Bisnow Silicon Valley Construction & Development Forecast Recap
Industry experts are excited about the growth potential that’s to come for the city of San Jose, the 10th largest city in the United States. Polaris Pacific Partner Paul Zeger joined local industry experts on stage at Bisnow’s “Silicon Valley Construction Development Forecast” event to discuss the area’s impending “Google effect,” as well as topics concerning construction challenges, rising costs, new development, financing, tech and trends.
The San Jose City Council’s approval of more than $100 million dollars in land parcels to Google could eventually reach 8M SF and bring 20,000 jobs to the area. Experts foresee the tech giant setting the course of downtown for the next 50 years. Historically a civic and financial district neighborhood, San Jose’s downtown area has seen a renaissance in recent years with more housing and mixed-use developments that Google would advance further.
Locally, there are concerns about what having a company of Google’s size would mean for the city and that of its housing market, spiking housing markets and driving out tenants, however experts are turning to Google to thoughtfully address all aspects and drive creative solutions.