SJDRA Quarterly Meeting Tonight at The 88!

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The San Jose Downtown Residents Association (SJDRA) will be holding its quarterly meeting tonight at The 88 development in downtown San Jose. Tonight’s quarterly meeting program includes Leslie Parks, Director of Downtown Management from the San Jose Redevelopment Agency. Leslie will give an update on all the residential, commercial, and retail happenings in the downtown San Jose area. The meeting also will feature tours of the model homes at The 88 and a presentation by a member of the sales staff from The 88. Tours of the model homes will be conducted prior to the start of the regularly scheduled meeting.

An annual membership in the SJDRA is only $10. For membership information, attend tonight’s quarterly meeting or click here.

If you are not able to attend the SJDRA quarterly meeting tonight, join the SJDRA for its 1st Saturday Social on Saturday, August 2, at Bijan Bakery & Cafe. Come out to meet your downtown neighbors and discuss anything downtown at this no-host coffee and conversation event. The 1st Saturday Social is from 10:00 am through 11:30 am and is held the first Saturday of each month.

San Jose Downtown Residents Association Quarterly Meeting (SJDRA)
July 31, 2008 at 7:00pm
The 88
88 E. San Fernando Street, Downtown San Jose

Meeting Schedule

6:30 pm Tour of The 88 (optional)
6:45 pm Tour of The 88 (optional)
7:00 pm Register and Vote for Officers for SJDRA
7:15 pm Program
Kristen Nowak, The 88
Leslie Parks, San Jose Redevelopment Agency
8:15 pm Meeting Adjourned

Wine and cheese at the SJDRA quarterly meeting will be sponsored by Phil Ma of Silicon Valley Lofts & Condos.

What’s A High-Rise Penthouse Condo Worth to You?

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Have you ever wondered what it costs to purchase a penthouse condo in one of downtown San Jose’s new high-rise buildings? Not that you would actually buy a penthouse condo, or that you could afford one (I certainly can’t), but just out of curiosity. At Axis, penthouses will start in the $1 million range, while The 88 offers penthouse units beginning around $1.5 million. City Heights is currently raffling off one of its penthouse units which is valued at $1.2 million. Three Sixty’s penthouse units will start in the neighborhood of $2.5 million. Prices for the larger penthouse units will undoubtedly increase in each of these developments (but in this market, no one knows for sure). The biggest penthouse unit available in downtown San Jose is located at Three Sixty and is approximately 3,440 square feet. I’m sure the developer Mesa Development is hoping this unit will sell in the $5 million range. If you thought the price tag of a penthouse condo in downtown San Jose was expensive, well think again. In Los Angeles, a penthouse condo is selling for $47 million. No, I didn’t miss a decimal point somewhere in there. Forty-seven million dollars!!!

So what exactly does $47 million get you? For starters, the penthouse unit will consist of the top two floors of the Century high-rise development, currently under construction, located in Century City, just west of downtown Los Angeles. The condo will be approximately 16,500 square feet on the 41st and 42nd floors of the building and will include a 4,000 square foot master bedroom. That’s bigger than most houses! It will also house two working fireplaces, a massage room, an exercise room, a conservatory complete with rose garden, a deck, and an indoor swimming pool that opens onto a balcony. Talk about lifestyles of the rich and famous! It just so happens that the buyer of this extravagant $47 million penthouse is none other than Candy Spelling, widow of TV mogul Aaron Spellling (executive producer of Beverly Hills 90210, Melrose Place, The Love Boat, and many others). From her new penthouse home, which won’t be completed for at least another year, Candy Spelling will have 360 degree views of downtown Los Angeles all the way around to Catalina Island. By the way, if you are doing the math, that comes out to a Los Angeles County record $2,848 per square foot for this penthouse condo.

Like so many others purchasing a condo, Candy Spelling is apparently downsizing into this “smaller” new home. Her current residence? “The Manor” in the Holmby Hills neighborhood off Sunset Boulevard in Hollywood which is a 56,500 square foot home with a whopping 123 rooms located on six acres. Its the largest home in Los Angeles County. This mansion includes a one-lane bowling alley, a screening room, and a doll museum. According to Candy Spelling’s attorney, the 56,500 square foot home was too big for just one person. Really?!?! The Manor is expected to sell for close to nine figures.

To read more about Candy Spelling’s $47 million penthouse purchase, click here.

Three SixtyHow much would you pay for a penthouse at Three Sixty?

Axis, Music In the Park, and Vanessa Carlton

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music-in-park.jpgYou can get VIP treatment at this Thursday evening’s Music in the Park concert featuring Vanessa Carlton by stopping in at the Axis Presentation Center and taking a tour of the model homes. After you take a tour of the Axis model homes you’ll get a VIP wristband entitling you to exclusive entry to the Axis Hospitality Tent at the Music in the Park concert at Plaza de Cesar Chavez on Thursday, July 24. If you’ve already taken a tour of the models at Axis, just stop by the Presentation Center to pick up a wristband. This week’s featured artist is three-time Grammy-nominated artist Vanessa Carlton. Wristbands are available while supplies last.

