From the article:
A 21-story residential tower is marching toward reality in Downtown San Jose. KT Properties Inc. and Essex Property Trust filed a site development permit Oct. 15 for a 285-unit, 261,000-square foot mixed-use apartment building located at 1 South Market, according to public records. In July, the Business Journal reported that KT Properties had initiated talks about the project with the city. Now it appears the developer is ready to move forward. “The rental market is red hot,” said City Councilmember Sam Liccardo, whose District 3 includes the .97-acre site. “And developers recognize they can build in the downtown at a very high density and encounter a city that will encourage them to build higher rather than lower.”
