372 apartments just got the go-ahead in North San Jose

On a 22-acre site off Seely Avenue in North San Jose, between the Montague Expressway and Coyote Creek, the second of three big apartment buildings just got the paperwork to go up. The City of San Jose issued the building permit on October 6.

Permit 2026-117021-MF covers 372 apartments and 419,266 square feet at 120 Yoshino Way, a new street inside the site, with a valuation of $66.3 million. A companion permit for the parking garage adds $28 million. Together they carry $94.3 million, or about $253,000 per apartment before land, fees or finishes. Both show up in the city's last-30-days permit file under the project name "Trimble B."

It is the biggest housing permit San Jose has issued in the last 30 days by a wide margin. The next largest in the file is 8 homes. For a part of the city zoned for tens of thousands of homes two decades ago, it is also a sign the plan is finally turning into buildings. Houseberry scores North San Jose 4.2 out of 5 for safety and 2.7 for amenities, and that gap is what this project is trying to close.

What is being built on Seely Avenue

The developer is The Hanover Company, through Seely Development Partners LLC, with Hanover RS Construction as the builder. The architect, KTGY, calls this one Hanover Coyote Creek. Its neighbor, Hanover Parkside, got its own permit on February 3 for 397 apartments and $52.7 million. A third Hanover building, with 371 apartments, has no permit or timeline yet.

The rest of the 1,472-home plan is already moving. SummerHill Homes bought about seven acres for $73.6 million and is pulling permits for 154 townhomes one building at a time, a 7-plex in January and a 5-plex in September. An affordable building with 136 apartments for households earning 30 to 70 percent of area median income got its permit on June 4. Earlier filings had it at 178, so the full site may land a little under 1,472. Its total cost, in the state tax credit committee's December 2025 staff report, is $115.9 million, or about $852,000 a home.

The plan also includes a 2.5-acre park and somewhere between 16,000 and 19,000 square feet of shops, depending on which filing you read. The apartment buildings run six to seven stories with about 1,460 parking spaces between them. The city approved the whole thing on August 13, 2024 after a full environmental review, and the state's CEQA record notes that 584 trees come out.

The land was farmland until recently. San José Spotlight covered the May 16, 2025 groundbreaking, with Mayor Matt Mahan and Councilmember David Cohen on hand, and expected about 400 homes to open in 2027.

Why North San Jose, and why now

North San Jose was supposed to fill in years ago. The city's 2005 North San Jose Area Development Policy made room for 32,000 homes, 27 million square feet of offices and labs, and 83,000 jobs, but a 2006 legal settlement tied each phase of homes to new office space. The city said in 2019 that SB 330, the state housing crisis law, cleared those caps away.

The money side moved too. San José Spotlight credited the city's tax break for large apartment projects with getting the first building started. The rents help. North San Jose apartments averaged $3,749 a month in September 2026, against $3,315 citywide, according to RentCafe.

Here is the derived number we think matters most. San Jose's active-permit data shows 16 new apartment buildings permitted in 2026 so far, with 2,670 homes. The three permitted buildings at Coyote Creek Village, at 905 homes, are about 34 percent of that. One 22-acre site is carrying a third of the city's apartment pipeline this year.

What the neighborhoods around it score

Houseberry scores 112 San Jose neighborhoods. The ones around this site share a profile: strong safety scores, middling schools and low amenities, because the area was built around office parks.

North San Jose and Rincon de los Esteros both rank in the top third of the city overall, at 35th and 38th. Their amenities scores of 2.7 and 2.4 are well under their safety scores. Golden Triangle scores 2.2. Prices in the two North San Jose neighborhoods with steady data have gone sideways for a year while the city's typical home sits near $1.63 million. That is a market with room for new renters, not one overheating.

We left Berryessa North's price change out of the table because its 12-month history swings too much to trust as a trend.

Our view

We think this is what North San Jose was meant to be in 2005: apartments, townhomes, a park and some shops on land that used to grow food, a mile or so from VTA's Alder light rail station and a short drive from Cisco's Tasman Drive campus. The judgment is easy. The open question is whether the shops and the park arrive with the apartments, because a 2.4 amenities score does not rise on apartments alone.

The honest trade-off is cost. Market-rate apartments here cost about $253,000 each in permit valuation before land, and the affordable building runs about $852,000 a home all in. That second number is the one San Jose will have to bring down if the next 30,000 North San Jose homes are going to happen.

To see how the neighborhoods around Coyote Creek Village compare with the rest of the city, check Houseberry's San Jose neighborhood ranking.

Sources

• City of San Jose: last 30 days building permits
• CEQAnet: Coyote Creek Village, SCH 2022020565
• KTGY: groundbreaking of the first residential building at Coyote Creek Village
• California Tax Credit Allocation Committee staff report, Trimble Apartments
• San José Spotlight: housing in North San Jose underway on former Japanese farmland
• SF YIMBY: developers purchase land for the Seely Avenue master plan