Divco West Properties wants to build a 500,000-sf office center on the corner of Park Avenue and Market Street, which officials say will complement neighboring buildings in the Cesar Chavez Park area and create a campus environment.
The site is near San Jose's Tech Museum, the San Jose Museum of Art and the Fairmont Hotel. The proposal will be considered by the San Jose Redevelopment Agency next month. With vacancies are they are, the project likely will not move forward without significant preleasing.
"We are very bullish about the future of downtown San Jose,'' says Divco West Chief Operating Officer Stephen Pilch."We believe a project of this caliber, with a prime location in proximity to transportation and nearby amenities, could appeal to a variety of tenants or a single user seeking a headquarters office.''
San Jose Mayor Ron Gonzales says this proposal represents a strong confirmation that the marketplace considers downtown San Jose a very desirable location for business. "I am delighted that we are seeing more exciting new projects that will add to our downtown and do not involve any public subsidy," says Gonzales.
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