San Jose, CA ----  A new 18-story Class-A office building facing Plaza de CésarChavez in downtown San Jose has been proposed by DivcoWest Properties, a majorSan Jose-based real estate development firm.

The proposal will be considered by the San Jose Redevelopment Agency at its meeting on Tuesday, October 9.  Although the proposed project does not call for any public investment, the Redevelopment Agency’s approval is needed because of its relationship to City of San Jose downtown plans.

“This is a strong confirmation that the marketplace considers downtown San Jose a very desirable location for business,” said San Jose Mayor Ron Gonzales.  “I am delighted that we are seeing more exciting new projects that will add to our downtown and do not involve any public subsidy.”

The project would consist of approximately 500,000 square feet of office space at the corner of Park Avenue and Market Street.  According to Divco, the new project complements the other buildings in the Park Center Plaza complex, thereby creating a dynamic urban campus environment.

“We are very bullish about the future of downtown San Jose,” said Stephen Pilch, Divco’s chief operating officer.  “We believe a project of this caliber, with a prime location in proximity to transportation and nearby amenities, could appeal to a variety of tenants or a single user seeking a headquarters office.”

The project location is across the street from the Tech Museum, San Jose Museum of Art, and Fairmont Hotel, and offers excellent access to Highway 87 and 280, as well as to the planned extension of BART to downtown San Jose.