SAN JOSE — A San Jose site that has suffered from blight and was never developed despite having a prime location where hundreds of housing units were proposed now faces foreclosure and an auction.
The property is owned by an affiliate controlled by China-based Z&L Properties, which once owned a real estate empire consisting of four downtown San Jose housing development sites and a south San Jose ranch nestled on pristine hillsides and valleys.
The potential foreclosure imperils Z&L’s ownership of an old Greyhound bus terminal with addresses of 60 South Almaden Boulevard and 70 South Almaden, according to documents filed with the Santa Clara County Recorder’s Office…