The Palladium Company wants to develop 325,000-sf of retail space and 1.3 million-sf of residential, office and hotel space in the downtown area.
The delay in signing a development agreement with the redevelopment agency is largely due to the project’s size and the changing nature of the market, says a Palladium Company representative. The company is optimistic about the delay, as it will give them time to finish the environmental and technical reports.
San Jose Mayor Ron Gonzales says that the participation of Palladium is necessary to make the downtown area a shopping and entertainment destination, but he believes it will be a long, complicated process.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
