Housing / Land Use

San Jose developer buys San Juan Oaks property

The $43.75 million purchase by Third Millennium Partners includes the golf course and clubhouse.

There’s a sense of déjà vu all over again as yet another developer confirmed that the property next to San Juan Oaks Golf Course had been sold and would be the site of 1,084 homes designed for active adults 55 and over. 

What makes this development different from at least three previous attempts going back to 2015 is that San Jose-based developer Third Millennium Partners also bought the golf course and clubhouse, located near the Union Road and Highway 156 intersection, under the company title San Juan Oaks Owner LLC as part of the overall plan.

Dustin Bogue, CEO and partner, told BenitoLink the company purchased approximately 2,000 acres on Sept. 2 from Kenneth Gimelli’s San Juan Oaks LLC, the principal owner, for  $43.75 million, according to the County Recorder’s Office.

“We’re going to invest heavily in the course and clubhouse, as well as building the neighboring community of 1,084 units,” Bogue said, “as well as a commercial area, a hotel, 110-bed assisted living facility, and dedicating 1,200 acres to permanent open space for habitat conservation. Ultimately, we’re hoping to see an urgent care facility, which is still speculative.”

He said the planned community is similar to the former Del Webb plan for a 55+ community, with the major difference being that his company also bought the golf course and clubhouse.

“We bought everything in order to deliver on the original vision,” he said. “We expect to break ground in the next month.”

Work will begin first on the housing development, followed by the renovation of the golf course and clubhouse. Illustration courtesy of Third Millennium Partners.
Work will begin first on the housing development, followed by the renovation of the golf course and clubhouse. Illustration courtesy of Third Millennium Partners.

He said the company will basically piggyback on the environmental work that has already been done by former developers and will stay within the confines of previous approvals from the various government agencies. He confirmed there will still be a portion of land set aside for a fire station, should the county see a need for it. He said the company is obligated to offer the site, but not actually build the station.

He said work will begin on the development before the golf course, which will happen sometime in 2023.

According to Scott Fuller, a principal with the project and former manager of San Juan Oaks Golf Club, in 2019 the overall economic impact of the senior community when completed would bring the county $1.1 million annually, after all costs were paid. Building the project would cost over $400 million and employ 500 people, generating $22 million in annual income. After completion, there would be 322 jobs, with an annual input into the economy of $40 million.

 

Related BenitoLink articles:

Planners okay impact fees for 1,084-unit senior housing project at San Juan Oaks

San Juan Oaks senior home development back on track

State Fish & Wildlife answers accusations that it was responsible for Del Webb canceling project

Del Webb pulls out of San Juan Oaks project, Supervisor Botelho blames Fish & Wildlife

 

 

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John Chadwell

John Chadwell is a BenitoLink reporter and an author. He has many years experience as a freelance photojournalist, copywriter, ghostwriter, scriptwriter and novelist. He is a former U.S. Navy Combat Photojournalist and is an award-winning writer who has worked for magazine, newspapers, radio and television. He has a BA in Journalism and Mass Communications from Chapman University and underwent graduate studies at USC Cinema School. John has worked as a script doctor and his own script, God's Club, was released as a motion picture in 2016. He has also written eight novels, ranging from science fiction to true crime that are sold on Amazon. To contact John Chadwell, send an email to: [email protected]