The iconic Bank of Italy office tower in downtown San Jose might gain a new mission as a housing highrise.
SAN JOSE — The iconic Bank of Italy office tower in downtown San Jose may gain a new mission as a housing highrise, a conversion being discussed with the forbidding backdrop of an office market that continues to wobble.
Dillabough, Arrillaga and Westbank declined to comment or couldn’t be reached to discuss the situation. “When the office markets start their inevitable rebound, downtown San Jose housing will provide a rich vein of talent for urban employers and those who seek the excitement of an urban environment but want to flee the safety problems in San Francisco,” Goddard said.
“This could be a spectacular conversion,” said Mark Ritchie, president of Ritchie Commercial, a real estate firm. “The small floor plates in this classic, beautiful building really lend themselves to residential conversions.” The discussions could mean that two long-time office towers across the street from each other might both become housing highrises in an uncertain commercial real estate market.
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