Downtown Development Update- Which Projects Are Moving Forward Amidst Covid 19?

June 16, 2020

Downtown Development Update- Which Projects Are Moving Forward Amidst Covid 19?

Adobe’s fourth tower – Adobe is taking advantage of quieter streets to pour concrete for the foundation along San Fernando Street.

-Miro by Bayview Development Group – Two 28-story towers combine for 630 new residences, 15,000 square feet of retail space and 10,000 square feet of offices. Suffolk Construction thinks it can finish by March 2021.

-The Grad by AMCAL and SWENSON – The builders are shooting for completion in time for this fall semester. When finished, The Grad will have 1,039 beds in 260 units and 15,000 square feet of retail.

-200 Park Avenue by Jay Paul Co. – Still in the beginning excavation process after breaking ground just prior to the pandemic, 200 Park Ave. will grow to more than 800,000 square feet of office with four floors of parking underground plus 19 stories above ground.

-Jay Paul Co. expands CityView Plaza holdings: Jay Paul Co. completed another key purchase on the CityView Plaza block by acquiring the Wells Fargo building at 121 S. Market St. on April 23 for $42 million. The acquisition means Jay Paul is one step closer to starting its massive project bounded by San Fernando and Market streets, Almaden Boulevard and Park Avenue to build a 3.4 million square-foot complex with three office towers. Plans call for Jay Paul Co. to raze the existing CityView Plaza plus Wells Fargo building to make way for redevelopment. The only parcel on the block not owned by Jay Paul is the building at San Fernando and Almaden from which MIX 106.5 FM and K-Bay 94.5 FM broadcast.

-Modera, by Mill Creek, 28 M. Almaden Ave., 201 units, where a passageway has formed to San Pedro Street. Workers are putting finishing touches on some units as tenants move into others.

-North San Pedro area projects, including 135-unit San Pedro Studios by First Community Housing at Bassett and Terraine streets, pushing toward June 2021 completion; and the five-story San Pedro Square Apartments at 195 W. Julian St., which builder Johnstone Moyer said could be ready by February 2021.

Not back:

Boston Properties’ Platform 16, 440 W. Julian St., off Autumn Park- way across from the Guadalupe River has been halted.

Excavation was under way for this 1.2 million square-foot office project of three different six-story buildings. In a reported call with investors, Boston Properties has stopped work on the buildings due to the Covid-19 pandemic, and instead of building speculatively, it now seeks a tenant pre-lease before moving forward.

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