Project: 46 Apartments & 5,000 sq.ft. commercial @ 1495 Winchester Blvd San Jose

Overview

Lot Size
21456 sqft
Square Feet
56644 sqft
1495 Winchester is located in the heart of the recently adopted South Winchester Urban Village in the city of San Jose. The large corner parcel is currently utilized to operate a commercial business, but due to the newly adopted village plan, is zoned for up to 95 units per acre. The site is located just Northeast of downtown Campbell and 1.5 miles South of Santana Row. The proposed project will be a four-story mixed-use building of roughly 57,000 square feet with subterranean parking, roughly 10,000 square feet of ground floor retail, plus 46 one, two and three bedroom apartments above.

The ground floor retail space will benefit from a large pocket of high density housing directly surrounding the property’s location. Furthermore, rental rates and occupancy are incredibly strong in the submarket due to its central South Bay location and access to top tier schools. The city of San Jose is promoting development along this stretch of the Winchester Blvd. arterial, which we expect to bring long term value appreciation to the immediate area.

We have initiated the review process with the city in order to submit final plans for entitlements, and we are projecting to entitle, construct and finally stabilize the asset by June of 2021.



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This project is fully submitted and complete. We are waiting on the city staff to schedule us for the planning commission public hearing.
 

We submitted the final set of plans to the City of San Jose. Now we are waiting on them to schedule us for the Planning Commission and Public Hearing.


We completed  photo simulations of the final design of the building. THese will be used for both CEQA and Planning Department purpose as we prepare for Planning Commission and public hearing. 


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Architect has completed incorporating Renderings and TDM plans into submittal set for the final review of City Planning Staff and to be sent to Planning Commission and City Council Agenda. It will be submitted early next week and we will work with City to get it on agenda ASAP.


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We updated the design to change few elements on the exterior of the building. We also added providing a ride share spot on thep property for a service like GetAround and also shared bike service e.g. Lime. We have support from City of San Jose Staff as well as from Vice Mayor's / Council Member. 


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We are working to satisfy the City Council Member and Vice Mayor's concern of addressing traffic congestion issues. We have reached out to rideshare programs - Lime to incorporate bike sharing and GetAround to provide a parking spot for car share services. 


Met with Vice Mayor's staff in order to receive their support in the upcoming City Council meeting. Agreed to making two minor exterior facade enhancements to improve the aesthetics based on their feedback.

We now have support from the Council Member on the Traffic Demand Management (TDM) plan.


We  have been working with the vice mayor's office to get the support for the project in its current state. Also the City Staff is wrapping up the review of environmental report that was submitted. We are trying to be on schedule for August.

 


In response to our 4 story revision that we had submitted to city a few weeks ago, we have recieved all clear from Public works. There are a few clarifications and comments on the elevation we recieved and we are working on making those changes and re-submit by next week.


We completed our analysis and intelligence on the possibility of adding a residential floor and therefore more apartments, however we believe this would cause an year of schedule slip and bring lot more uncertainity to the project. Hence we are going forward with the existing project of 46 apartments and 1 story of retail with 1 story of underground parking. 

The project is submitted to the city and we are waiting on unofficial support from the city council member's office for the project as it is.


We worked with our council member's office to explore the possibility of adding more apartments on the project by adding a floor back to the property. This will increase the profitability of the project. 


We worked with our architect to add 4 more parking spots to the plan in order to get closer to City of San Jose's demand to improve our TDM plan. We are submitting those changes to city today. We are also working on getting support for our TDM plan from our City Council Member ahead of the Planning Commission and City Council meetings.


Yesterday, we  submitted the plans to the City of San Jose for the revised project with no office floor and elimination of 1.5 floors of underground parking. 

We are negotiating with city on their demand to provide subsidized public transit passes by offering to create 3-4 more parking spots.

 


We are workin with our consultants to submit the revised plan to all the various agencies in the City of San Jose. We are pushing hard and hope to be able to submit next week.


We have reviewed the revised project with the City of San Jose Planning Department and have support from them for the new project. We are targeting a formal submission to all government departments  within next 2 weeks.

 


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The team is working on the revised submital set for the new building design. We expect to finalize the plan and re-submit in 3 weeks.

As a reminder, in the revised plans, there will be elimination of the earlier required office space, as well as the associated parking. This will cut down 1.5 stories of underground parking. Due to this change, project will be delayed by roughly 6 months. However, in our judgment it is the right thing to do because it cuts down the construction cost, and timeline significantly. Also, it eliminates the risk associated with renting out office spaces. The office space included about 12,000sqft. Eliminating 12,000sqft will bring out commercial square fotage to approximately 8,000sqft, or 60% lower than our previous plan.The residentials units will remain three stories bringing the total building to 1 retail/active use commercial space with 3 levels, 46 units, of apartment above. 


We are planning to re-submit the project with elimination of the earlier required office space, as well as the associated parking. This will cut down 1.5 stories of underground parking. Due to this change, project will be delayed by roughly 6 months. However, in our judgment it is the right thing to do because it cuts down the construction cost, and timeline significantly. Also, it eliminates the risk associated with renting out office spaces. We are increasing the sq ft of residential units from approx. 650 sq. ft. per unit to approx. 950 sq. ft. per unit. This will increase the overall rent and the profile of property significantly.
 

We are submitting to City of San Jose for the 4th round of Planning/Review sign off on Monday. We also wanted to let you know that there has been a major change in City of San Jose's Winchester Urban Village Plan which could result in significant cost savings. There is a chance that we can eliminate the entire office floor and associated 60 parking spots or so and hence not just reducing the construction cost but also reducing the pressure to rent out the commercial office spaces. We will keep you posted!


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We  are currently on course for Planning Commission hearing in June. In order for that we are submitting 4th round for final sign off from all agencies. We are starting structural engineering and bid out process for construction.


We are working on parallel tracks in order to get to Planning Commission. Environmental clearance is required and we are working on turning around the last draft prior to public circulation period. In addition, we are working to incorporate any remaining feedback from Public Works or Planning prior to the hearing to ensure we are going in with full staff support.


Our community hearing was this past week and overall went well. This is the first milestone in being heard at Planning Commission. We are currently working to incorporate small pieces of feedback from the community and working to get Environmental approval in order to be put on the Commission agenda. 


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On Winchester, we have received our final round of feedback as it relates to the planning process.  We will be working over the coming weeks to incorporate the planning departments recomendations so as to put us in the strongest position possible heading into our community meeting (March 4), as well as planning commission and city council hearings.


We are now on what we hope to be our final round of feedback from the San Jose Planning Department. We will be hosting our official Community Meeting in early March and will quickly after that be heard at Planning Commission. Once we have Planning Commission approval, we will be put on the agenda for City Council.


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We have submitted our second round submission to the city based on the feedback we received from our first submission.  We are going back out for hard bids based on revised construction numbers and optimizing the building design.  We still have a ways to go before reaching planning commission meeting and public hearing.


The environmental review is making progress with the City of San Jose and we are currently exploring the most efficient parking design. We are working to complete the analysis prior to re-submitting to the City of San Jose.


We have received the first round of feedback from Planning. The largest items are related to setbacks and parking requirements. We are working with our consultants to address all items and will be submitting back to Planning by the end of the month.


Last week, we received comments back from the City of San Jose. We have a meeting set with Planning Staff for next Thursday in order to discuss our project design in order for our design team to have the best understanding of what City of San Jose is looking for in our next round of submissions. In the meantime, we are working to finalize our design development consultants and selection of general contractor. 


Location