Joint Venture Project Underway in San Jose’s Midtown After Long Hiatus
Construction on the Silver project began in November marking the first phase of a three phase buildout for a large residential mixed-use high-rise in the Midtown neighborhood of San Jose on the corner of Auzerais Avenue and Sunol Street. Following a lengthy 10-year planning process, developer Green Republic LLLP, a joint venture between SWENSON and Republic Urban Properties, will be holding a ground breaking reception on December 21 at the construction site. Republic Urban Properties, based in San Jose, is part of the Republic Family of Companies.
“I’m a native of San Jose as is the Swenson family,” said Michael Van Every, president and CEO, Republic Urban Properties. “Midtown has always been a live-work, mixed-use area and now it plays a major role in San Jose’s housing future. It’s a very important transit corridor for jobs, housing and retail shopping.”
The property, previously classified as a Brownfield, is 8.25 acres adjacent to Del Monte Park and had been owned by the Valley Transportation Authority and used as a bus lot. In 2006, Green Republic became the developer through an auction Request for Proposals process, but with the Great Recession in 2007, the project was delayed for several years. As the project is located within the Midtown Specific Plan Area, part of the process involved an amendment to the Specific Plan to accommodate the housing, which occurred between 2008 and 2010.
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