I wonder how long it will be before we run out of open land for these massive projects. Ivanhoe Cambridge and Shea Homes are building 648 luxury apartments at 1500 Cottle Road in South San Jose, where Hitachi Global Storage Technologies used to be. This is a $171 million project with ground breaking expected in 2013 and sales starting in 2015.
Ivanhoe Cambridge is a Canadian pension fund, and they must really like us because they purchased four South Bay apartment communities last year and Kimberly Woods in San Jose this year. Their total investment in Silicon Valley is now $600 million.