"Westbank purchased the Charles Davidson Building at 255 West Julian St. in downtown San Jose for approximately $14.2 million, utilizing Acore Capital Mortgage financing of up to $207.9 million."
"The Charles Davidson Building will be adjacent to Westbank's proposed 17-story housing tower named Terraine, which is designed to produce 345 housing units and incorporate eco-friendly energy solutions."
"Westbank's plans for downtown San Jose include multiple projects such as the renovation of the historic Bank of Italy tower, several housing highrises, and a development next to the Tech Museum."
"Efforts by PG&E, Westbank, and San Jose officials aim to create eco-friendly housing towers and data centers that contribute to a greener energy downtown."
Westbank acquired the Charles Davidson Building at 255 West Julian St. for about $14.2 million, financed by up to $207.9 million from Acore Capital Mortgage, using multiple downtown properties as collateral. Adjacent to this building, Westbank is proposing a 17-story residential tower named Terraine, which aims to provide 345 housing units and capture excess heat for energy. Westbank envisions further projects in downtown San Jose, focusing on co-developing housing and data center initiatives in partnership with PG&E and city officials to foster a green energy environment.
Read at www.mercurynews.com
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