SAN JOSE GREYHOUND STATION SELLS FOR $39M FOR NEW CONDO PROJECT

April 14, 2016

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]