Home News Downtown San Jose housing tower is still eyed despite VTA seizure plan

Downtown San Jose housing tower is still eyed despite VTA seizure plan

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San Jose — Despite the legal quest for the Santa Clara Valley Transportation Authority to occupy the site, downtown San Jose residential skyscrapers are still actively planned, developers say.

Roygbiv Real Estate Development plans to build a 26-story residential tower called the Eterna Tower, E. There are 200 homes in two compartments on 17-31 of Santa Clara St. The unit is expected to include dozens of affordable homes.

VTA seeks to take ownership of the parcels as part of a huge project to extend BART to the Little Portugal area of ​​San Jose, downtown San Jose, and Diridon Station using a process called land expropriation.

Loida Kirkley, Principal Executive of Roygbiv Real Estate Development, said, “I disagree with VTA’s conclusion that land expropriation must be submitted” for the properties required for the tower.

The company’s legal team has already negotiated and discussed with VTA regarding the project site.

Affiliates led by Kirkley own one parcel that VTA is trying to seize at the location, E. Santa Clara St with addresses 17 and 25. In 2020, Roygbiv Real Estate Development paid $ 3.4 million to buy the property.

The adjacent parcels are owned by a group operated as ZHanna LLC with addresses 29 and 31 E. Santa Clara St. The individual Lars Fuller is the existing mortgage provider for the property.

Kirkley’s group also proposed the development of a residential tower, just around the corner of North Second Street, to provide affordable housing for the elderly.

Transport officials said in court documents that parcels, along with downtown and other assets east of downtown, are an important place the authorities need for BART expansion.

“VTA seeks to acquire assets for the development, construction, operation and maintenance of VTA’s BART Silicon Valley Phase 2 project,” the agency filed with a court relating to land expropriation on East Santa Clara Street. I mentioned in the paperwork.

VTA claims that the expansion itself is an important link in the expansion of BART across the region.

By 2040, VTA estimates that an estimated 54,600 people will be on the extension section.

In an April 2022 report, DCI engineers evaluated the possibility of building a residential tower next to the entrance to downtown San Jose BART on East Santa Clara Street.

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