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SAN JOSE — A big apartment complex in east San Jose that could produce hundreds of residences has taken a big step forward now that the developer has landed a construction loan to build the project. The housing development would be located at 905 and 907 North Capitol Avenue near the interchange of Interstate 680 and Berryessa Avenue in San Jose, according to Santa Clara County property documents. Hanover Co., a veteran real estate company, owns the project site and is developing an apartment complex with 345 residential units, documents filed on March 20 with the Santa Clara County Recorder’s Office show. The apartments will consist of 328 market-rate units and 17 affordable housing units, the public real estate documents state. Citizens Bank provided Hanover Co. with a construction loan totaling $87.4 million, according to the property, records. A prior decision by San Jose officials to reduce development fees in the city has helped bolster efforts to produce housing in the municipality, including the North Capitol project. “With the City Council action to reduce fees, the financing is secured and construction is beginning this week,” said Scott Youdall, regional development partner for the West Coast with Hanover. Texas-based Hanover Co. is building the apartments next to 32 townhomes that Trumark Homes is developing. The apartment building is slated to be seven stories along with an underground parking area, documents on file with San Jose city planners show. The ground floor is expected to include about 2,900 square feet of commercial and office spaces, according to the city planning files. A leasing office totaling 500 square feet is also proposed. The precise timeline for the project’s completion wasn’t immediately known. The Schoennauer Co., a land-use and planning consultancy, helped to steer the project through the San Jose development review process. The project is expected to require the demolition of a single-family home, barn and greenhouse to clear the way for the project, according to city public records. The site is down the street from the Penitencia Creek light rail stop on North Capitol Avenue and is a two-mile drive from the Berryessa BART station. “A clubroom, courtyards, pool deck and a fitness center” are listed among the amenities for the project, according to the city planning documents.

SAN JOSE – By the end of April, Signia by Hilton San Jose may receive the funding it needs to avoid a loan foreclosure, a revamp in view as the hotel enjoys a major financial upswing. A Santa Clara County court case and lawsuit could determine the landmark lodging tower’s fate and future ownership. The hotel, located at 170 South Market St., has loan commitments in the form of two “term sheets” that detail plans for new lenders to refinance its funding, according to documents on file with Santa Clara County Superior Court. Sam Hirbod, the principal executive of the hotel’s ownership group, sketched out in a court filing the hotel’s prospects for a completed refinancing. The 541-room Signia by Hilton is San Jose’s largest hotel. “Two new lenders are very eager to take over financing of the hotel,” Hirbod stated in papers filed with the Santa Clara County court. “The lenders are expecting to close refinancing in mid-April.” Bridge Investment Group and Nexpoint have agreed to provide the hotel property with a refinancing of its mortgage. “We look forward to working with you on this transaction,” Jeehae Lee, manager of Bridge Debt Strategies Fund, wrote in a March 10 letter detailing Bridge’s term sheet. The Bridge and Nexpoint loans would pay off the existing property mortgage held by Brightspire Investment Group. “BrightSpire will be paid 100% of the money it is due under the loan agreements,” Hirbod stated in the court filing on March 13. For several months, Brightspire has been attempting to foreclose on a small portion of a $136 million loan that it provided to the hotel property, according to court and real estate public documents. Brightspire aims to seize ownership of the hotel through foreclosure proceedings, court documents state. In 2018, Hirbod’s ownership group paid $223.5 million for what was at that time an 805-room hotel with two towers. That price worked out to about $278,000 a room. Hirbod stated in court filings that he has invested $170 million into the hotel. That investment includes a $90 million down payment to buy the hotel in 2018, $26 million in interest payments to the lender while the hotel was closed during COVID-linked shutdowns and $54 million to renovate the hotel in 2023 and 2024. In 2023, Hirbod took steps to further stabilize the hotel’s finances through the sale of the 264-room southern tower. Throckmorton Partners paid $73.1 million to buy the tower and convert it into housing for San Jose State University students. The southern tower is now known as Spartan Village on the Paseo. Hirbod used the $73.1 million to pay down the amount of the Brightspire loan. The Signia by Hilton is now riding a wave of increased bookings for conventions, events and guests, according to Hirbod. “The hotel is thriving,” Hirbod stated in the filing. In October 2024, the appraised value of the Signia by Hilton was $240 million. “While so many business owners in San Jose walked away from their businesses during COVID — leaving their buildings hollow shells and boarded up storefronts on the streets of San Jose — I doubled down during COVID,” Hirbod stated in the court filing. Hirbod said his efforts have fueled a turnaround for the hotel. “l knew that the hotel would emerge from COVID stronger than ever,” Hirbod stated. “In the process, I greatly improved the value and stature of this iconic city of San Jose landmark.”

DA’s office says it will have to see specifics before deciding whether it would prosecute ‘Responsibility to Shelter’ cases 

Rajul Jain and Vivek Shivhare had been home searching for a few months when they found the perfect place in the hills above San Jose — a three-bedroom, three-bathroom ranch that would provide enough room for them and their teenager daughter. It was listed for $1.68 million — within their initial $1.8 million budget. They put in an offer $70,000 over asking, hoping it would be enough to acquire the house. Instead, they encountered a familiar Bay Area home-buying experience: a bidding war.  The sellers had two other offers, and the couple hadn’t come in on top. They raised their offer to $1.8 million, then to $1.82 million. Finally, their offer reached $1.86 million — $180,000 over asking. It was enough to win the house.

SAN JOSE — Under a proposal by the mayor, the municipal government could seize ownership of the abandoned First Church of Christ, Scientist building, a historic downtown site that has become one of the city’s most blighted properties.  China-based Z&L Properties, acting through an affiliate, owns the property at 43 East St. James St. The real estate firm had promised to restore and preserve the old church and develop two housing towers next to it.

