SAN JOSE — The empty San Jose site of a high school that had abruptly shut its doors is poised to gain new life as a community services hub following a property deal by a busy South Bay real estate executive.
The property, located at 1402 Monterey Road just south of downtown San Jose, is now under the ownership of a nonprofit affiliate controlled by Peter Pau, an entrepreneur whose projects include the creation of a new Cupertino neighborhood that would replace a moribund mall.
The Pau-led entity paid $12 million to buy a ground lease that gives the nonprofit control of the property, documents filed on Aug. 20 with the Santa Clara County Recorder’s Office show. CBRE, a commercial real estate firm, arranged the deal, legal filings show…