Technology Will Help Build San Jose's Miro Residential Tower
Bayview Development Group has begun construction of Miro, a high-rise residential building in Downtown San Jose. The 28-story building designed by Steinberg will include over 600 residential units, and the general contractor will use some of the latest construction tech on what will be one of San Jose's tallest towers.
Suffolk Construction, which has been launching smart technology for various projects throughout the country, will use its lean construction principles, virtual design and construction to increase teamwide collaboration and efficiency and minimize waste on the project.
As part of the building of the amenity deck, which has complicated interfaces and flashings, Suffolk plans to bring together the design team, a waterproofing consultant, trade partners and its staff in a virtual environment prior to building the deck, Suffolk Regional Manager in San Francisco Mike DiNapoli said.
Suffolk also will use its plan-and-control method, which will allow closer collaboration among developer and designer. Suffolk and Steinberg already have worked closely on the level of development of the project model and DiNapoli said the team feels further along in the process than it has been with its other projects. This will allow the contractor to spend more time on building systems that would not receive attention in a model environment.
"There is inherent efficiency we are gaining from not having to re-create or significantly modify the model," DiNapoli said. "We will be pushing ourselves to extend our process to production tracking, change management and to the development of our parameter safety plan as well."
A Residential Boom In Downtown
Miro is part of an ongoing boom of residential development in San Jose's downtown. KT Urban plans to build two towers with 708 condos at a former Greyhound bus station. Insight Realty is working to add a mixed-use development: Museum Place with a hotel and over 300 residential units next to The Tech Museum of Innovation.
Miro will include 20K SF of retail and commercial space as well as 50K SF of indoor and outdoor amenities such as a rooftop pool, concierge services, fitness and spa facilities, pet facilities, fire pits and rooftop lounges. The residential tower, which will offer one-, two- and three-bedroom units, is expected to be completed in 2020.
The property at 167 East Santa Clara St. has a Walk Score of 96 and is within walking distance of a future San Jose BART station. It also is across the street from City Hall.
Holliday Fenoglio Fowler arranged $288.8M in construction financing for Miro on behalf of the developer. The five-year interest-only construction loan is through Broad Street Real Estate Credit Partners III, a fund managed by the Goldman Sachs Merchant Banking Division. The HFF debt placement team representing the borrower included Senior Managing Director Charles Halladay, Director Brandon Roth and Analyst Jason Carlos.