Two more mega office projects proposed

CityView Plaza:  Jay Paul Co. announced plans to redevelop one of San Jose’s first redevelopment projects, razing the existing CityView Plaza, erecting three buildings of 19-stories and creating an office park of 3.4 million square feet.

Designed by Gensler, the development on the block bounded by Market and San Fernando streets, Almaden Boulevard and Park Avenue would include five floors of underground parking and ground-level retail.

“The most exciting part of this proposal is that Jay Paul plans to bring CityView back down to the ground level, removing the podium that has defined the site,” said Nate LeBlanc, SJDA business development manager. 

The previously named Park Center Plaza was developed in the 1970s by Lew Wolff.  Jay Paul acquired the 600,000-square-foot plaza in summer 2018.

Davidson Tower:  The owners of the Davidson Building at one of downtown’s gateways have decided to team with Gary Dillabough to plan an office tower of up to 700,000 square feet.  

The Charles Davidson-owned and-built six-story office structure of about 56,000-square-feet at 255 W. Julian St. would be demolished to make way for a taller tower with wide-open floor prints that appeal to tech companies.  Davidson’s partners include Tony Arreola and Mark Lazzarini.

Armory goes to Urban Community:  Gary Dillabough’s Urban Community has purchased the 1933-built San Jose Armory, 240 N. Second St., for $3 million.  The Armory was owned in its early days by the California Army National Guard, which used it to prepare soldiers for World War II.

The acquisition is consistent with Dillabough’s desires to create catalytic places downtown.  His group has interests in the Jose Theater, Bank of Italy Building, Lido Nightclub building, former Camera Cinema building, Museum Place, Valley Title lot in SoFA, Fountain Alley buildings and lot in Historic District, and two other buildings at 227 N. First St. (Moir) and 152 N. Third St. (St. James Plaza) near St. James Park.

AC Hotel bought:  AVR Realty of New York has acquired the AC Hotel by Marriott from Rockbridge Capital for $94.5 million.  Rockbridge opened the 210-room hotel at 350 W. Santa Clara St. in 2017.

The AC Hotel is the fourth downtown hotel to change hands in the last two years.  The Sainte Claire became a Westin property in 2017, the Hyatt Place had a new buyer in 2017 and the Fairmont sold in 2018.

More room to recreate:  San Jose State University’s $130 million Spartan Recreation and Aquatic Center opened April 18 for students to swim, exercise, keep fit and relax.  Features include:  five workout areas totaling 20,000 square feet of cardio and strength equipment; three full-court gyms for basketball, volleyball and badminton; four exercise studios for yoga, spin, strength-training and aerobics; 1/8-mile indoor track; rock wall and bouldering area; 50-meter lap pool; recreation pool with sun deck and barbecue area; and a full schedule of exercise classes.  Gensler designed the 128,000 square-foot center and Hunt Construction served as general contractor.  Check   

135 units for those in need under construction:  First Community Housing broke ground April 19 on the 135-unit North San Pedro Studios project for low-income individuals and chronically homeless veterans and individuals.  Studios and one-bedroom units are available to those earning 30-50 percent of median income, or about $33,000 to $50,000 per year.  The project will set aside permanent supportive housing for 55 homeless vets and 65 other homeless people.  The building should be completed in 2021.

Cohesity grows again:  Cohesity has expanded its RiverPark Towers office space.  Already occupying 99,000 square feet of RiverPark Tower 2, the cloud-based data storage provider added three more floors of the original RiverPark Tower on San Carlos Street.  This is Cohesity’s third expansion at RiverPark Towers since moving from Santa Clara in 2016.  The fast-growing tech company was founded in 2013.

Zoom’s IPO:  Zoom Video Communications, 55 Alma-
den Blvd., celebrated its initial public offering April 17.  The cloud-based video and web conferencing company’s initial stock price of $36 soared to $62 in its NASDAQ debut April 18.