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Old Yesterday, 09:52 PM   #15921
Dirk_Birkin
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Quote:
Originally Posted by Xynoplas View Post
Thanks!
I guess time will tell if "renovation" means minor upgrades or turning the property upside down...
no problem, helps me feel like i'm getting my money's worth on that ridiculous subscription fee.

the buyer got a really good price considering the building is fully leased on both the residential and commercial sides. 1.5M isn't going to turn the property upside down. the complex is almost 20 years old and needing a refresh of the common spaces to stay competitive with the new stock coming online in the area. paint/carpet the interior common space, re-seal the parking lot, put a new roof on and that money is more than gone.
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Old Yesterday, 10:00 PM   #15922
rickupton
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Originally Posted by Xynoplas View Post
Does anyone here have a BJ subscription and would be willing to share what the hell is going on here? Is this Miraido there are talking about? Thanks!

https://www.bizjournals.com/sanjose/...japantown.html

Apartment and retail site in San Jose's Japantown sells in off-market deal
The property has more than 100 units and 12,000 square feet of retail space split between five retailers and restaurants north of the city's downtown.
The article talks about the sale of Miraido from Japantown Development to Miraido Village LLC, and how the sale wasn't just about getting the highest bidder, but also about getting a buyer that would respect the Japanese character of the development.
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Old Yesterday, 11:27 PM   #15923
Sharkcity
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Originally Posted by cardinal2007 View Post
With 26k sqft of commercial it does seem to be addressing my concerns about losing commercial space when doing mixed use conversions. Granted without seeing the original sqft of the 3 commercial buildings I can't say for sure.
I asked about this at the community meeting. The urban Village designation requires .5 commercial FAR before building any dwelling units. The project would include the entire street frontage from Stockton to Coterie. Kyle from Coterie was actually at the meeting and interested in the project's enhancement of the neighborhood but not looking for expansion space.
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Old Yesterday, 11:36 PM   #15924
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http://www.mercurynews.com/2017/10/1...e-development/

Ugh
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Old Yesterday, 11:45 PM   #15925
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Gotta love that he doesn't even live in SJ and wants to tell the city what to do.
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Last edited by robertee; Today at 01:59 AM.
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Old Today, 12:20 AM   #15926
cardinal2007
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Swenson buys two small lots in the Mitchell block. Where Gotta Eatta Pita, the hooka shop, and Backayard are.

https://www.bizjournals.com/sanjose/...670&j=79011331
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Old Today, 01:13 AM   #15927
Dirk_Birkin
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Originally Posted by cardinal2007 View Post
Swenson buys two small lots in the Mitchell block. Where Gotta Eatta Pita, the hooka shop, and Backayard are.

https://www.bizjournals.com/sanjose/...670&j=79011331
Quote:
The group paid $2.9 million for the two historic, brick buildings in a deal that closed late last week. The seller was the Patel Family Trust.
there's a lot concerning about this, but i bolded the most concerning word in the article. the only building on the block with enough historical character to be preserved would be the SJ building and loan association building, and it should probably get moved to another location unless it's re-purposed as the main station entrance. there may be several structures of merrit, but that's the only one worth saving. if we begin using this term now it's going to push this critical parcel's development years further down the road once PACSJ digs in.

when the mitchell block finally gets developed, it should be done as one cohesive parcel. the developer to complete the project should NOT be barry swenson. that company lacks the vision to create a signature development in the center of this city. the block has space for several million square feet of office, tons of retail, and 600-800 residential units, think 3 or 4 buildings the size of wolf/dinapoli's adobe expansion tower along with anothe sjsc tower complex sitting atop the retail equivalent of the pavilion. that's what this block needs. swenson would probably rather just plop down another 5 or 6 story barry box similar to what they've built in the lincoln/san carlos/race/meridian areas and call it a day. or they'll hold the parcel hostage like they have in the past and wait for someone to completely overpay them for it.

once bart is well underway in the area, vta needs to hold a competition similar to what the city did with saint james park for this block. that is the only way to do this parcel right.
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Old Today, 02:11 AM   #15928
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Quote:
Originally Posted by Dirk_Birkin View Post
when the mitchell block finally gets developed, it should be done as one cohesive parcel. the developer to complete the project should NOT be barry swenson [...] swenson would probably rather just plop down another 5 or 6 story barry box similar to what they've built in the lincoln/san carlos/race/meridian areas and call it a day. or they'll hold the parcel hostage like they have in the past and wait for someone to completely overpay them for it.
Swenson will just sit on these properties until the VTA finds a development partner for their part of the Mitchell Block and will then flip them. It's their MO in Downtown now (after they got burned with City Heights).

Quote:
Originally Posted by Dirk_Birkin View Post
that company lacks the vision to create a signature development in the center of this city. the block has space for several million square feet of office, tons of retail, and 600-800 residential units, think 3 or 4 buildings the size of wolf/dinapoli's adobe expansion tower along with anothe sjsc tower complex sitting atop the retail equivalent of the pavilion. that's what this block needs.
This is what was proposed the last time a developer was interested in the Mitchell Block :

Quote:
New York-based Palladium Co. is the private developer now negotiating with the redevelopment agency for the contract to handle the huge revitalization project. It has proposed two office towers, a 350-room hotel, a 20- to 25-story condominium tower, and a high-rise apartment building of comparable size for the Mitchell Block alone.

https://www.bizjournals.com/sanjose/...23/story3.html
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Old Today, 02:44 AM   #15929
Dirk_Birkin
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Originally Posted by robertee View Post
This is what was proposed the last time a developer was interested in the Mitchell Block :
that's a good start. although now that a bart station is going to be underneath, the site should be used more for job creation than residential. a lot has changed in 16 years downtown.
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Old Today, 03:30 AM   #15930
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Originally Posted by robertee View Post
Gotta love that he doesn't even live in SJ and wants to tell the city what to do.
This. So many decades of this.
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Old Today, 06:35 AM   #15931
rickupton
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Quote:
Originally Posted by robertee View Post
Gotta love that he doesn't even live in SJ and wants to tell the city what to do.
Although he may not live in San Jose, he may be a stakeholder in another way (e.g. he may work in SJ, own properties in SJ).

I'll certainly put in my online 2 cents about what surrounding cities do when they make decisions that impact San Jose, but I don't expect those cities' politicians to care what I think since they are most concerned about their constituents, donors, etc.
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Old Today, 10:24 AM   #15932
Davodd
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Quote:
Originally Posted by robertee View Post
Gotta love that he doesn't even live in SJ and wants to tell the city what to do.

That “doesn’t even live here” quote makes no sense ... unless you are thinking of SJ as a suburb of SF competing with other South Bay suburbs instead of as an urban center with symbiotic suburbs.
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Old Today, 11:20 AM   #15933
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Quote:
Originally Posted by Davodd View Post
That “doesn’t even live here” quote makes no sense ... unless you are thinking of SJ as a suburb of SF competing with other South Bay suburbs instead of as an urban center with symbiotic suburbs.
I mean, that's a fair enough point to make. Except for the fact that the oped author isn't advocating for San Jose to develop into its role as a true urban center. In fact he seems to be arguing for the exact opposite. Plus, it is odd for them to be taking such a nimby stance when they themselves are not from San Jose.
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