{"id":1004531690,"date":"2021-05-14T21:37:03","date_gmt":"2021-05-15T05:37:03","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004531690"},"modified":"2022-12-08T16:28:27","modified_gmt":"2022-12-09T00:28:27","slug":"cypress-equities-life-time-to-build-mixed-use-asset-in-san-jose","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cypress-equities-life-time-to-build-mixed-use-asset-in-san-jose\/","title":{"rendered":"Cypress Equities, Life Time to Build Mixed-Use Asset in San Jose"},"content":{"rendered":"\n<p>Cypress Equities and Life Time Athletic have announced plans for a mixed-use development in San Jose\u2019s West Valley.<\/p>\n\n\n\n<p>The project will comprise two buildings: The Boulevard, a Class A office project, and a Life Time athletic resort, totaling just over 400,000 square feet of new construction. Developers have received full approvals from the City of San Jose and expect to break ground in the fourth quarter. Project completion is estimated in late 2023.<\/p>\n\n\n\n<hr class=\"wp-block-separator\" \/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/top-5-office-projects-under-construction-in-california\/\">Top 5 Office Projects Under Construction in California<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator\" \/>\n\n\n\n<p>CBRE Senior Vice Presidents Shane McNulty and Mike Grado will handle marketing and leasing efforts for The Boulevard. Developers hired HKS for architectural services.<\/p>\n\n\n\n<p>The Boulevard will total 284,000 square feet of office space and is designed to meet LEED Silver standards. Developers opted for a wellness-focused design, set to include open atriums, break-out balconies, outdoor living rooms, an event space on the rooftop deck and a half-acre outdoor meeting and dining area. The building is also set to feature on-site storm water management and a bio-retention system. A 16,000-square-foot retail component and a 1,200-stall parking garage will also be included.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004531695\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cypress-equities-life-time-to-build-mixed-use-asset-in-san-jose\/the-boulevard-rendering-courtesy-of-cbre\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/The-Boulevard.-Rendering-courtesy-of-CBRE.jpg\" data-orig-size=\"1480,1110\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"The-Boulevard.-Rendering-courtesy-of-CBRE\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/The-Boulevard.-Rendering-courtesy-of-CBRE.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/The-Boulevard.-Rendering-courtesy-of-CBRE.jpg?w=696\" alt=\"\" class=\"wp-image-1004531695\" width=\"1024\" height=\"768\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/The-Boulevard.-Rendering-courtesy-of-CBRE.jpg 1480w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/The-Boulevard.-Rendering-courtesy-of-CBRE.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/The-Boulevard.-Rendering-courtesy-of-CBRE.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/The-Boulevard.-Rendering-courtesy-of-CBRE.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>The Boulevard.&nbsp;<em>Rendering courtesy of CBRE<\/em><br><\/figcaption><\/figure><\/div>\n\n\n\n<p>The Life Time athletic resort will be a three-story, 120,000-square-foot facility adjacent to the office building. It will include studios and a fitness floor, as well as outdoor fitness areas and a rooftop pool. In addition, the resort will feature a spa, a caf\u00e9, and a Kids Academy.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Stevens Creek Urban Village<\/h2>\n\n\n\n<p>The Boulevard will be located at the corner of Stevens Creek Boulevard and Saratoga Avenue. The City of San Jose has designated the southern side of Stevens Creek\u2014between Lawrence Expressway to the west and Winchester Boulevard to the east\u2014as the \u2018Stevens Creek Urban Village\u2019 development plan, adopted in 2017 to provide guidelines and guidance for the area\u2019s growth. The official document calls for a transition to \u201ca mixed-use and pedestrian-oriented place that supports and creates a safe environment for all modes of travel, a thriving commercial corridor, and public gathering places.\u201d<\/p>\n\n\n\n<p>Cypress Equities owns the properties associated with 3086 Stevens Creek Blvd., according to CommercialEdge, where it will develop the mixed-use project. The site\u2019s location provides access to several shopping, dining and entertainment destinations within walking distance. Downtown San Jose is approximately 7 miles away.<\/p>\n\n\n\n<p>\u201cThe development will provide pedestrian friendly ground-floor retail space, new 30-foot-wide landscaped sidewalks and secured bike storage,\u201d said Cypress Equities CEO Chris Maguire, in a prepared statement.<\/p>\n\n\n\n<p>In a recent report, CBRE identified San Jose as a top city for office development opportunities, among 50 other U.S. markets, based on construction costs, strength of existing supply, prior performance and forecast. The <a href=\"https:\/\/www.commercialsearch.com\/news\/tech-sector-leads-the-way-back-to-the-office\/\">return to the office<\/a> will most likely be led by the tech sector, benefiting office markets that are anchored by tech firms.<\/p>\n\n\n\n<p>The Bay Area office market reached a total vacancy of 19.3 percent as of March, the latest CommercialEdge report shows. There were more than 4 million square feet of office space under construction in the Bay Area as of the first quarter, the same report shows. One of the largest projects currently underway in San Jose is <a href=\"https:\/\/www.commercialsearch.com\/news\/adobe-breaks-ground-on-its-north-tower-in-san-jose\/\">Adobe North Tower<\/a>, slated for completion next year and totaling 700,000 square feet of office space.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The project will include office space, ground-floor retail and a Life Time athletic resort.<\/p>\n","protected":false},"author":1284,"featured_media":1004535791,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21752,21742,36079,15],"tags":[32789,34564,34927,34796],"class_list":["post-1004531690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-mixed-use","category-latest","category-san-jose","category-west","tag-cbre","tag-cypress-equities","tag-hks","tag-life-time-fitness"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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