SAN JOSE — The purchase of two West St. James Street housing towers by Machine Investment Group offers hope of a turnaround for the troubled project.
The New York City-based group aims to quickly orchestrate a rebound for the double-tower complex at 188 West St. James St., which consists of more than 600 residential units.
China-based Z&L Properties, acting through an affiliate, had been the owner and developer of the two towers. The deal with Machine Investment Group marks a major milestone in the unraveling of the Z&L real estate empire in downtown San Jose…