An office tower at a key downtown San Jose site may be converted to other uses, including housing.
SAN JOSE — An office tower at a key downtown San Jose site may be converted to other uses, including housing, a fresh sign of economic side effects in the wake of the coronavirus and an uneven return to the workplace.
DivcoWest now seeks a new mission for the tower, which is located at one of downtown San Jose’s most prominent intersections, First Street and Santa Clara Street. The three new potential uses could be multifamily residential apartments, co-living residential units, or a hotel. Co-living projects sometimes feature shared facilities such as kitchens or bathrooms.
Tech companies, alarmed by a slump in their business prospects and revenue, have begun to retrench and recalibrate their hiring and even embark on widening job cuts, a process that in turn has curbed their appetite for office space.The lack of housing has, so far, defied an array of government initiatives to encourage the development of new residences, especially affordable homes.
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