A
high-profile housing project in downtown San Jose has defaulted on its loan, marking the end of plans to build hundreds of new residential units.

    The development, which was set to transform a former Greyhound bus terminal site into a massive residential tower, never got off the ground. The property at 70 South Almaden Avenue had been slated for a major overhaul but ultimately fell through due to financial issues with its owner.

    A loan for the project has now become delinquent, indicating that the owner is struggling to meet its financial obligations.