Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts

Tuesday, May 6, 2025

Downtown San Jose’s First Extended-Stay Hotel Opens

Downtown San Jose is about to add another option to it's suite of hospitality options with the grand opening of the Marriott TownePlace Suites. It’s the city’s first extended-stay option, a sleek eight-story building with 175 rooms designed to tackle one of San Jose’s biggest challenges: a tight hotel supply. With only about 4,500 rooms downtown—compared to San Francisco’s whopping 30,000—San Jose has struggled to keep up with demand during massive events like the Nvidia GTC conference, which recently brought over 25,000 visitors to town. This new addition is a $98 million project by local developer Urban Catalyst.

What makes this hotel stand out is its focus on longer stays. Every room comes with a kitchenette, perfect for travelers who want to settle in rather than just pass through. Onsite laundry and a rooftop deck with stunning views add to the appeal, offering a practical yet elevated experience for business folks, families, or anyone sticking around for more than a quick trip. It’s a fresh alternative in a city where hotel options have been limited, often pushing visitors to nearby areas. Now, Downtown San Jose can keep more people in the heart of the action.

The benefits go beyond just the guests. City leaders see this as a win for the local economy, with the hotel expected to pull in around $1 million a year in Transient Occupancy Tax revenue. That’s money that can fuel more growth and improvements in the local community. With big events straining the San Jose's current hotel capacity, this is a step toward hosting even more of them... especially with the Super Bowl and World Cup coming next year.

Source: SVBJ


Monday, April 21, 2025

Massive Residential Project Proposed at 2518 Mission College Blvd.

A 1,792 apartment project spanning nearly 3 million SQFT is planned on a 25.74-acre parcel in the Freedom Circle Area by Irvine Company. There is not much information about the project yet besides the images below.

Sadly the project will only feature 3,500 SQFT of retail, so you cannot call it a true mixed use project. You do have offices, hotels, and a handful of restaurants such as Birk's and Pedros in the area.

We'll post more info as soon as there is more information.



Wednesday, April 9, 2025

Alviso's Tech Transformation: A New Data Center Hub

San Jose's northern district of Alviso is stepping into the spotlight with a bold new proposal. A massive data center is on the horizon, set to transform a patch of land once dreamed up as part of an entertainment district.

Located near the popular Topgolf venue, this proposed development includes a three-story data center spanning 295,100 square feet, paired with a three-story energy supply facility adding another 167,400 square feet—totaling a whopping 462,500 square feet. This is a step up from an earlier proposal of 346,900 square feet, showing growing ambition for the site.

The story of this land adds a fascinating twist. Back in 2018, Terra Ventures envisioned an entertainment district here, complete with restaurants, shops, hotels, and the Topgolf that’s now a local favorite. While most of that vision didn’t materialize—one hotel site at 7 Topgolf Drive even faced foreclosure—the area is now pivoting to tech and residential growth. That same hotel site is being considered for 780 affordable apartments, proving San Jose’s ability to adapt and thrive.

Challenges like securing enough electricity for the data center and financing affordable housing are real, but they haven’t slowed the excitement. This project could help draw more tech giants, spark job growth, and solidify San Jose’s place as a global tech powerhouse.

Source: The Mercury News



Monday, April 7, 2025

New Affordable Housing Project on The Alameda in San Jose

A new affordable housing project takes shape near Downtown, offering a beacon of hope amid the city’s ongoing housing challenges. As reported by The Mercury News, this development is more than just a collection of apartments—it’s a bold move to make San Jose a more inclusive, thriving place to live.

What sets this project apart is its use of advanced construction techniques, which could pave the way for faster, more cost-effective housing solutions across the region. The units are built offsite leveraging modular construction, and then assembled like LEGOs at the final construction site. The apartments are tailored to low-income residents, featuring a variety of unit sizes to accommodate different families and individuals.

The project will come in at seven stories and include 120 parking spaces, some of which are below ground. Amenities would include a rooftop deck, gym, and a lounge area.

Beyond the homes themselves, this project promises a boost to San Jose’s economy. Construction will generate jobs, and once residents settle in, local businesses near Downtown are likely to see increased foot traffic and spending. This ripple effect underscores how affordable housing isn’t just about shelter—it’s about strengthening the entire community. San Jose’s growth as a tech and innovation hub depends on its ability to support all its residents, and developments like this help make that vision a reality.

This effort fits into a broader wave of progress in San Jose. From workforce housing to mixed-use projects, the city is embracing creative solutions to meet its housing needs. Partnerships between developers, city leaders, and community groups are driving these initiatives forward, proving that collaboration can yield real results. As San Jose evolves, it’s carving out a reputation as a city that balances ambition with accessibility—a place where opportunity isn’t just for the few, but for everyone.