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Subscriber-only article

Exclusive: Historic downtown San Jose portfolio sells to institutional investor

The deal, valued in total at about $33.5 million, is certainly not the largest sale in recent years in the compact business district. But it is notable because it signals the arrival of a new investor downtown and raises intriguing possibilities about future plans.
http://www.bizjournals.com/sanjose/...town-san-jose-portfolio-sells-to.html?ana=twt

https://twitter.com/SVBizNate/status/766040335755673600

Looks like

1. One building in SoFA next to California Theater
2. Building with forever vacant first floor on the SE corner of 2nd & Santa Clara
3. The old Lincoln Law School building on NW corner of 1st & Santa Clara

#2 and 3 are very underutilized lots, could be a great thing coming
 

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Rick Upton
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the ac hotel looks like a jail building lol ... but nah actually it's not bad, it's all business, I like that... not everything has to be flashy, artsy or innovative, at the end of the day it's just a building, the majority of people won't even think twice about what it looks like, they'll just use it and go in and out.
 

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Go Sharks!!
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the ac hotel looks like a jail building lol ... but nah actually it's not bad, it's all business, I like that... not everything has to be flashy, artsy or innovative, at the end of the day it's just a building, the majority of people won't even think twice about what it looks like, they'll just use it and go in and out.

No. We still need good design in San Jose. Is it better than the Hampton Inn proposal? Yes. Is it as good as the proposed renderings? No. Which means the city failed to hold the implementation of the design to the vision.

Also, the retail frontage will not empty out on to the sidewalk. People can only access it by going through the hotel entrance which faces the driveway.
 

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No. We still need good design in San Jose. Is it better than the Hampton Inn proposal? Yes. Is it as good as the proposed renderings? No. Which means the city failed to hold the implementation of the design to the vision.

Also, the retail frontage will not empty out on to the sidewalk. People can only access it by going through the hotel entrance which faces the driveway.
What part of it is clearly worse than the renderings, if the facade is incomplete?
 

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Retired Mohawk Ironworker
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The potentially good news is that the new owner of One N. 1st Street will eventually demolish the old Lincoln Law School building and build a high rise building in its place being that it will be very close to the future downtown BART Station. Let's hope the new owner will have a new high rise development in place for the grand opening of downtown BART. So, Hip Hip Hurray for this potentially good news.
Hell, given the number of VTA routes within 500' (17, 22, 23, 72, 73, 82, 304, 323, 522, and LRT), having some high rise here would already be a win. BART is the cherry on top.
 

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http://www.siliconbeat.com/2016/08/19/report-tallying-new-apartment-construction-silicon-valley/



And people wonder why rents are so high in Palo Alto where Nimbyism reigns supreme. San Jose continues to be the biggest provider of housing in the South Bay by a wide margin, while our neighboring city of Santa Clara provides a lame 445 units. Shame on all of the cities north of San Jose where its O.K. to build unlimited amounts of commercial office buildings while
neglecting the building of housing units -- there ought to be a law.
We should have just annexed those bastards back in the days. Would have been able to build both offices and housing to our hearts' content, instead of playing this give-and-take game that we now play.

It's ridiculous that we have half of the County's population, yet builds 2/3 of its housing. We need to cut down the housing supply immediately outside of Greater Downtown, and any housing in Greater Downtown needs to go forward with proportionate office/commercial space.

Interesting data on SF. It builds the most number of housing yet has the highest increase of housing prices year by year. Doesn't look like building more housing made SF any affordable. Or maybe we need another year to see how the market absorbs the SF supply. That will be interesting to watch :)
 

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Interesting data on SF. It builds the most number of housing yet has the highest increase of housing prices year by year. Doesn't look like building more housing made SF any affordable. Or maybe we need another year to see how the market absorbs the SF supply. That will be interesting to watch :)
SF's case is that it didn't build enough housing over the last 30ish years, to keep up with residential pressure and the capacity to pay. 9k units is quickly swamped by the population pressure; it's gone from 678k in 1980 to 746k in 1995 to an estimated 864k last year, but new housing units never exceeded 3500/year between 1995 and 2014. At the same time, average incomes have exploded for SF residents, meaning the whole system can reach an even higher boil.

It's ridiculous that we have half of the County's population, yet builds 2/3 of its housing. We need to cut down the housing supply immediately outside of Greater Downtown, and any housing in Greater Downtown needs to go forward with proportionate office/commercial space.
I would instead suggest the city needs to focus on putting units in places that best help the city keep workers within city limits and working with the VTA to radically improve transit for those places. Basically, this means focusing on corridors within the city: 1st/Monterey, San Carlos, Santa Clara/Alum Rock, Winchester, plus a few others. Make it as easy as possible to get to downtown and to SR, focus efforts on getting units along corridors to those places, and limit residential development elsewhere in the city. In this way we can get the units we need, but minimize the benefit to neighboring cities.

To that end, I'd love to see the area around the Capitol Caltrain station radically reimagined as a dense, transit-centric neighborhood, and see LRT run down Monterey to that new hub. BRT would be cheaper, but the goal would be a single seat ride all the way north along N 1st, and using LRT for this would helpfully increase frequency along N 1st.

Also to that end, I'd also love to see LRT and BRT put under a unified brand, with maps only differentiating routes, not modes.
 

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