By San Jose Downtown Association
Downtown Dimension newsletter Vol. 25 No. 11, April 2014
With plans approved by the city, developer KT Properties hopes the largest downtown high-rise apartment complex to date – the 643-unit Silvery Towers at 180 W. St. James St. – might break ground by the end of the year.
“We’re excited to move this project forward,” said Mark Tersini, senior vice president. “It’s coming at the right time and will be a great addition to downtown.”
The more than $250 million project includes a 20-story western tower of 308 units, a 22-story, 335-unit eastern tower and 20,000 square feet of retail activity to be spread among its St. James, Terraine and San Pedro street borders, as well as retail “pavilion” facing the Fallon House and San Pedro Square Market. Architectural features include glass on the exterior, a modern “slash” through one corner of the building and a six-floor parking area, including three floors underground, on the 1.8-acre site.
The apartments will average about 900 square feet. They will be finished about two years after construction commences, Tersini said.
If this were the first to follow the 1 South Market and Centerra projects that already have cranes in the sky, KT Properties would be responsible for 1,284 of the total 2,165 downtown high-rise units, almost 60 percent. The brothers Tersini, Mark and Ken, helped start the downtown high-rise trend with the 329-unit Axis property off Almaden Avenue, and later provided the impetus for 312 units at 1 South Market.
The newest project is named after Silvery Tersini, Mark and Ken’s grandfather, who emigrated from Italy in the 1940s and worked as a cement contractor in Santa Clara County.