A prime location in downtown San Jose is on the market with a new vision for development, moving from a proposed 21-story tower to a smaller residential project. The original plan proposed 290 residential units and office space but has now been adjusted to focus on a mid-rise luxury multifamily development, featuring half the original housing units. The site offers amenities such as a rooftop lounge, pool area, and fitness center. It is for sale at $12.5 million, significantly lower than its previous appraised value of $35.7 million, amid ongoing financial challenges.
The site was originally envisioned as, and is fully entitled for, as of June 2022, a 21-story, mixed-use development comprising 290 residential units and five floors of office.
The site has been re-imagined as, and is ideally suited for, a mid-rise luxury, multifamily mixed-use development with reduced housing units.
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