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San Jose MXU TOD Receives $64M Development Financing
PCCP, LLC provided a $63.8 million senior loan to San Jose-based Hudson Companies for the development of Vespaio, a seven-story mixed‐use project in San Jose with 162 residential units and 39,042 square feet of retail and commercial space. Located at 138 Stockton Ave. just west of downtown directly across from Diridon Station, the project commenced construction and is expected to deliver in 2019.
Vespaio will consist of three floors of commercial space fronting Stockton Avenue, two levels of structured parking, and a luxury amenity package on the third floor that includes a business center, fitness center, resident lounge and test kitchen, gaming area, pool, spa, outdoor cabanas, common area rooftop deck with BBQs and fire pit.
PCCP’s Jim Galovan says, “PCCP’s loan will provide financing for construction and marketing funds for lease-up of the residential and commercial spaces.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development




