Silicon Valley Transit Authority Secures 1 Acre: In a strategic move to support critical transit infrastructure, the Santa Clara Valley Transportation Authority (VTA) has acquired a 1.12-acre property in San Jose, effectively halting plans for a 20-story apartment tower known as Apollo. The purchased parcels, located at 32 and 60 Stockton Avenue, were bought for $23.8 million, marking a 58% increase over their previous transactions in 2021 and 2022.
The property was initially slated for the Apollo project, a 471-unit residential tower with retail spaces. The sale was orchestrated by Urban Catalyst, in collaboration with the city and other partner agencies. Despite initial plans to develop Apollo, Urban Catalyst worked with local government and transit agencies to find a solution that aligns with broader transit goals.
The parcels, formerly owned by the Thang Do and Chunhong Liu Revocable Trust, were part of the California High-Speed Rail Authority’s designated right-of-way parcels for the state’s high-speed rail project. The authority aims to link Silicon Valley with the Central Valley, passing through key locations such as Santa Clara, San Jose’s Diridon Station (in proximity to the Apollo site), Gilroy, Merced, and Fresno.
The recent sale, approved by the San Jose City Council in October, plays a pivotal role in facilitating the high-speed rail and Diridon Station projects. The Apollo site is crucial for the development of the rail infrastructure, and the VTA’s acquisition ensures smooth progress without potential cost increases associated with constructing the residential tower.
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The Diridon Station, set to become the West Coast’s Grand Central, is a central hub for various transit services, including Amtrak, BART, Caltrain, and high-speed rail. The city’s Diridon Station Area Plan envisions substantial development, including housing, offices, and commercial spaces.
While the sale of the Apollo site may have put a pause on the residential tower project, it aligns with the broader vision for comprehensive transit development in the region. The strategic acquisition by the VTA underscores the importance of prioritizing critical transit infrastructure over individual development projects to meet long-term transit goals in Silicon Valley.
Our Reader’s Queries
How much will the BART extension cost?
During a recent Board workshop, it was announced that the final six-mile extension of BART Silicon Valley has undergone updates on its cost, funding, and schedule. The project is now estimated to cost $12.2 billion, which is an increase from last year’s $9.3 billion. Unfortunately, the start of revenue service has been pushed out from 2033 to 2036.
Where is Bart expansion?
BART is committed to revitalizing every corner of the region, from the picturesque North Concord hills to the bustling tunnels of downtown San Francisco. As part of this effort, BART is currently in the process of designing a new infill station in the Irvington district of Fremont. Our goal is to enhance the accessibility and convenience of public transportation for residents and visitors alike. Stay tuned for updates on this exciting project!