TriForge Capital Partners has secured $34 million in debt financing for the development of a 97-unit art-focused multi-housing community in San Jose.
Dubbed 7EMPIRE, the project is currently under construction at 525 North 7th St. on the only remaining infill site in San Jose’s burgeoning Japantown neighborhood.
The USGBC LEED-designed property will offer a mix of modish residential dwellings; a 5,000-sq.-ft. publicly accessible sculpture and street art park; approximately 1,000 sq. ft. of entry plaza retail and 131 parking spaces.
An artist-in-residence program is currently planned, and the integral art park has been designed alongside Empire Seven Studios to include community engagement activities.
Residential floor plans will include a mix of junior suites, flexible flat-style residences and multi-story urban townhomes ranging from one to three bedrooms. Lobby areas will function as coworking spaces and art galleries curated in part by local artists.
Additional amenities include a rooftop lounge area; a functional movement gym; yoga and meditation studios; an outdoor community kitchen with multiple contemplation zones; mechanical valet parking; and a smart home concierge app experience.
Historical markers and sculptures will also be present throughout the site to tell part of the backstory of one of San Jose’s most up-to-the-minute neighborhoods.
TriForge Capital Partners is led by development groups LandForge and developURBAN.
Construction is expected to be complete in 2021.