SAN JOSE — A big housing development that would produce 100-plus units near downtown San Jose is slated to get a full-scale public review now that its draft environmental impact report is being circulated.
The proposal envisions the development of 118 units within a seven-story apartment building, plans on file with San Jose planners show.
The housing development site is at 380 North First Street in San Jose, a prominent site near the city’s Japantown and downtown districts.
Msasa Properties, an entity managed by Silicon Valley tech executive Mostafa Aghamiri, has proposed the project.
In 2021, an affiliate of Msasa Properties paid $5.3 million to buy the property, which is at North First Street and Bassett Street, documents on file with Santa Clara County officials show.
The 118-apartment development would also include “18 units affordable to very-low-income, low-income, and moderate-income households,” San Jose officials state on the a city web page.
The site is located in an opportunity zone, which is a geographic area that offers tax advantages to people and companies that invest in properties the owners substantially redevelop.
The proposed project would bulldoze and replace a small office building and a surface parking lot that now occupies the property. The office building totals about 12,000 square feet. The development site totals 0.5 acres.
A 45-day review period for the project began on Oct. 18 and was slated to be completed by Dec. 2, city documents show.
An existing residential development known as Ryland Mews is located across the street at the same intersection.
“This site is perfectly located in the middle of an urban residential neighborhood,” in the view of Erik Schoennauer, a land-use consultant for the owner and developer of the site.
