The City of San Jose gave an emphatic “Yes!” to revitalization and growth this week when the City Council voted unanimously in favor of Google’s historic Downtown West project.
This multi-billion-dollar venture--one of the most monumental community-integrated development projects ever--is a shot in the arm for all of us who see the great potential downtown San Jose offers.
The Council’s approval means Google can move forward with developing an 80-acre village, replete with blocks of new housing units, office buildings, retail and parks. The massive project, located near the Diridon train station, may bring as many as 75,000 jobs to the city.
This is exciting news for us at Urban Catalyst, as we have eight projects less than a mile from Downtown West; in fact, three in our first fund are 500 yards away from the first phase of construction.
In all, Google will deliver $200 million in benefits to the community and construct 1,000 units of affordable housing--a full 25 percent of the total housing built. And the company is creating a $155 million community fund for helping homeless residents, including offering job training.
Google was rightfully praised at the meeting. “This is indeed the gold standard for how a private developer can work together with the city and the community to truly be able to benefit everyone involved,” Councilmember Raul Peralez said.
Mayor Sam Liccardo said: “I want to thank everyone at Google for seeing this possibility. Google has done far more than follow the rules, they’ve made a massive commitment to our community.”
Nanci Klein, San Jose’s Economic Development Director Nanci Klein, was nearly in tears, and said the Google project “sets a very high bar for all that is yet to come.”
City officials were not alone in their support for the Downtown West development.
A CNBC headline last week reads: “California Governor Newsom gushes over Google as he signs real-estate bill on site of future mega-campus.” The bill Newsom signed was SB7, which will enable speedier construction of developments like Google’s.
Perhaps most important, Google’s Downtown West is overwhelmingly supported by the public. A recent poll sponsored by the Silicon Valley Leadership Group showed 70 percent of surveyed voters support the project, according to Patch.com.
We at Urban Catalyst are thrilled to see companies like Google stepping up to build and revitalize downtown San Jose. You can be part of downtown San Jose’s revitalization through our Icon/Echo project.
Contact us today to learn more.
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