488 E Saint John Street presents a premier development opportunity in the heart of San Jose’s Santa Clara Street Urban Village. This entitled, shovel-ready project features a five-story, 46-unit luxury apartment building totaling 59,022 square feet, including ground-level parking for 30 vehicles. Designed with upscale amenities, the building includes a welcoming lobby, resident lounge, and a fully equipped fitness center on the first floor. The thoughtfully planned unit mix consists of 17 units with two bed, two baths, 4 units with one bed two bath +den, 23 units one bed, one bath and 2 studio units offering broad appeal to a range of tenants. Of the 46 total residences, 39 are market-rate units, while 7 are designated as affordable housing for moderate low-income households. Building permits are expected to be approved by the end of July 2025, making this a true shovel-ready development. The current 16,000 SF site includes two single-family homes and a triplex, all scheduled for demolition to make way for the new construction. This project offers an exceptional opportunity for developers and investors to pursue a build-to-sell strategy or long-term income-generating asset in one of the region’s fastest-growing urban cores. Located just one to two blocks from San Jose State University and surrounded by downtown’s shopping, dining, and entertainment destinations, the site is ideally positioned for sustained rental demand. As the city continues to evolve through initiatives like the Urban Village Plan, the BART extension, and Google’s transformative Downtown West Mixed-Use development, this project stands at the forefront of San Jose’s next chapter as a vibrant, transit-connected, urban lifestyle hub.