Development in the Bay Area has slowed or stalled in the last few weeks, but that hasn’t stopped developers from moving forward.
KT Urban on Monday unveiled plans for nearly 3 acres at 280 Woz Way, which could bring 1.8 million square feet of office and retail space over two 20-story towers near the San Jose Convention Center. The developer has been thinking about development options on the site for months.
Plans for the project include more than 1 million square feet of office space, over 6,000 square feet of retail space and 30,000 square feet of “multi-level outdoor terraces,” the company said.
Despite some economists and city officials predicting a devastating financial blow from being in the area, closing businesses and banning workers to their homes, KT Urban still sees potential in downtown San Jose, said Shawn Milligan, partner at KT Urban
“The confluence of transit infrastructure in San Jose – BART, light rail, rapid bus service, highways – all of which converge in downtown is unprecedented,” he said in a statement Monday.
KT Urban works with a well-known ally, Portland, Oregon-based C2K Architecture, who has designed several projects in downtown San Jose over the past several years. These include the Garden Gate Tower, a 27-story residential project on 600 S. First St. that was approved by the San Jose City Council last year.
The latest project aims to capitalize on the changing dynamics of growing downtown San Jose, Milligan said.
“As the center of downtown San Jose moves south from Santa Clara Street towards Park Avenue and closer to transit options, we see the Woz Way project as a great way to activate that area,” he said.
In fact, major developers have focused on the area, including well-known names like Jay Paul Co. and The Sobrato Organization, who are planning major redevelopments in the area. Meanwhile, developer Urban Community, who has sprung up in San Jose over the past few years, has quickly amassed multi-million dollar plots of land in downtown the city, including locations near KT Urban’s latest project.
1,215 parking spaces in four underground parking levels are planned for the development along Woz Way. KT Urban hopes to drive development sometime in 2021.
Contact Janice Bitters at [email protected] or follow @JaniceBitters on Twitter.