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Exclusive: See KT Properties' new double-tower project for Downtown San Jose
Rendering courtesy of C2K Architecture
The new KT Properties development sits across from the entrance
to San Pedro Square Market. It's not totally visible here, but the project steps
down toward the Fallon House property along West St. John St. Between the towers
is an amenities deck with pool area.
- Nathan Donato-Weinstein
- Real Estate Reporter- Silicon Valley Business Journal
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About a month ago, we
told you developer KT Properties had acquired a 1.85-acre parcel in downtown San
Jose and would soon formally propose a major high-rise project there.
“Soon” turned out to be Wednesday.Cupertino-based KT has submitted preliminary plans for a two-tower residential complex for the site, located directly across from San Pedro Square Market. On tap: A total of 612 units and about 13,000 square feet of retail space.
The development adds to a sense
of turnaround for downtown’s residential market, coming the same week
developers
broke ground on the 22-story, $149 million Centerra apartment tower.
Another, One South Market – which KT also developed before selling it to Essex
Property Trust – is also under construction.
“We think our timing is going to
be outstanding, and we’re excited about getting it rolling,” principal Ken Tersini told me on Thursday.
“Those projects complement what we're doing. The market is plenty deep enough
and the demographics are lining up nicely.”
The new proposal lays out plans for a 22-story east tower and 20-story west
tower aligned along West St. James St. The block is bounded by West St. James,
North San Pedro St., West St. John St. and Terraine St. (The historic Fallon
House as well as a small residence on Terraine St. are not part of the
development.)The east tower would include 335 units and rise 228 feet. The west tower would include 277 units and clock in at 210 feet tall. Both would wear a similar, sleek glass skin and share a luxe “amenities courtyard” in the middle featuring a pool, bocce court and garden area.
Nathan Donato-Weinstein covers commercial real estate and transportation for the Silicon Valley Business Journal.
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