San Jose Redevelopment
Agency Teams with
Local Developer for Housing on The Alameda
Development will Feature 40 Condominiums, including
Eight Affordable Units
San José, CA ---- The San
Jose Redevelopment Agency (SJRA) today announced that the
Redevelopment Agency Board has approved a Disposition and
Development Agreement (DDA) between the SJRA and Green Valley
Corporation for a housing project in The Alameda Redevelopment
Project Area. The project, to be called the Lofts @ The Alameda,
will feature 40 for-sale condominiums at the corner of at
the corner of The Alameda and Morrison Street.
The complex will feature a four-story building with condominiums
in a two-story stacked loft configuration. Each condominium
will be approximately 1,100 square feet and include parking
in a detached two-story garage with approximately 65 parking
spaces for tenants. Because the project lies within The Alameda
Redevelopment Project Area, eight of the condominiums will
be designated as affordable housing and sold to moderate-income
buyers. An affordability agreement will be executed with covenants
stating that the eight affordable units shall remain in place
for 45 years.
“The Lofts @ The Alameda will add variety and depth to
San Jose’s housing stock,” Susan Shick, Executive
Director of the San Jose Redevelopment Agency, said. “Not
only is it a cutting edge loft design, but the agreement between
the SJRA and Green Valley Corporation also ensures that moderate-income
buyers can afford to purchase a home.”
The project began taking shape in June of 1998, when the SJRA
purchased a 5,700 square foot portion of the site from San
Jose Firefighters Local No. 873. This property, located at
the corner of The Alameda and Morrison Avenue contained a
vacant building that housed the Oak Room restaurant and bar.
Although the property was on a relatively small site, the
intent was to combine the parcel with several underutilized
adjacent parcels to provide a site that could accommodate
a medium size housing development. When the Oak Room building
was demolished, clean dirt fill was installed to a depth of
four feet and a subsequent Phase I environmental report concluded
that there were no contaminants.
The developer for this project, Green Valley Corporation (a
Barry Swenson Company), has had several meetings with neighborhood
representatives regarding the number of units, height of buildings,
architectural design, and other project details. Representatives
from Green Valley also met with the three adjacent single-family
homeowners to discuss the design, massing, and lighting of
the parking garage structure that abuts their properties.
Each owner has been supportive of the project and will be
deeded additional backyard space as a result of the configuration
of the garage on the site.
“From the beginning, the support from the community for
this project has been positive,” Marianne Bacigalupi,
Senior Vice President of Barry Swenson Builders, said. “This
is due in large part to the public outreach efforts of both
the SJRA and Barry Swenson Builders.”
The San Jose Redevelopment Agency is dedicated to improving
the quality of life for all who live and work in San José.
Governed by the City Council, the SJRA facilitates and oversees
comprehensive programs for development to revitalize the City’s
Downtown, neighborhoods, and industrial areas.
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