San Jose hotel development site is seized in real estate foreclosure

San Jose hotel development site is seized in real estate foreclosure

a year ago
Anonymous $pUsIN4hzN9

https://www.siliconvalley.com/2023/09/26/san-jose-hotel-real-estate-develop-build-economy-covid-loan-foreclose/

SAN JOSE — Lenders have seized through a real estate foreclosure a San Jose site where a hotel was proposed but never built, an unsettling sign that coronavirus-spawned economic ailments still afflict the Bay Area lodging sector.

The real estate group that lost ownership of the site in the foreclosure proceeding had proposed the development of a 132-room hotel but never managed to launch the construction.