SAN JOSE — A “high-end industrial campus” is being eyed at a North San Jose site, a project that is expected to create new jobs in the city’s primary hub for tech companies.
Dubbed Montague Pointe, the project would be developed on a 23.7-acre property bounded by Montague Expressway, Zanker Road, Junction Avenue and East Plumeria Drive, documents on file with city planners show.
McCarthy Development, a Los Gatos-based real estate firm that is floating the proposal, intends to bulldoze five buildings on the site and replace them with three new buildings, according to the proposal.
“Designed as a high-end industrial campus, the facility can support advanced manufacturing, research and development, technology, some warehouse, and office uses,” McCarthy Development stated in project plans.
The three new buildings are slated to total 437,600 square feet. The existing five buildings that would be demolished to clear the way for the project total 422,600 square feet.
“The project includes demolition of existing structures, new site improvements, and comprehensive landscaping,” McCarthy Development stated.
The development team envisions a project that could potentially produce a significant number of jobs, according to the proposal. The project timeline wasn’t immediately known.
“The parking ratio has been carefully planned to support employment-intensive operations, distinguishing it from typical warehouse-only developments,” McCarthy Development states in its proposal. “The architectural design further reinforces the elevated purpose of the facility, with features that reflect its intended high-quality function and user experience.”
The project would be developed in a section of North San Jose where some office buildings have lost value or have been foreclosed. Some companies, such as flying vehicle maker Archer Aviation, have inked deals to lease foreclosed buildings.
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