Bisnow Silicon Valley Multifamily Recap
As Silicon Valley and the surrounding Bay Area remain the country’s most desired destination for tech companies, the region continues to endure a devastating housing shortage and immense influx of traffic. To provide insight on this topic, Polaris Pacific was invited to speak at Bisnow’s recent Silicon Valley multifamily event to discuss the area’s opportunities and challenges for future transit-oriented developments.
Polaris Pacific touched on why the community’s perception on housing is changing and how the new outlook is driving the need for denser communities near transit. The company shared that more homebuyers are seeking smaller homes near transit in an effort to enjoy the surrounding walkable areas with their families on the weekends.
Event panelists went on to discuss efforts to combat the area’s traffic and low inventory levels. According to experts, corporations such as Silicon Valley Leadership Group and the Bay Area Council have disseminated plans to help aid the congestion by issuing a statewide housing bond and nine-county traffic initiative. Developers are also working toward solving the housing and traffic issues by building various new mixed-use transit-oriented neighborhoods up and down the peninsula.