Trumark Homes has acquired a land parcel in downtown San Jose with plans for a new community of 78 townhomes adjacent to the popular San Pedro Square Marketplace, the company said Wednesday.
“This prime location has long been underutilized and underdeveloped. We are excited to introduce much-needed new housing to the area and contribute to the revitalization of downtown San Jose,” said Tony Bosowski, division president at Trumark Homes. “This site will be the first for-sale townhome community of its kind in the vicinity, and will be ideally positioned within walking distance to Diridon Station, the SAP Center and the proposed Google transit village.”
Located at the intersection of North San Pedro, Julian and Devine, and Terraine Streets, the nearly 2.5-acre site comprised of three parcels was acquired by a venture between Trumark Homes and IHP Capital Partners. Floor plans for the two- and three-bedroom townhomes will range from approximately 1,200 square feet to 2,000 square feet and feature attached direct-access garages. Residents will enjoy easy walkability to downtown office, retail, restaurants and entertainment, convenient access to public transportation and freeways, and a close commute to the Mineta San Jose International Airport.
“Introducing new housing to downtown San Jose represents a tremendous opportunity for Trumark to positively impact the growing demand for housing at approachable price points in the Bay Area and capitalize on this primary market poised for continued growth,” said Gregg Nelson, Co-Founder and Principal of Trumark. “As the robust selling environment in the San Jose continues, we are confident that this new community will be met with great interest due to its highly desirable downtown location.”
Model homes are slated to open in 2018. This acquisition adds to Trumark Homes’ Bay Area portfolio, which includes actively selling communities Glass Bay in Newark, Perch in Downtown Dublin, and Fielding at Wallis Ranch in Dublin.
