On Feb. 2, 2026, a major housing development in North San Jose moved forward following the purchase of a 9.8-acre site by TPG and Angelo Gordon, two New York City-based real estate investment firms. The deal, valued at $45 million in cash, was recorded with the Santa Clara County Recorder’s Office.
The proposed project could bring more than 700 new homes to the area, addressing ongoing demand for residential units near tech hubs and existing neighborhoods. The development is planned for addresses at 211, 251, and 281 River Oaks Parkway, adjacent to Zanker Road.
According to public documents, Irvine-based Risewell Homes will lead the development and is also part of the ownership group. Valley Oak Partners, a San Jose-based firm, previously secured a purchase contract for the site and guided the proposal through city review. San Jose city officials approved the project in October 2025.
The plan includes a seven-story market-rate apartment building with 505 units, a five-story affordable apartment hub with 132 residences, and 100 townhomes arranged in fourteen three-story buildings. The current property contains three office and research buildings that are slated for demolition as part of the redevelopment effort.
The timeline for starting or completing construction has not been disclosed. As of Feb. 2, county records indicated that no construction loan had yet been obtained by the new owners.
