Several months after it shut down a temporary sales office, CIM’s downtown San Jose residential project, The Globe, is finally opening up but, to the disapointment of many, for lease. In an email sent out over the weekend, The Globe announced that it would be leasing out 32 units beginning November 10, 2007. It is unclear whether the remaining units would be for sale or leased out at a later time.

The Globe, located next to Zanotto’s Market, has been mired in delays for as long as this project has been in the works. At the beginning of this year, The Globe opened a sales trailer to the excitement of many hopeful downtown residents. Sales brochures were handed out by the sales team along with descriptions of floor plans, preliminary pricing, and estimated move-in dates. As construction forged ahead in the spring, The Globe’s momentum continued to grow. The sales trailer shut down and a permanent sales office within the structure was supposed to open shortly thereafter. We waited. And waited. And waited. Months later, a sales office still never opened. The tough part for many who have been long awaiting The Globe’s opening was the not-knowing part. Not knowing when it would open. Not knowing what the delays were. Not knowing why The Globe just sat there. Empty.

Now, atleast The Globe is opening up and leasing out units. Keep your fingers crossed though. I’m curious to see what will happen with the remaining units that will not be initially leased out. There are numerous theories as to why The Globe has been delayed for so long and maybe nobody but the developer really knows why. Maybe the developer will rent out the units for a a few years and then put them up for sale. This is what happened over in Santana Row. For now though, if you are looking to live in downtown San Jose and rent a luxury apartment . . .

The Globe
25 South 3rd Street
Downtown San Jose

One Bedroom Units: Starting at $1,584 per month
Two Bedroom Units: Starting at $1,868 per month