San Jose Issues $33.1M Permit for Gateway Tower at 477 S 1st St

San Jose issued permit 2026-136846-MF on October 20 for new construction at 477 S 1st Street, listed as the Gateway project, with a declared valuation of $33.1 million and 209,341 square feet. Gateway Tower SJ LP is the owner of record on the permit. It is classified as a multiple attached dwellings permit.

Why it matters

A permit issued in October is the step that lets a project move to site work. For builders and subcontractors, a 209,341-square-foot structure at this cost is a mid-size job. The cost works out to roughly $158 per square foot, so the permit may cover only part of the project. The permit record does not say which scope it covers.

The numbers

The permit shows a declared valuation of $33,113,559 for 209,341 square feet, issued October 20, 2026, on parcel 264-30-090. The record lists one dwelling unit, which looks like a data entry placeholder rather than the project’s unit count, so we are not reporting a unit total. Declared valuation is the filer’s estimate, not a sale price or loan amount. The city lists the permit type as multiple attached dwellings, the same category as the Trimble B permits issued earlier in October. Gateway Tower SJ LP is a limited partnership, and its general partner and principals are not named in the city data.

What’s next

Look for follow-on permits for additional scopes, and for a planning record or press release that states the unit count and the developer. An inspection record would show construction started. For more, see the San Francisco market hub.