Music In the Park
Thursday, July 24, 2008
5:30 pm - 9:15 pm
Plaza de Cesar Chavez

Axis* Presentation Center
38 N. Almaden Blvd.
Downtown San Jose

*Axis is marketed exclusively by Pacific Marketing Associates.

Vanessa Carlton performing A Thousand Miles

You Too Can Own a High Rise Penthouse in Downtown San Jose!

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city-heights.gifThink you could never afford to own a penthouse unit in a high-rise building? Well, think again. For only $150, you could be the owner of a penthouse unit in City Heights, downtown San Jose’s first residential high-rise development. As part of the InnVision Annual Silicon Valley Home Raffle, tickets are currently being sold for $150 for a raffle with the grand prize being a City Heights penthouse. The two-bedroom, two-bathroom penthouse condo located on the fifteenth floor at City Heights features floor-to-ceiling windows and is valued at $1.2 million. Or, you have the option of winning $1 million cash as the grand prize instead of the penthouse. There are over 100 prizes in addition to the penthouse including up to $20,000 cash. There will be early drawings for some of the additional prizes so buy your raffle tickets early. The grand prize will be drawn October 3, 2008 at the InnVision Gala.

innvision.jpgThe penthouse unit is being donated by Barry Swenson Builder, the developer of City Heights. Proceeds from the Silicon Valley Home Raffle beneift InnVision, the Silicon Valley’s largest provider of housing and services to homeless and at-risk families and individuals. InnVision provides services to more than 16,000 individuals annually throughout Silicon Valley.

InnVision Annual Silicon Valley Home Raffle
To purchase tickets, read the rules, or for more information, visit the InnVision Silicon Valley Home Raffle website or call (866) 581-4527.

One-Stop Shop Homebuyer Fair

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Are you looking to purchase your first home and need some information about the homebuying process? Or are you a first-time homebuyer in need of some assistance for a downpayment? Or maybe you are just looking to find out about affordable homes in new communities? If so, then you should attend the Homebuyer Fair this Saturday, July 19, 2008 put on by the City of San Jose Department of Housing. The Homebuyer Fair provides a one stop location to learn about the homebuying process, talk to representatives from new communities throughout San Jose, and speak to various lenders. The Homebuyer Fair is scheduled to have representatives from over 15 new home developments from throughout San Jose. In addition, you can learn about and qualify for downpayment assistance programs offered through the City of San Jose. Qualified buyers can receive up to $120,000 in downpayment assistance. The Homebuyer Fair will be held from 10:00 am to 3:00 pm this Saturday, July 19, at the Northside Community Center in the Mabuhay Senior Development in San Jose’s Japantown. Admission is free.

One-Stop Shop Homebuyer Fair
Saturday, July 19, 2008
10:00 am to 3:00 p.m.
Northside Community Center
488 N. 6th Street at Empire, San Jose
Located in the Mabuhay Senior Development
Admission: FREE
Click here for a flyer for the Homebuyer Fair.

Featured Communities:
Almaden Walk
City Heights
Jackson Park Condos
Marburg Place
Modern Ice
Monte Vista at Cannery Square
San Antonio Place
Tierra Encantada
Villa Almendra
Villa Fontanas
Viallage Square
Villa Valencia
The Works
One East Julian
Vista on San Carlos

Summer Fun in Downtown San Jose

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Its summer time here in downtown San Jose which means lots of FREE outdoor activities in downtown. So grab your favorite lawn chair or blanket and catch these favorite downtown events produced by the San Jose Downtown Association.

Music in the Park
Plaza de Cesar Chavez
5:30 pm to 9:15 pm

July 17: Flogging Molly (Alternative Irish Rock) w/ Opener: Ludo (Alternative Rock)
July 24: Vanessa Carlton (Pop/Rock/Jazz) w/ Opener: Dusty Rhodes and the River Band (Indie Folk/Rock)
July 31: Junior Reid w/ Andrew and Wada Blood (Roots Reggae) w/ Opener: Reggae Angels (Reggae)
Aug 7: Lenny Williams and Special Guest D’Wayne Wiggins (Contemporary R&B)
Aug 14: Rocco DeLuca & The Burden (High-Energy Blues/Folk Rock) w/ Opener: Five A.M.
Aug 21: White Album Ensemble (Beatles Tribute)
Aug 28: Dazz Band (Funk/R&B)
Sep 4: The Last Goodnight (Rock/Pop)

Cinema San Pedro
San Pedro Square
Movies Start at Dusk

July 16: Harold and Maude (PG) (cult)
July 23: Terminator 2 (R) (sci-fi)
July 30: Dr. No (PG) (action/adventure)
Aug 6: Moonstruck (PG) (romance)
Aug 13: The Usual Suspects (R) (noir/crime)
Aug 20: The Shining (R) (horror)
Aug 27: Animal House (R) (comedy)

Cinema St. James
St. James Park
Movies Start at Dusk

July 19: Willy Wonka and the Chocolate Factory (1971) (G)
July 26: Hairspray (1988) (G)
Aug 2: Grease (PG)
Aug 9: Buena Vista Social Club (G)
Aug 16: West Side Story (NR)
Aug 23: A Mighty Wind (PG-13)

*Sorry that the event schedules are coming out a little past due. Better late than never and still plenty of events on tap!