San Jose project with hundreds of homes advances with real estate deal

SAN JOSE A big housing progress in San Jose with hundreds of apartments and townhomes is pushing forward following a veteran residential builder s purchase of the property needed for the project SummerHill Homes acting through an affiliate paid million for the property where the housing is slated to sprout according to documents filed on April with the Santa Clara County Recorder s Office The progress site is at Baypointe Parkway and would replace a one-story office and research building totaling square feet San Jose planning documents show Comerica Bank provided SummerHill Homes with a construction loan of million according to the county property files JT Associates sold the -acre site to the SummerHill affiliate The building was empty in early May a direct observation of the project site by this news organzation shows SummerHill plans to develop a seven-story apartment building with units on a portion of the site Nearby on the site SummerHill has also won approval to develop three-story townhomes the San Jose planning files show The apartment building will have a full range of indoor and outdoor recreational amenities including a pool and spa on a resort-style landscaped podium courtyard rooftop decks a clubroom and a fitness studio SummerHill Homes stated in a project narrative it provided to city functionaries SummerHill believes the project will benefit the area where the growth would be built The redevelopment of this industrial site with high-quality residential will enhance the neighborhood and be more compatible with the surrounding residential uses SummerHill stated A timeframe for demolition and new advance wasn t forthwith known The site is situated ideally for professionals seeking a home adjacent to large employers in the north San Jose area and will provide access to scarce for-sale housing as well as new Class A apartment residences SummerHill stated