Plans are underway to convert 40 Exchange Place, a 20-story office building at the corner of Exchange Place and William Street in the Financial District, into 382 rental apartments. The development will include a mix of market-rate and affordable units, along with ground-floor retail space and amenities for residents. According to a Newmark press release, Derby Lane has provided $191.5 million in construction financing, arranged by Newmark, to support GFP Real Estate's office-to-residential conversion at 40 Exchange Place.
The towers would produce 768 residential units at 35 South Second St. in downtown San Jose, according to the just-approved proposal that was submitted by global mega-developer Westbank, which has proposed several projects in the city's urban core. City planning administrators approved the residential proposal this week. One tower would be 28 stories and the other would be 27 stories, according to the proposal. The housing would rise on South Second Street between East Santa Clara Street and East San Fernando Street.
