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Developer KT Urban and an unnamed Chinese investment partner have purchased San Jose's Greyhound bus terminal for $39M. Plans call for two condo towers (up to 24 stories tall) in place of the former transportation hub, bringing 723 units to downtown San Jose.
A cooling economy is not deterring the expanded plans for San Jose’s largest residential project, reports the San Francisco Business Times. KT Urban co-head Ken Tersini says demand remains strong for new development.
The anonymous Chinese investor has ties to R&F Properties, one of the most active Chinese-backed developers in the Bay Area.
Work could begin later this year as the project gets regulatory approvals. Greyhound is hoping to move its bus terminals to Diridon Station. [SFBT]
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