A new building combining hotel rooms with residential condominiums in one of San Jose’s most sought after neighborhoods will be the first-of-its-kind in the city and in step with the vision considered for the area around Diridon Station.

The San Jose City Council has unanimously approved plans submitted by Dallas-based Kade Development to build a nine-story building — featuring a 303-room hotel and 19 condominium units on the top floors — on the corner of Stockton Avenue and Julian Street.

The development will be in one of the city’s most rapidly transforming areas — just blocks from the SAP Center, Diridon train station, bus rapid transit on the Alameda and Google’s proposed transit village.

Kade Development bought the vacant 0.86-acre site from the San Jose Redevelopment Agency for $4 million in 2018, according to Santa Clara County property records.

“This is very exciting,” Mayor Sam Liccardo said during the council meeting. “I look forward to seeing the shovel hit the ground.”

Condominium residents and hotel guests will enter the building through separate lobbies but share amenities such as an indoor pool and fitness center. A rooftop deck and common area on the building’s top floor will be reserved for condo residents.

The hotel will be dual-branded as a Courtyard and Residence Inn by Marriott.

The 19 condominiums will be one- and two-bedroom units ranging from 806 to 2,229 square feet. The building will also include a three-story underground parking garage with 129 spaces for residents and guests.

Erik Schoennauer, a land-use consultant representing Kade Development, said the project not only allows the developer to reap profits early from the sale of the condos but also achieves the city’s vision for the area around Diridon Station.

“The city’s Diridon Station Area plan envisions a vibrant urban, mixed-use environment bringing more people together doing different things and adding vitality to the public streets,” Schoennauer said. “This project fulfills that vision.”

The project will provide up to 50 new jobs and generate up to $2.4 million annually in new tax revenue for the city, according to Schoennauer.

In addition to the new building, the developer has vowed to install a new crosswalk at the intersection of Julian and Stockton and provide a new bike lane on the north side of Julian east of Stockton.