Wednesday, August 8, 2018

San Jose home prices rose three times faster than US average

If you feel like housing prices are getting out of control, that is because they are. The economy has been doing quite well and US home values have risen an average over 7.1% from May 2017 to May 2018. In the San Jose metro, home prices rose a staggering 20.4%. We topped the appreciation list for all large metros in the country. This is good news for current homeowners, but bad for anyone hoping to buy a home here in the near future. Higher prices also mean more turnover for residents, which negatively impacts community building.

The average mortgage is now 51.2% of our median family income--a shocking stat that shows how unsustainable these prices are without further increases in salaries, which are already the highest in the nation. On a positive note, rents have at least stabilized.

Source: SVBJ,


Tuesday, August 7, 2018

August 2018 Downtown Dimension

The AUGUST 2018 Downtown Dimension is now available at:
In this edition:
  • San Jose Downtown Association Executive Editor Scott Knies reflects on 30 years of Downtown Dimension, SJDA's newsletter, which subscribers can receive by mail or digitally.
  • Sharks sue over future arena parking.
  • Empty storefront registry program kick-started.
  • WeWork doubles downtown presence.
  • Bitcoin company opens Silicon Valley office in downtown San Jose.
  • Webcor also opens SV office. 
  • SJDA's summer events continue through August.
  • More buildings change owners.
  • Another housing proposal filed with City of San Jose.
  • SJDA hosts a candidates forum for Districts 7 and 9 at 8:30 a.m., Aug. 10 at San Jose Museum of Art.

Monday, August 6, 2018

Endless summer Wine Stroll at Santana Row

One of my favorite Santana Row events is back to close out the Summer. The Endless Summer Wine Stroll takes place on Thursday, August 16 from 6-9PM. A portion of the proceeds will benefit the Bill Wilson Center, a local nonprofit organization that provides support to homeless runaway children and adults.

The event features tastings from Santa Cruz Mountain wineries, lite bites, DIY succulent terrariums, store discounts, live music, and perhaps a few surprises. There will also be a silent auction to benefit Bill Wilson Center located in Santana Row Park. Tickets are $40 and are available inside the Santana Row concierge or over here




Wednesday, August 1, 2018

Playful People Productions Presents: INTO THE WOODS


Playful People Productions Presents:
INTO THE WOODS

Once Upon A Time, Stephen Sondheim and James Lapine wrote INTO THE WOODS, a magical musical comedy based on the fractured fairy tales of The Brothers Grimm. Sondheim and Lapines story asks the question: what would happen if all of our favorite storybook characters (and a couple of their own invention) ended up meeting one another in those magical woods? Sondheim and Lapine created a dark and funny story about a Witch's curse that condemns a Baker and his Wife to a life without children. The husband and wife so deeply want to have a child that they close up shop to embark on a quest through an enchanted forest to find the four items required by The Witch to break the spell: the cow as white as milk, the cape as red as blood, the hair as yellow as corn, the slipper as pure as gold.

There in the woods, the Baker and his wife happen upon the familiar storybook characters we all grew up reading and watching and pretending to be: Cinderella, on her way to the festival to dance with a prince; Rapunzel, held captive in a doorless tower by a wicked witch; Little Red Riding Hood, on her way to her Grandmothers house; The Wolf, who wants to eat Little Red Riding Hood for lunch; Jack and his magical beanstalk; and The Giant, who chases Jack down the beanstalk and back into the arms of his overly protective mother. We also encounter not one but two handsome princes, one mysterious man, a wicked Stepmother, two wicked stepsisters, Cinderellas indifferent father, the ghost of Cinderellas Mother, and many other magical and familiar characters you are sure to recognize. There's even an objective Narrator to help us keep all of these twisted stories straight. 

Will the Baker and his wife succeed in breaking the witch's curse? Will Cinderella marry her Prince? Will Rapunzel let down her hair? Will Little Red Riding Hood get to Granny's house in time to save her from the Wolfs belly? Will Jack slay the giant? And what happens after they all get their wish - even the Witch - and live happily ever after? Find out when Playful People Productions presents the full-length production of Stephen Sondheim and James Lapines INTO THE WOODS. Two casts (Adult and Teen) are under the direction of New York-based theatre artists Gary De Mattei and Caryn Hartglass, the same team that brought our audiences FIDDLER ON THE ROOF and last seasons THE MUSIC MAN. You wont want to miss this, the final show of our summer season. With a small ensemble of professional musicians playing live onstage, and lovely costumes and scenery, INTO THE WOODS is sure to be a crowd-pleaser for audiences ages 9 years old and above. 