SAN JOSE — A big apartment complex in downtown San Jose might be able to break ground this summer if the project’s developer can land construction financing for the housing.  The 272-unit apartment development is slated to sprout at the corner of West San Carlos Street and Josefa Street in San Jose.

LIVERMORE — An East Bay housing development that would produce hundreds of units is pushing ahead with a $25 million-plus deal to buy a large chunk of empty land that’s needed for the project.  A group led by real estate investment firm TPG Angelo Gordon and developer Trumark Homes paid $29.1 million for five vacant north Livermore parcels, according to documents filed on Feb. 28 with the Alameda County Recorder’s Office.

A luxury kitchen is more than just a space for cooking; it is the centerpiece of an upscale home, seamlessly blending opulence with functionality. Today’s high-end kitchens are not only defined by their lavish aesthetics but also by their commitment to sustainability. As eco-conscious living becomes an essential part of luxury lifestyles, homeowners are integrating sustainable materials, energy-efficient appliances, and innovative technology to create environmentally responsible yet exquisite kitchen spaces. Sustainable Materials for Timeless Elegance Luxury and sustainability go hand in hand when selecting premium materials. Reclaimed wood cabinetry, such as walnut or oak, offers a stunning, one-of-a-kind look while reducing deforestation. Quartz countertops from brands like Caesarstone or Cambria provide a durable and sustainable alternative to traditional marble, offering elegance without the environmental impact. For flooring, responsibly sourced bamboo and FSC-certified hardwood deliver both sophistication and sustainability. Energy-Efficient and Smart Appliances A high-end kitchen isn’t complete without top-tier appliances that combine performance with eco-conscious design. Sub-Zero refrigerators, known for their precise temperature control and energy efficiency, help reduce food waste and electricity consumption. Wolf induction cooktops offer a sleek design while using less energy compared to traditional gas stoves. Miele dishwashers, equipped with advanced water-saving technology, provide a quiet and efficient cleaning solution. These appliances not only elevate the kitchen experience but also contribute to a sustainable future. Eco-Friendly Design Elements Incorporating sustainable design elements enhances both aesthetics and environmental responsibility. LED lighting, such as those from Lutron or Philips Hue, reduces energy consumption while adding ambiance to the kitchen space. Water-efficient fixtures from brands like Kohler and Grohe minimize waste without compromising luxury. Large windows and skylights invite natural light, reducing the need for artificial lighting and creating a bright, welcoming atmosphere. Sustainable Culinary Practices Luxury kitchens extend beyond design to embrace sustainable culinary habits. High-end composting solutions, such as the Lomi Smart Composter, transform food waste into nutrient-rich soil. Built-in herb gardens, like those from Urban Cultivator, allow homeowners to grow fresh, organic herbs year-round. Wine preservation systems from EuroCave ensure that fine wines are stored efficiently, reducing spoilage and waste.  A luxury kitchen should be a reflection of refined taste, innovation, and environmental responsibility. By embracing eco-luxury, homeowners can enjoy the finest in kitchen design while making a lasting impact on the planet.

SAN JOSE — A 287-unit San Jose apartment complex with income limits was purchased for more than $80 million in a deal that points to rising values for residential properties in the Bay Area’s largest city.  According to documents filed on Monday with the Santa Clara County Recorder’s Office, Foxdale Village was bought for $84 million by Post Real Estate Group and Affordable Housing Access.

PLEASANTON — With the Alameda County racetrack and stables set to close next month , there is a growing concern about an estimated 5,000 residents and workers, many of them low-income and minority, who could be forced to move. Not only do horses need to be off the premises by March 25, but so do the hundreds of families who reside in the RV park at the county fairgrounds. At a meeting this month packed with tearful horse trainers, owners and enthusiasts, Alameda County Agricultural Fair Association officials acknowledged how disruptive it could be for students whose families may have to move out of the Pleasanton Unified School District in the middle of the spring semester. RELATED: Pleasanton horse trainer reflects on the end of an era The racing community has been up in arms over the closure, asking county officials to give them additional time. “You’re asking people to uproot their families in the middle of a school year,” one woman said while choking back tears during the Feb. 11 meeting of the fair association’s ad hoc committee. “A lot of those students are immigrants, they’re already at a disadvantage … I feel very strongly about you guys displacing so many people in today’s social environment. It’s high tension everywhere, and this is another thing adding to it.” Whatever happens with horse racing, however, county Supervisor David Haubert said something must be done to help the families, many of whom work at the fairgrounds and stables. “I think that people should be allowed to stay, retain their jobs, retain their housing, retain their children’s place in school – at least until school lets out in June,” Haubert said in an interview. “I just don’t see the wisdom in putting people out of work, and moving families that may turn homeless, and yanking children out of school. It shouldn’t happen if we can avoid it. It would be a shame.”

Since the COVID-19 pandemic began nearly five years ago, the number of houses for sale in the Bay Area and across the country has been at historic lows while demand from buyers has been relentless, pushing home prices to record levels . But new data out this week shows the number of homes for sale in the Bay Area last month started to approach pre-pandemic levels, a sign that buyers could have more options this year. This was the best January for the number of active listings in the region since 2019, according to numbers from Realtor.com. A total of 4,142 homes were listed across San Francisco, Alameda, Contra Costa, Marin, San Mateo and Santa Clara counties last month, up 23% from a year earlier.  “We’re already in an upswing this year,” said Jordan Levine, chief economist for the California Association of Realtors. “This boost in supply will help to set the housing market up for a better 2025.”