SAN JOSE — An effort to revive a housing project at the long-shuttered Greyhound bus station in downtown San Jose has surfaced in a court filing that suggests the property’s owner hopes to ward off a foreclosure of its delinquent loan, according to Santa Clara County and federal bankruptcy court records.

China-based Z&L Properties, acting through an affiliate, had proposed the development of two residential towers that would have produced a combined 708 units at 60 South Almaden Blvd. and 70 South Almaden Blvd.

Z&L’s affiliate, Standard Properties, now envisions a housing development on a smaller scale, a document on file with a U.S. Bankruptcy Court shows.

“Shifting from high-rise condominiums to a more financially feasible apartment medium-rise development” is Z&L’s preferred approach

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