Two veteran real estate firms are eyeing a proposal to produce well over 400 homes at an office building site in San Jose in a fresh indication that housing conversion efforts remain of interest to developers. The potential development site is at 3550 North First St. in San Jose, a property that is owned by an affiliate of LBA Realty, Santa Clara County real estate documents show.
All the while, Brownstone has rented beds to a rotating cast of tech startup founders, immigrants and other new-to-the-city characters willing to stay in barely private, 4-foot-tall boxes for $700 a month. And now, CEO James Stallworth is ramping up Brownstone's ambitions. He told SFGATE on Wednesday that the startup is close to leasing a new space not far from Mint Plaza, big enough for 100 pods.
Project developer Jay Paul Co. and broker Newmark, a commercial real estate firm, believe Cityview is one of downtown San Jose's best locations. There is nothing else like Cityview in downtown San Jose, said Phil Mahoney, a Newmark executive vice chairman. This is an entirely new, mixed-use project on 11 acres at the center of downtown. Real estate executives are hopeful because project developer Jay Paul Co. is bolstered by a long track record of success in the Bay Area.