Major enhancement with hundreds of inexpensive households eyed at San Jose retail web site

SAN JOSE — Hundreds of inexpensive households could sprout at a San Jose web page wherever a major retailer is slated to shut its doorways as aspect of a huge-ranging closure of several retailers that the merchant operates.

The job would be created on a internet site in the vicinity of the corner of Camden Avenue and Kooser Highway in San Jose, in accordance to documents on file with the city Organizing Section.

An approximated 253 residences would be developed on the residence at 5407 Camden Ave., in accordance to files that real estate company Valley Oak Companions submitted to San Jose metropolis planners.

“Our preliminary application proposes a 100% inexpensive housing improvement, with a person constructing owning ‘family style’ much larger models and a 2nd building for seniors,” Valley Oaks Partners mentioned in its proposal.

CVS operates a retail retailer on the advancement web-site. CVS Caremark also owns the parcel where by the undertaking would be positioned.

In June 2022, the property’s assessed value was $5.5 million, Santa Clara County community data demonstrate.

The present CVS retail store, which would be bulldozed to crystal clear the land for the housing, is slated to shut, Valley Oak Companions said in its preliminary proposal.

“The residence is in deal to be procured by the applicant,” Valley Oak Associates said in an Aug. 17 letter that the serious estate agency wrote to city officials. The timing of the obtain wasn’t disclosed in the preparing files.

Rhode Island-primarily based CVS unveiled in November 2021 plans to close 900 retailers nationwide starting off this year.

“CVS Overall health will cut down retail store density in selected locations and near close to 300 outlets a 12 months for the up coming three several years,” the retailer mentioned in a organized release at the time it disclosed its strategies to shut the 900 suppliers.

The timing of the CVS retail store shutdown on Camden Avenue wasn’t disclosed in the town files. The CVS shop totals 25,000 sq. toes, according to the metropolis proposal.

The market-amount constructing is anticipated to consist of 150 houses, which includes studios, and a single-, two- and three-bed room flats, the preparing proposal displays.

The senior-oriented housing is slated to involve 103 models, which include a manager’s residence. The senior residences would all be 1-bedroom units.

Every building will include a group area, the organizing files demonstrate. The building with the senior housing will include a health and fitness space.

“The senior portion would be 100% reasonably priced and would not be related with any certified-kind use, this sort of as assisted dwelling or memory treatment,” Valley Oaks Companions mentioned in the software.