SAN JOSE — A downtown San Jose website of blight the place a pupil housing tower is proposed has been put up on the market, leaving the property’s future up within the air.
The property, positioned at 100 by way of 152 North Fourth Road subsequent to East St. John Road, is being provided on the market. San Jose officers had beforehand accepted a pupil housing mission on the website.
Asking value: $35 million, based on a advertising and marketing flyer that’s now in circulation.
23-story pupil housing mission at 100 North Fourth Road in downtown San Jose, idea. (LPMD Architects)
Fires, a deadly drive-by capturing, and a canine assault have haunted the location, the place a 23-story pupil housing tower has been accepted however has but to interrupt floor.
Now, Saratoga-based enterprise government Brent Lee, who owns the property by way of an affiliate, has begun to scout for a purchaser to buy the one-acre website on the nook of North Fourth Road and East St. John Road.
The property provides the chance for a purchaser to personal a website that’s accepted for a housing highrise, the advertising and marketing supplies state. Marcus & Millichap brokers Kirk Trammell and Joshua Johnson are main the gross sales effort.
The 23-story residential tower would include 298 items of pupil housing and embody 8,400 sq. toes of ground-floor retail areas, paperwork on file with San Jose metropolis planners present.
Metropolis planners even have accepted 4 ranges of parking containing sufficient area for 287 autos and 426 bikes.
Lately, a number of fires wrecked a pair of Victorian houses that have been on the property. Lee had agreed to relocate the outdated homes, however the fires occurred earlier than the transfer may happen.
For a number of months after the blazes, the fire-scorched particles of the Victorians littered the event website.
Metropolis officers swept in to position the property right into a court-ordered receivership with a purpose to clear away the particles and poisonous supplies that have been current on the website, resembling asbestos and lead.
The positioning is now cleared of the particles, has a 24-hour digital camera in place to observe the property, and is fenced off to discourage homeless tenting. Investigators imagine a number of homeless people prompted a few of the fires, together with at the very least one fireplace within the two Victorian homes.
The North Fourth Road fires, which broke out in March 2024 and August 2024, have created critical hazards for individuals dwelling subsequent door and close to the fire-torched websites, based on courtroom papers filed by Jay Huang, the working supervisor of Sunding Brothers LLC, which owns a property subsequent to the blighted vacant tons.
The March 2024 fireplace leveled two deserted Victorian-era houses on the blighted lot, fireplace officers reported. The August fireplace ignited the stacks of wooden and particles left behind from the sooner blaze.
It wasn’t instantly clear whether or not the asking value of $35 million conforms with related empty properties in San Jose.
