On Friday afternoon, I met with a project manager and associate project manager from a developer who is involved with a project or two in downtown San Jose. The projects that this developer is involved with are very much still in the design phase and likely a few years away.
The meeting was essentially a brainstorming session for the developer to see what amenities and features buyers in the local market are looking for as the developer embarks on designing the next new high rise luxury condos for downtown San Jose.
What defines a “luxury” unit? Stainless steel appliances and granite countertops? Walk-in closets? Do buyers want a private balcony or are they ok with common area outdoor space? How much square footage are buyers looking for? Would they buy a three-bedroom condo?
And what about the community that they are buying into? What do buyers look for in a “luxury” complex? What common area amenities are important to buyers today? Do buyers want a complex pool and spa? Theater room perhaps?
This was the second such meeting that I’ve had with a developer who is working on a project in downtown San Jose. I would love to hear what you, as potential buyers and residents of downtown San Jose, are looking for in a new condo. I’m sure the developers would love to hear your input as well. Tell us what you are looking for and maybe you’ll be able to “help” design the next new luxury high rise in downtown San Jose.
Good question! I have been checking out some of the new developments downtown and have been a bit disappointed so far, but I hope Axis or The 88 will come through. Most importantly I am looking for a 2 or 3 bedroom (3 only if the price is right), at least 1300 square feet. Price is very important of course. (360 prices are way too high on the combined income of two software engineers).
Must have:
Location in central downtown (easy walk to Camera 12)
Pet friendly (small 20lb dog)
Dual sinks in the master bathroom
Granite counters/stainless appliances
Efficiently designed kitchen with an island
Walk-in closet in the master bedroom
Reserved, covered parking for at least one car (2 cars even better)
Med priority:
Lobby attendant for guests and package pick-up
Common area with grass and trees (pool/spa optional)
Outdoor balcony
Decent sized workout room
Nice looking exterior of the building and lobby
Nice to have:
Guest or public parking in or very near the building
Space for washer and dryer away from the bedrooms and not in the kitchen or bathroom.
Thanks for putting together this blog!
Lindsey,
Thanks for your input and insight. Hopefully, the developers will read this and take your comments into consideration.
Both Tower 88 (or The 88 now) and Axis, which are scheduled to be completed in Spring 2008, may meet the specifications you are looking for. You mentioned a lobby attendant as a medium priority and pool/spa as optional for common areas. What HOA fee amount do you think is reasonable for one of these new high rise luxury condos? Would you be willing to pay $350? How about $400? $500??? Would you pay more than $500 in HOA fees for these amenities?
Just another thought.
Well, as a first time homebuyer, the initial purchase price is the biggest deterrent for me. In the end I would consider HOA fees up to $550 for a concierge, luxury common area with landscaping, and a pool. It all depends on the type of services offered…
More nature and park areas right next to the planned developments. Friendlier buildings that are not so cold and ugly. Bigger balconies so that people who love nature can have plants and a sense of being outside. More window that let in direct sunlight. Buildings with good feng shui. More nature in the buildings or around them, especially native plants. They should also be building buildings that are environmentally friendly. Available or mandatory composting, less lighting. I live in a condo unit that has the walkway lights on 24 hours a day whether they are needed or not. Make things modern but natural a the same time.
Both my husband and I love living downtown. We would require at least 1600 square feet and a balcony large enough to accommodate a small table for two and a gas barbeque. The granite counters and top of the line (Bosch) stainless steel appliances (refrigerators built in to create more space). In addition to traditional appliances we would also require a trash compactor, two bedrooms with walk in closets and instant on hot water complete with a central water softener. We don’t think a concierge is really necessary as this would no doubt drive the HOA fees up to over $700 a month. Two parking spaces and a secured, closed storage area of at least 200 sq feet. While I see a market for the up and coming person I think that developers would be wise to also hold focus groups with some baby boomers who are getting ready to retire or downsize to a smaller home. Hardwood floors are also a must for all floors. As for a swimming pool we could probably do without since we rarely swim. A spa might be important for those aging joints. Maybe an area that was misted so we could sun bath and read during hot weather. We would also like a nice sized community room complete with a kitchen that residents would reserve for parties and other functions. That’s about it for now.
Ideally we would like 1600+ sq ft, at least 2 beds (preferrably 3 bedrooms or 2 beds and a loft), 2 or 2.5 baths,a pantry, more than one walk in closet, underground parking for 2 cars, allow 2 dogs. I don’t feel a concierge is neccessary if it puts the HOA over 500 a month. A pool and gym would be great features as would ground level coffee shops and stores, etc. Gated access(key card) is great to have and a park or even private dog park would be amazing. I have seen a similar complex in another state with these features and they were very successful. It’s alot to ask for in San Jose but hey, you asked what we would like to buy….
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