SAN JOSE – A large mixed-use development in east San Jose that would include nearly 800 homes has taken an important step forward with the purchase of some of the land needed for the ambitious project.
The Sunset Project would be located on and near 2101 Alum Rock Ave., according to the City of San Jose. between Castlecrest Drive and Jose Figueres Avenue.
As part of its efforts to develop the project, Sunnyvale-based SiliconSage Builders, through a subsidiary, bought three of the plots the company needed for mixed-use development. This is shown by the Santa Clara County’s real estate records filed on October 15.
According to the district, the parcels just bought cover a total of 2.5 hectares. The project is expected to require 11.4 hectares, city planning files show.
SiliconSage Builders paid $ 9 million through its subsidiary 2101 Alum Rock for the 2.5 hectares. Sanjeev Acharya, President of SiliconSage, is listed as the chief executive of the purchasing company. The seller was a trust run by Charles Johnisee.
The remaining properties required for the development have not yet been sold to SiliconSage. Four different companies or individuals own the four remaining packages on site.
The proposed project would require the demolition of all existing buildings on the 11 hectares, city planning documents show.
SiliconSage has proposed a development that, according to the city administration, should consist of a quartet of buildings.
“The four buildings together would have up to 796 residential units,” says the city’s files. The project would also include a total of 30,000 square meters of retail and restaurant space.
In the context of the expected development that runs through the decision-making process of the city, a lot of freedom is taken into account.
“The project provides for a public park of around 21,780 square meters,” says the city’s files.