SJSU is officially taking over the Signia (former Fairmont) South Tower

San Jose State University and developer Throckmorton Partners have agreed to acquire Signia's South Tower. Throckmorton will purchase the building for $73 million and lease it to SJSU. Another $40 million will be spent on improvements and fees. 

This building was previously know as the Fairmont Annex and has Morton's and Bijan Bakery on the ground floor today. Going forward the building will be known as the Spartan Village on the Paseo.

SJSU will convert 264 hotel rooms that are occupied some of the time to housing for 700+ students that be there for most of the year. It should have a net positive effect on foot traffic and density around Plaza de Cesar Chavez. It will also force SJSU students to go through several blocks of Downtown San Jose as they travel to and from campus, giving them more exposure to the area around campus. It's a great location and any student would be lucky to have their dorm in this building.

Renovation of the lobby and second-floor mezzanine into a student-centric environment will begin almost immediately with amenities such as a large dining area, fitness center, a games room, and co-learning spaces. 

I have been wondering what will happen to the giant bridge that connects the Signia's main tower to the South Tower. Turns out that is part of the sale as well and it will become a study lounge, perhaps one of the coolest places to study in any SJSU dorm. There is also an underground tunnel between the buildings used by housekeeping. It's not clear if that will be incorporated in some way as well.

Unlike new construction, students will not have to wait years for the building to arrive. The dorms should be ready for the 2024-2025 academic year, which starts next Fall. 

Source: The Mercury News