Acquity Realty Plans Mid-Rise MF Near San Jose’s Convention Center

Acquity Realty recently acquired land at the southeast corner of South Market and Balbach streets near San Jose’s convention center. The company hopes to develop a mid-rise apartment property with 130 units and ground-floor retail.

The site at 477 S. Market St. is located in a part of the city nicknamed SoFA, an area known for its arts, entertainment, restaurant, and nightlife. Currently, the site is occupied by Tate Family Complete Auto Care, which sells Firestone tires. To that end, Acquity Realty is calling its project The Firestone, according to firm’s principal John Pringle.

“There is a lot of demand for residential, and we really like this location,” Pringle said.

Acquity Realty paid $6.5 million for the property, according to Santa Clara County public records. It is actively seeking construction financing for the project, and hopes to break ground before mid-year. If all goes as planned, the first residences would be available by the end of 2020.

For questions, comments or concerns, please contact Jennifer Duell Popovec