SAN JOSE — A San Jose housing development a short distance from Santana Row and Westfield Valley Fair that would include well over 100 apartments within a pair of slender residential towers faces key public scrutiny this month.
The 135-unit project proposed by real estate firm VCI Cos. is being pitched for an L-shaped site at 826 North Winchester Blvd. that is currently occupied by a graffiti-marred office building where a fire previously broke out.
The housing development would consist of a 17-story building with two towers connected by a bridge, documents on file with San Jose city planners show. About 15,000 square feet of commercial space is also planned for the project’s ground floor, according to the proposal.
During a Zoom conference call scheduled for 6 p.m. on Dec. 16, San Jose officials will be seeking public input regarding two outcomes that the project developer is pursuing – a general plan amendment and a specific development permit for the proposal.
The property, which neighbors consider to be blighted, has been bought, seized through foreclosure, bought by a new owner, and then seized through foreclosure again in June, before the most recent purchase.
The property’s owner is an affiliate linked to San Jose-based Valuable Real Estate Development, which does business as Anjin Capital, according to the LinkedIn page of the company’s chief executive officer, Tianxing Wang.
The most recent price for the site, $6.54 million, was 39% below the prior purchase price less than two years ago, Santa Clara County real estate records show.