Airport Towers was a 6-acre site with an existing single-story R&D building located just East of the San Jose Mineta International Airport in the North San Jose submarket. Foster Enterprises had acquired the site several years earlier in a 1031-exchange and had since decided to redevelop the site into high density housing.
Over a two-year period the site was fully designed and entitled for two condominium towers totaling 528 units plus ground floor townhome units. The complex entitlement process, which resulted in a unanimous favorable City Council vote involved achieving a General Plan Text Amendment for the increased height. In addition, the project was required to go before the Santa Clara County Airport Land Use Commission and eventually received approval through the Federal Aviation Administration’s “Determination of No Hazard” process.
The fully approved and entitled project was sold prior to groundbreaking.