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San Francisco

Office owner eyes 500 apartments atop parking lot in North San Jose

Pacific Resources Stevenson aims to build units over a car stacking system with lifts

1737 N. First Street (Google Maps)
1737 N. First Street (Google Maps)

The owner of a six-story office building in San Jose seeks to build more than 500 apartments atop its parking lot in North San Jose.

Pacific Resources Stevenson, based in San Francisco, has filed preliminary plans to build the mixed-use complex at 1737 N. First St., the San Jose Mercury News reported. The 3.5-acre parking lot is south of the 101 Freeway and east of the San Jose airport amid a tech hub on the city’s north side.

The real estate company, which owns the 85,000-square-foot office building, filed plans to build 500 residential units at the site. The early filing didn’t say whether any of the apartments would be affordable.

The project would include a mixed-use development that would combine housing with offices and retail space. The apartments would be in two buildings on top of a parking structure.

The buildings would be linked by 10,500 square feet of amenity spaces, the newspaper reported.

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The parking structure would combine traditional parking stalls and a parking arrangement called stackers – which allowed vehicles to be stored atop one another, then moved to various floors with lifts.

“A project on a parking lot that a developer already owns makes sense as land costs are rising,” said Bob Staedler, principal executive with Silicon Valley Synergy, a land-use consultancy. “This type of development using stackers will become more prevalent. The stackers save a significant amount of construction costs by their efficient use of space.”

Staedler also thinks building housing in some sections of North San Jose makes sense because it puts homes near workplaces.

“San Jose needs to focus on putting housing near existing tech hubs,” Staedler said. “The North First corridor has a lot of untapped housing potential. Having housing near jobs allows for employees to walk and bike to work and reduce car trips.”

[San Jose Mercury News] – Dana Bartholomew

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Commercial Real EstateMixed Use DevelopmentNorth San Jose