SAN JOSE — The conclusion of a court docket case is poised to propel a quest by a strong transit company to seize a chief property wanted for a proposed BART station in downtown San Jose.
Transit officers went to court docket, a case that included a jury trial, to grab possession of a constructing on a key downtown San Jose parcel with addresses starting from 41 by 55 West Santa Clara Avenue.
Downtown San Jose BART station entrance, West Santa Clara Avenue between North First Avenue and North Market Avenue, idea. (Foster + Companions)
The parcel is required to run BART by town’s downtown district, in accordance with the Santa Clara Valley Transportation Authority, which states the parcel is crucial to the event of a future BART station.
In September 2024, a jury reached a verdict that the property was valued at $10.3 million in a case that pitted the VTA towards an affiliate of legendary San Jose-based actual property agency Inexperienced Valley Corp..
A Inexperienced Valley appraiser estimated the property was price about $17.4 million. A VTA appraiser estimated the location was price $8.9 million, court docket papers present.
After the jury rendered its verdict and a Santa Clara County decide formally confirmed the panel’s determination, Inexperienced Valley sought a brand new trial within the case.
In January 2025, Santa Clara County Superior Courtroom Decide Socrates Manoukian denied Inexperienced Valley’s request for a brand new trial.
One of many subsequent main steps is predicted to contain the VTA’s formal buy of the property, thereby ending the eminent area continuing to sentence and seize the location.
Along with the core $10.3 million value for the property, Inexperienced Valley additionally was awarded an extra $53,000 for enhancements that had been made on the property, court docket data present.
A Chase Financial institution department and, by happenstance, a VTA workplace each as soon as operated on the website. The property grew to become utterly vacant a number of years in the past.
In 2018, an affiliate of actual property funding agency Elevate Companions paid an area household $3.75 million for the location. In 2020, Inexperienced Valley paid $4.1 million for the location.
The East Santa Clara Avenue constructing that was the bone of competition within the court docket case is the place the doorway of the Downtown San Jose BART station is predicted to be situated.
The BART mission, nonetheless, has been haunted by a collection of delays and value overruns which have steadily ratcheted up the estimated value for the BART extension into downtown San Jose.
VTA officers say BART service into downtown San Jose that additionally reaches the Diridon prepare station on the western edges of town’s city core would spur transit efforts and gasoline financial exercise within the South Bay and the Bay Space usually.
“Completion of the project will finally ‘ring the Bay’ with frequent rail service,” the VTA stated in an internet publish.
Initially Printed: February 13, 2025 at 8:05 AM PST
