Early renderings of the proposed San Jose State University housing tower at the Camera 12 site

Early renderings of the proposed San Jose State University housing tower at the Camera 12 site

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Early renderings of the proposed San Jose State University housing tower at the Camera 12 site



Early renderings of the proposed San Jose State University housing tower at the Camera 12 site

SAN JOSE — San Jose State University leaders are eyeing the downtown site of the former Camera 12 cinema to build high-rise student and faculty housing, a project that could transform one of downtown San Jose’s busiest pedestrian walkways.

A committee of directors from the university’s Tower Foundation, the school’s nonprofit auxiliary, met Thursday morning to discuss acquiring the ground lease for Camera 12, a popular downtown theater that closed in September due to declining revenue.

“We’re very excited about it, because it’s just so close to campus,” said Paul Lanning, vice president for university advancement and CEO of the Tower Foundation. “We certainly envision going vertical with housing. We know being landlocked in Washington Square is going to be difficult and we need to grow beyond that.”

The directors did not vote Thursday, but university officials say they intend to move ahead with plans to potentially take over the lease from landlord Forest City and buy the 39,204-square-foot lot of land on Second Street.

Board approval is needed before the Tower Foundation can make an offer. A vote is expected early next year. The successor agency’s oversight board and City Council also would need to approve the sale. It’s unclear how soon the towers could break ground, if all goes well.

The university’s current enrollment is 33,000 students, and it’s only expected to grow. Lanning said freshmen students are likely to remain on campus, and the proposed apartment tower at the Camera 12 site would house graduate students, university staff and faculty.

Early renderings for the project suggest the tower will rise at least 20 stories with retail and dining options on the bottom floor. Another idea being floated is to operate a luxury movie theater on the ground floor, according to Lanning. It would be similar to the Alamo Drafthouse Cinema in San Francisco, which features luxury seating, food and alcohol under one roof.

“That’s one idea that’s been tossed around,” Lanning said. “It’s one of many we’d have to consider.”

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The project proposal calls for 504 apartments for students, 36,992 square feet of office space, 35,352 square feet for the cinema and 26,975 square feet of retail. A parking garage would hold 69 cars.

Lanning said the Camera 12 land, which is owned by the agency overseeing former city redevelopment property, is attractive to university officials because it’s close to campus and transit, as well as the Hammer Theatre, once home of the former San Jose Repertory Theatre and now operated by San Jose State.

If the plan moves forward, Lanning said the university potentially could lease the site for up to 69 years. The Tower Foundation would fund the acquisition of the land and ground lease, then team up with a private developer. Funding for acquisition would come solely from the Tower Foundation.

San Jose City Councilman Raul Peralez, who represents downtown, said he was disappointed to see Camera 12 close its doors a few months ago. He believes downtown San Jose needs a mainstream theater, but said student housing is a great alternative for the popular site — especially with an active ground floor filled with retail.

“We all would have loved for it to be a theater,” Peralez said, “but if it’s not going to be a theater, the best uses in downtown are those with active ground floor storefronts that bring people to the area.”

One longtime land use consultant said the project is another example of a positive evolution of a “town and gown” relationship — like Hammer Theatre and the Dr. Martin Luther King Jr. Library.

“San Jose State is sometimes the forgotten gem of downtown, and it’s great that they’re expanding,” said Bob Staedler, a principal at Silicon Valley Synergy, adding that the site is a key part of downtown’s fabric. “Camera 12 is on what’s historically been called a pedestrian highway — the Paseo de San Antonio. You look at the light rail and all the students coming down the Paseo.”

The redevelopment “successor agency” overseeing use of the Camera 12 property put it on the market Thursday, and Richard Keit, the successor agency’s managing director, says the agency must sell to the highest bidder to ensure maximum value for taxpayers.

The most recent land appraisal for the site was $5 million, Keit said.

“According to state law, we just have to go with the highest bidder,” Keit said, adding that at least two other developers also are eyeing the site. While the city would love to see the property used for student housing, he said, “there are plenty of other qualified developers.”