SAN JOSE, CA-KT Properties of Cupertino and Eugene, OR-based Spring Capital Group have unveiled plans for the 22-story, 329-unit Axis condominiums, the city's first luxury high-rise condominium project, which will be developed on a site near the Hotel De Anza. The partners, who are developing the project via an entity called Almaden Tower Venture LCC, plan to begin sales in early 2008. The developers have opened a 2,000-sf sales center next to the construction site and have model units open on the fourth floor of the tower.
The units at the axis will include a mix of studios, one-, two- and three-bedroom condominiums and penthouses ranging from 655 sf to nearly 1,900 sf, with prices ranging from $400,000 to more than $2 million. KT and Spring capital expect initial occupancy of the phased project in May of 2008.
Axis will feature an outdoor common area with a pool, barbecue area and spa, plus a fitness center on the second level overlooking the lobby. The Axis is one of a number of new high-rise residences rising throughout Downtown San Jose, notes Paul Zeger, president of Pacific Marketing Associates, a Bay Area firm that is marketing the development.
As is the case with many downtown residential projects throughout the country today, the developers cite nearby shopping, dining and other amenities as selling points of the Axis. Kevin Sauser, a principal at Ankrom Moisan, notes that the Axis is close to streetside cafes and popular nightspots at San Pedro Square, as well as more restaurants and shopping, along with attractions such as the San Jose Museum of Art, the Tech Museum of Innovation, San Jose State University, the Center for the Performing Arts and HP Pavilion.
The Axis is being designed by Portland, OR-based architects Ankrom Moisan, with Webcor of San Francisco as the general contractor.
KT Properties was founded by Ken and Mark Tersini in 1988 as a real estate development and investment company focusing on small lot and infill residential projects. The company has been involved in approximately 4,800 units in the San Francisco Bay Area and Texas.
Spring Capital Group is a diversified private investment and real estate development company that has been engaged in land development, residential, hospitality, industrial and commercial projects throughout the Western US since 1973.
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