Lenders have seized through a real estate foreclosure a San Jose site where a hotel was proposed but never built.
SAN JOSE — Lenders have seized through a real estate foreclosure a San Jose site where a hotel was proposed but never built, an unsettling sign that coronavirus-spawned economic ailments still afflict the Bay Area lodging sector.
North Star Hotel Development had proposed the hotel project on land it bought in 2019, paying $6.5 million at that time, according to county real estate records. At present, a commercial building occupies the 0.9-acre property at the corner of South De Anza and Sharon Drive.
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