In San Jose, BXP is proposing a significant residential development on a site originally intended for a tech campus, which was deemed unfeasible due to a dwindling office market. The project will consist of two buildings: one offering 360 market-rate apartments and another with 122 affordable units aimed at families earning up to 80% of the area's median income. This strategic pivot towards housing reflects a growing trend among developers reassessing the utility of office spaces in light of recent economic shifts.
BXP plans two new residential buildings in north San Jose, including 360 market-rate apartments and 122 affordable units, as a response to the fading office market.
The new housing project on the site of a scrapped tech campus reflects a broader trend where many office plans are being reconsidered for residential development.
With an affordable housing component, the development aims to serve households earning 80% or less of the area median income, crucial amid rising housing costs.
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