Development opportunity for up to 36 condominium units or 36 apartment rental units on two adjacent parcels: 529 Page Street & 541 Page Street in San Jose. Within the Envision San José 2040 General Plan, both parcels are designated as MUN (Mixed Use Neighborhood) and are zoned R-M (Residential Multifamily). Both parcels are 13,335 SF for a total of 26,670 SF. The General Plan allows for 30 dwelling units per acre, with an allowable height of 3.5 stories or 35 feet. However, by utilizing the State Density Law, the units can be increased by 50% by including 15% low affordable units and 15% moderate units. This allows for 36 dwelling units at 7 stories, or 70 feet in height. State Density Bonus law also allows for the project to push back on setbacks and required parking. Concept renderings and floorplans are included in this document. These concepts have not been submitted to the City of San Jose for approval. They are intended to provide the developer with an idea of what might be accomplished within the General Plan, Zoning, and State Density Law. The properties currently have rental structures on them. 541 Page has four, one-bedroom/one-bath units in the following structures: a duplex in the front consisting of two, one-bedroom/one-bath units, and two cottages in the rear, both which are one-bedroom/one-bath. All units are rented for an average of $1703/month. 529/531 Page has two single family homes on the parcel. 529 Page is a four bedroom/two-bath standalone structure rented at $3,255/month and 531 Page (a single family structure in the rear) consists of a three bedroom/two-bath structure rented for $3,150/month. The structures were constructed more than 100 years ago, and due to the condition of the buildings, the changing nature of San Jose, the high need for residential housing, and the proximity to the Google Village Downtown Campus (1.7 miles), the two parcels are a prime redevelopment opportunity. There are 20 projects currently in the pipeline for redevelopment within 2 miles of the site and 992,000 SF commercial site within 3 miles. There are, however, more than 50 development projects in planning in the downtown core, and another 50 within a mile of downtown. Together, they represent thousands of new housing units and millions of square feet of office potential. The properties are located close to major Transit Corridors off of West San Carlos Avenue and the commuter route of I-280. The properties are located in Midtown San Jose in the Richmond-Menker neighborhood. The two parcels are being offered together.