I think this is actually a good idea, and the 200+ units could always be converted back to condos in the future. Instead of waiting a couple years for the building to fill up, the strong rental market in the South Bay will likely fill up the building really quickly. That means more foot-traffic to support downtown restaurants and retail, particularly in the SoFA district. You can already see the difference that The 88 and Axis have made downtown, so this building can't fill up soon enough!
This is great news! There aren't any apartments in the downtown area this nice but I would hate to imagine how expensive the rent will be if they keep all of the amenities that were originally planned.
ReplyDeleteim curious how you found out about this... trying to gauge the timing for their opening and what rents might be.
ReplyDeleteFound out through the San Jose Business Journal, and I'm sure the rents won't be cheap. My guess is around $1500 for a 1bd/1ba and $2250 for a 2bd/2ba.
ReplyDeleteWhen will they be rented?
ReplyDeleteI heard from their sales manager that they plan to start moving in new renters buy the middle of this summer. Just in time to get some use of the awesome pool this complex has. I am sure the business around downtown San Jose are going to be very happy when all these new customers start coming in..
ReplyDeleteDanielle Contreras | Real Estate Consultants
I can't wait for that building to open, it will bring some nice activity to SoFA. We'll have the San Pedro Market opening up around the same time, so I think it's going to be a really good summer for Downtown.
ReplyDeleteFPI won the contract to manage the leasing. 2/2s will probably be in the $2300-2800 range.
ReplyDeleteIf that's the case, then it would be better. Converting condos to rentals is a really great idea.
ReplyDeleteapartment for rent makati
Condotels take a good number of condominiums in the Philippines and abroad. It's really convenient for people looking for a temporary place to stay in.
ReplyDeletemakati condos
That's a very interesting. Residents in that condo might really consider converting it into rentals because of certain reasons.
ReplyDeletevirtual office