Rockpoint and Holland Partner Group Plan 311-Unit San Jose Development

• Rockpoint and Holland Partner Group have formed a joint venture to develop Stevens Creek, a 311-unit multifamily community at 3896 Stevens Creek Boulevard, San Jose, CA.
• The mixed-use project will include approximately 6,000 square feet of ground-floor retail space in San Jose's Stevens Creek corridor.
• Construction is expected to begin later in 2026, with completion scheduled for 2029.
• The community will include a resort-style pool, landscaped courtyard, resident lounge, fitness center and coworking space.
• The project is designed to add rental housing near major Silicon Valley employment centers, including the headquarters of Apple and NVIDIA.

What The Stevens Creek Project Will Bring To San Jose

A new multifamily development is moving forward in west San Jose after Rockpoint and Holland Partner Group announced a joint venture to acquire and develop Stevens Creek at 3896 Stevens Creek Boulevard. The project will deliver 311 apartments along with approximately 6,000 square feet of ground-floor retail space, creating a mixed-use community in one of Silicon Valley's major commercial corridors. The development is expected to add new rental housing near major employment centers and transportation routes. The site is minutes from the headquarters of Apple and NVIDIA, with access to I-280 and U.S. 101 as well as nearby retail, dining and entertainment.

What The Community Will Include

Stevens Creek is planned as a modern apartment community with amenities designed around outdoor recreation, wellness and remote work. The project will feature a resort-style swimming pool and landscaped courtyard, along with a resident lounge, fitness center and coworking lounge. Apartments are expected to include stainless steel appliances, solid-surface countertops, in-unit washers and dryers, and luxury vinyl tile flooring. The addition of retail space at ground level will give the project a commercial component while creating opportunities for services or businesses that can serve residents and the surrounding Stevens Creek corridor.

What The Development Team Says About Silicon Valley

The partnership is moving forward against a backdrop of strong demand for rental housing and limited new supply across Silicon Valley. Rockpoint Managing Member and Co-CEO Aric Shalev said the market's employment base and barriers to homeownership create a favorable environment for new rental housing.

“Silicon Valley remains one of the nation’s most dynamic innovation economies and continues to exhibit strong long-term rental housing demand driven by high-income employment, limited new housing supply, and high barriers to home ownership.”

— Aric Shalev, Managing Member and Co-CEO, Rockpoint

The location is also important to Holland Partner Group, which has spent more than a decade developing and acquiring multifamily properties across Northern California.

What Holland Partner Group Brings To The Project

Holland Partner Group has been active in the Bay Area for more than a decade, with projects and investments in San Jose, Oakland and other Northern California markets. The company is using its integrated development platform to bring the Stevens Creek project forward, with capabilities spanning development, construction, acquisitions, redevelopment and property management. John Wayland, Holland's Executive Managing Director for Development in Northern California, said the project reflects years of work on the site.

“This closing reflects years of disciplined work by our team to advance entitlements and build the right partnership to bring this project to life.”

— John Wayland, Executive Managing Director, Holland Partner Group

Wayland said the company expects to break ground later this year.

What The Project Means For The Stevens Creek Corridor

The 311-unit development adds new housing to a part of San Jose where residential supply remains constrained by development costs, limited land and strong demand around major employment centers. For Rockpoint, the project also fits a broader strategy of investing in high-barrier-to-entry markets. The firm and its predecessor have closed or committed to 147 residential investments representing approximately 100,000 multifamily units since 1995. For Holland, Stevens Creek expands an existing Northern California pipeline and reinforces its focus on communities located near employment, transportation and established amenities.

What The Construction Timeline Looks Like

The joint venture includes both the acquisition of the development site and construction of the new property. Financial terms of the transaction were not disclosed. Construction is expected to begin later in 2026, with the completed community scheduled for 2029. As the project moves forward, Stevens Creek will add hundreds of new rental homes and ground-floor retail to the west San Jose market.