City Approves $90-Mil Office Tower

SAN JOSE, CA-A 21-story office building at the corner of San Fernando and First streets was approved by the city this week. The $90 million project is to include more than 325,00 sf of office space, 16,600 sf of ground floor retail space and more than 603 parking spaces. Kimball and Small Properties is the landowner and developer.

According to the Downtown Development division of the San Jose Redevelopment Agency, site development permits have been granted and Kimball and Small Properties will now submit building construction documents in an effort to get the building permits necessary to begin the project.

“Our development agreement with Kimball and Small includes the building of quality office space and retail space,” says Steve Duran, program manager, Downtown Development, San Jose Redevelopment Agency. “We sold them the property at fair market value and have not committed any funds to the project and have no financial interest in the project.”