"We have about 500 people on the waiting list to buy condos, said John Tashjian, managing partner with Centurion Real Estate. That's unheard-of interest. I've had 50, I've had 100. But I've never seen anything like this before."
"This can be fantastic for the downtown, said David Taxin, a partner with Meacham/Oppenheimer, a San Jose-based commercial real estate firm. You are going to get more people downtown. You will see a trickle-down effect for restaurants."
"Potentially, 700 to 900 people could live at 188 West St. James, depending on the number of people who might live in each unit, according to Tashjian. Having homeowners with equity in those towers means they will be living and owning downtown."
The 188 West St. James towers in downtown San Jose, consisting of 640 residential units across two towers, have generated unprecedented interest with approximately 500 people on the waiting list to purchase condominiums. Machine Investment Group and Centurion Real Estate Partners are marketing the unsold units, with the western tower being the initial focus. The complex could house 700 to 900 residents, creating significant economic benefits for downtown through increased foot traffic and support for local businesses. Real estate professionals anticipate a trickle-down effect benefiting restaurants and other establishments, while homeownership in the towers would encourage long-term investment and community engagement in downtown San Jose.
Read at www.mercurynews.com
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