Three Sixty Residences to Become Rentals

SAN JOSE, CA-The Three Sixty Residences, a condominium tower project in downtown San Jose, will be converted into a rental apartment building.

By GlobeSt News Hub | February 03, 2011 at 01:01 AM

SAN JOSE, CA-The Three Sixty Residences, a condominium tower project in downtown San Jose, will be converted into a rental apartment building. Harry Mavrogenes, redevelopment chief of the city, has welcomed the transformation.

Harry Mavrogenes' agency had sold the land in 2005 to Chicago-based Mesa Development for $10 million. Since the developer had failed manage the Three Sixty, US Bank has sold the construction loan of $119 million to Kennedy Wilson, who is now seeking city approval for the conversion. For the full story, go to Oakland Tribune.

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