![]() Dining and gathering areas on the ground floor of Miro housing towers at 181 E. “Long-term we are seeking to bring a full-service restaurant or two for the West retail space to create a compelling street vibe,” McMahon said. While the digital pop-up display is expected to generate interest in the site, Bayview’s primary commercial focus is to find tenants for the ground floor. Floors three through 19 are being made available for tenants in the eastern tower, McMahon said. Residents could start to move in during August. Miro’s developer is also seeking tenants to lease the apartments in the tower that’s closest to East Santa Clara and North Fifth. Santana Row in San Jose adds 15 new merchants, including Yeti “These guys are world-class and I’m excited to see what they can do with the space,” McMahon said. Partner and artistic director Zheng Chongbin of cFire is expected to be a key player in the digital art pop-up exhibit at Miro. “This is a unique use of the space to bring more activation to downtown that can be viewed by anyone on City Hall Plaza.” cFire projector display on the side of The Merchandise Mart building in Chicago. “We are very excited to partner with cFire to do a digital art installation in the West Retail space that should open in August,” McMahon said. Ī “pop-up digital art gallery,” in another successful deal for Miro, will appear at East Santa Clara Street and North Fourth Street through displays created by artists affiliated with San Rafael-based cFire. Ground floor restaurant and retail spaces, with outdoor gathering areas, in Miro housing tower complex at 181 E. Miro also includes around 20,000 square feet of ground-floor retail space, occupied by Starbucks and an Italian restaurant.Until restaurant and retail tenants are found to join Starbucks on a long-term basis, Bayview Development is using a short-term approach to activate the ground floor. The community features nearly 1 acre of outdoor space, a pool and fitness deck, two rooftop lounges, and a private art gallery. The new loan also points to confidence in this landmark project and the city’s urban core, Mercury News highlighted.ĭesigned by Steinberg Hart and constructed by Suffolk Construction, the 360-unit property encompasses a mix of studio, one-, and two-bedroom units, averaging 933 square feet. These investment and finance trends has thus far proven resilient in the face of economic uncertainties. The refinance of this core asset comes alongside a wider trend toward high-quality, centrally located properties. Flight-to-Quality Drives Multifamily Capital Markets Santa Clara St., the property is in downtown San Jose, right across from City Hall. Miro is currently in the lease-up phase, according to Brandon Roth, senior director at JLL. The note replaces the $288.8 million, five-year, interest-only construction loan Bayview received in 2017 through Broad Street Real Estate Credit Partners III, a fund managed by Goldman Sachs.īayview broke ground on the two- tower development in 2017 and topped out in 2020 as the tallest building in the city. JLL secured the long-term, fixed-rate financing through Pacific Life. Bayview Development has received $345 million in refinancing for the Miro, a 28-story, Class A multifamily development, known as San Jose’s tallest building.
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