square feet.
“A project on a parking lot that a developer already owns makes sense because land costs are rising,” said Bob Staedler, chief executive of Silicon Valley Synergy, a land-use planning consultancy.
The parking structure will use a combination of traditional parking bays and a type of parking arrangement called stackers. Stacker parking allows vehicles to be stored vertically and then moved to the desired floor with elevators.
“This type of development using stackers will become more prevalent,” Staedler said. “Strackers save a significant amount of construction costs due to their efficient use of space.”
Housing development in some sections of North San Jose makes sense by placing residences near workplaces, according to Staedler.
“San Jose needs to focus on getting housing close to existing tech hubs,” Staedler said. “The first northern corridor has a lot of untapped housing potential. Having housing close to jobs allows employees to walk and bike to work and reduce car trips.