Tamien Station Joint Development
VTA has partnered with a developer, UrbanCo-Tamien LLC, a partnership between CORE Development and Republic Urban, to develop 6.96 acres of property located near the Tamien VTA Light Rail and Caltrain stations. This site is east of Highway 87, between the Willow Glen and Alma neighborhoods, about 10 blocks from downtown San Jose. UrbanCo-Tamien LLC will build both a 440 unit residential community on the east side of the property in addition to parking for VTA and Caltrain customers onsite.The zoning permits the residential development to construct up to 440 units of multifamily housing, and 3,000 square feet of commercial retail space. Per VTA’s Joint Development Policy, the residential component of this development will be required to contain a minimum of 20% of residential units that are affordable to low income households (earning 60% or less of Area Median Income “AMI”) with half of those units affordable to very low or extremely low income households (earning 50% AMI or lower).
Community MeetingOn November 15, 2017 VTA provided a project update, introduced the Development team, UrbanCo-Tamien LLC, and shared next steps and what to expect going forward, including how community members can help shape this future development. Thank you for attending! The presentation provided by VTA and UrbanCo-Tamien's are available by selecting the following link, Tamien Development Presentation.
BackgroundVTA’s Joint Development Program works with municipal and private partners to encourage the development of housing, retail, and employment centers in places that will help increase transit ridership and contribute to a vibrant community. Among VTA’s Joint Development requirements is that 20% of housing on a particular site must be affordable.
Project Schedule and DetailsExclusive Negotiation Agreement Fall 2017
Joint Development Agreement Mid 2018
Ground Lease Agreement Mid 2018
Residential Construction 2019-2020
Final Initial Study / Mitigated Negative Declaration (IS/MND)