All Shows at the Historic Hoover Theatre, 1635 Park Ave  San Jose, CA 95126
 
Show Times:

Thursday, August 2nd - 2pm and 7pm
Friday, August  3rd - 2pm and 7pm
Saturday, August 4th - 2pm and 7pm
Sunday, August 5th - 2pm and 7pm

Tickets available at www.playfulpeople.net
$15 attendees 12 and up and  $10 children 11 and under
 
Tickets at the door (30 minutes prior to curtain)
$18 attendees 12 and up and $12 children 11 and under
 

Tuesday, July 31, 2018

July 2018 Downtown Dimension

The JULY 2018 Downtown Dimension is now available at:
In this edition:
  • Google presents initial plans for west side of downtown, acquires more parcels and continues negotiations with City of San Jose for another nine parcels.
  • Henry Coca, Jr. reflects on 61 years of family-run business as a fitness club company acquires historic building at Second and Santa Clara streets (Note: This story is extended at sjdowntown.com/sjda-news.
  • Nineteen restaurants are involved in Dine Downtown Restaurant Week, starting July 13
  • Buddy's San Jose Music in the Park is July 12 with Toots & The Maytals.
  • SJSU President Mary Papazian reflects on growing university-downtown synchronicty.
  • A second option for downtown medical care materializes.
  • VTA proposes pilot program for railings along Second Street to minimize pedestrian-light-rail disruptions.
  • The latest downtown high-rise proposal, this time an office tower at 200 Park Ave.
  • New businesses, favored moments from the past and more.

Also available:

Downtown Dimension is a leading source for information about downtown San Jose news, events and businesses.  Subscribe with a simple email to sjda@sjdowntown.com, subject line: Subscribe

Monday, July 30, 2018

Triple tower and new theater proposed in SoFA!

The latest high-rise proposal in Downtown San Jose is easily one of the most ambitious. Invicta Towers would consist of three (!) high-rise buildings between South Second and First Street Downtown. This is the heart of the SoFA district with several museums and theaters within a one block radius. The San Jose Institute of Contemporary Art, San Jose Museum of Quilts & Textiles, and MACLA would all practically be inside of the project (they are buildings between the towers in the first image).

Invicta would include 667 residential units and 41,500 SQFT of tail and public arts exhibition space. Part of that space would be a 12,000 SQFT theater for live performances. Tower A would be 295 feet tall and 27 stories, making it the 2nd-tallest tower Downtown.

Each tower would have at least one restaurant on the ground floor, but the project will support a total of 4-10 dining options. Parking would be in a 4-story below-grade parking structure.

While not mentioned in the article, the renders have a swimming pool on top of each of the towers, one covered and two uncovered. It looks like the amenity space will be on the penthouse floors, which is a great idea given the views from this location and our weather.

Hats off to developers, which are stepping up and continuing to raise the bar on Downtown proposals. I'm keeping my fingers crossed that we'll get so see some more projects break ground before the end of the year.

Source: SVBJ



Thursday, July 26, 2018

San Jose International overtakes Oakland as the Bay Area's 2nd busiest airport

After 17 years trailing Oakland International in terms of passenger numbers, SJC's incredible growth rate has brought the airport back to 2nd place. SFO still retains 68.3% of the passenger market while SJC's slice of the pie is 15.9% and Oakland is now at 15.8%.

San Jose International had by far the highest growth rate year-over-year among Bay Area airports. Between May 2017 to May 2018, passenger growth was up 17.1%. SFO was up 7% and Oakland was up 4.1%. This means all three airports are doing better than 2017, but ours is fairing particularly well.

The growth creates both direct and indirect benefits to San Joseans. The most obvious benefit is more flights and routes, which also tend to drive prices down as competition increases. Since the airport is owned by the city of San Jose, this increases tax dollars going into our coffers. Spending from visitors also bolsters our economy and is especially significant on international routes--which now make up over 8% of passenger traffic.

Source: SVBJ



Tuesday, July 24, 2018

Electric car company grows in San Jose

NIO, a Chinese EV startup, is doubling down in North San Jose. They are moving into a 100,362 SQFT building at 3100 N. First Street, which was previously home to Broadcom and Hitachi. NIO already employs 520 people in San Jose, so this is a positive sign that more high-tech jobs will be opening up soon.

NIO currently only manufactures a single car, the EP9. It's a $1.2M supercar with 1,341 horsepower that currently holds the electric car record for the Nurburgring and for the fastest autonomous lap at the Circuit of the Americas. Like Tesla they decided to start with a halo car and work their way down to cars the masses can afford. Their next car will be a 7-seat SUV called the ES8 that will compete with Tesla's Model X.

NIO has already raised $1 billion and are rumored to be gearing up for a US IPO that could raise another $2 billion. It's clear that the auto industry is going to look a lot different in 5-10 years than it does today. If NIO turns out to be another disruptor like Tesla, then San Jose has a lot to gain as the brand grows.

Source: SVBJ