Silicon Valley Business Journal
From the article:
City Ventures Inc. is planning 550 residential units on a 14-acre site near Cottle and Monterey roads, marking the latest project aiming to fill in a chunk of the former IBM disk drive factory. The site is among the last blank-slate development areas in San Jose.
The growing Orange County-based home-builder is contemplating 150 for-sale units and 400 rental units, Phil Kerr, a senior vice president for the company, told me. The project hits the company's sweet spot of developing in supply-constrained, coastal infill locations, he said.
"We're big believers in building toward the core," Kerr said. "This particular location is great: It's right on the Blossom Hill Caltrain station, and that Highway 85 corridor has turned into a major jobs hub. There's a lot of demand in that area given the access."
The sizable project is the latest in a upward trajectory for the housing industry. The National Association of Home Builders forceasts 924,000 total housing starts this year, a 18 percent increase from 783,000 in 2012.