Bowling Alley and 24 Hour Fitness Coming to Eastridge

Eastridge Mall is adding two new non-shopping tenants to spice up the retail mix. The first is an 18-lane Round1 bowling alley. This is a Japanese chain that is known for incorporating karaoke rooms, arcades, and billiards into their facilities. The Eastridge Round1 will be about 50,000 SQFT. The second tenant is a 24 Hour Fitness that will come in around 40,000 SQFT. Both of these will be located in the space formerly occupied by Bed Bath & Beyond and it looks like they are under construction right now.

Source: SVBJ, Hat-tip to Arnold Kwok

Signature Flight Support Breaking Ground Today at SJC

Signature Flight's $82 million private jet terminal at SJC breaks ground later today. It will house Google's fleet as well as the jet fleets for other large Silicon Valley businesses. This means more tax dollars for the City and improved convenience for local companies. More info below:

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A new era  begins in San Jose - on Friday, February 28, Signature Flight Support will be breaking ground at Norman Y. Mineta San Jose International Airport and begin development of a new facility that will serve Google and other Silicon Valley companies.

A powerful uptick in the private jet industry for companies of all sizes has spurred demand that is now being met in Silicon Valley - a strong need for hangar space, maintenance, and crew and passengers amenities in key worldwide locations.

Key competitive differentiators for business aviation:

— Business aviation companies reach over 10 times the number of U.S. airports than airlines do
— Users can reach multiple destinations in one day
— Business aircrafts increase employee productivity thanks to cabin configurations that are conducive to individual and team work

Signature Flight’s $82 million investment will help Silicon Valley companies stay competitive, will generate hundreds of new jobs and garner more than $3 million in annual revenue for San Jose. The company will also be an integral part of the community by partnering with local organizations such as the Tech Museum and Computer History Museum.

Eating San Jose - New Local Blog!

The San Jose Blogosphere grew a little bit larger this month with the addition of Eating San Jose. I'm sure you can guess what most of the posts will be about based on the name. The creator of the new blog, Dale Federighi, moved from the East Bay to Willow Glen in 2009 and calls it one of the best decisions he's made so far. He's a software developer, family man, skateboarder, food enthusiast, and now of course a blogger.

The first post on Eating San Jose is about KANSUI, a new pop-up Ramen restaurant in the Willow Glen Hay Market. Dale raved about their Tonkatsu Ramen, Spicy Red Miso Ramen, Okonomiyaki (photo below), and Pickled Salmon. Check out the detailed post right over here. I also added a permanent link to Eating San Jose on our blogroll over to the right.

Welcome to the community Dale, looking forward to your future posts!

Vacant Office Buildings Getting Free Gigabit Fiber

Well, well, well... when it rains it pours. Last week I happily posted about Google's consideration of San Jose (and other Silicon Valley cities) to be part of the next Google Fiber expansion. This would bring inexpensive ultra-fast internet to homes, businesses, and schools. Now it looks like the City of San Jose is initiating a new program that would use Fiber as a carrot to help fill vacant office buildings.

The City currently has some excess capacity in their internal Gigabit Fiber network. The Office of Economic Development is proposing that we use that extra capacity to wire up to six buildings with over 30% vacancy as an incentive for companies to fill those spaces. The ultra-fast internet would come free of charge, but the building owners would have to pay for any up-front costs to connect the building to the Fiber.  The out of pocket costs to San Jose would be nil, but the upside could be more companies in San Jose and increased tax revenue.

So far three building owners are interested: 2 North First, 4 North Second, and 75 E. Santa Clara.

Source: SVBJ

First to Market is Officially Open!

First off, a huge thank you to all those that came out to the restaurant preview last Friday (and of course to Jen for setting up the event). The hottest new restaurant in Downtown San Jose is officially open to the public today! First to Market is owned by San Jose locals Jenn Lin and Joe Gradillas (co-owner of Singlebarrel); the head chef is Domingo Wolbert. These are people that are passionate about San Jose and want to make SoFA a real destination.

The food combines traditional American comfort food with some modern twists. You can see some of their menu items in the photos below. They will even have some signature items featuring wild game, such as Bison Tartare with Quail Egg and Pineapple Arugula Salad. I had a chance to sample their menu already (twice) and have to say this place is phenomenal. Come try it out before it turns into Singlebarrel and you have to stand in line for 45 minutes to get in! =)

Given that First to Market is located in the heart of the SoFA District, they are going to participate and contribute to the local art scene. One of their walls will be dedicated to a local artist each month. The first artist to be featured is none other than one of our bloggers, Jen Bullock OwYoung!

First to Market is located at 399 S. 1st Street. The restaurant is below Agenda and immediately above Singlebarrel. If you are too impatient to find street parking, the Convention Center garage is right across the street.

Bison Tartare with Quail Egg and Pineapple Arugula Salad

Maple Glazed Pork Belly and Beans

Pimento Mac and Cheese with House Cheese Curds

Bourbon Brisket Pot Pie with Buttermilk Biscuit

Lattice Apple Pie

Construction Starting on 554-Unit North San Jose Apartment Project

The Golden Triangle is the area bound by Highways 101, 237, and 880. It is the largest tech cluster in the world and where you'll find most of San Jose's high-paying jobs. In recent years, several dense housing projects have sprung up right in the middle of the triangle and the trend is continuing.

Equity Residential has just wrapped up the Domain apartment project, a 444-unit, $155 million project right across the street from the @First shopping center. Domain has the distinction of being the largest modular construction project in the area. The apartments were prefabbed and then assembled like lego pieces, which explains how the building went up so quickly.

Now Equity is about to break ground on Tasman Apartments, an even larger development across the street from Domain. This one will clock in at 554-units and cost $215 million to build. It looks like the bulk of the building will be a respectable six-stories.

The amenities list is quite long: roof deck (love these), pool, spa, fitness center, bike-repair shop, BBQ center, clubhouse, and a game lounge. Equity is even throwing in two parks: the five-acre Domain Park and a one-acre park at Tasman Apartments in 2015.

The location I would say is ideal. Not only is it close to jobs, but Light Rail is nearby, @First is across the street, it has easy access to Highway 237, and the new Stadium (plus related projects) are 5 minutes away. The only thing I would have liked to see is some retail on the ground floor of these buildings. All in all, this should be a solid addition to the area.

Source: SVBJ

San Jose Chick-fil-A Awarded LEED Silver

The first Chick-fil-A in Silicon Valley has also become the first restaurant in San Jose to achieve a LEED Silver Certification (Leadership in Energy & Environmental Design). Located at 53 Headquarters Dr. in the @First shopping center, the restaurant opened in 2012 to the longest lines I have ever seen for any restaurant opening.

This Chick-fil-A includes water and energy efficiency features as well as air quality control and waste diversion efforts. I'm sure it helped that they were able to build the restaurant from the ground up instead of having to convert an existing space for their needs. They also received LEED points for being easily accessible via VTA buses and Light Rail.

Congrats to this Chick-fil-A and hopefully we'll see many more LEED certified restaurants in San Jose in the near future.

Saturday Stats: San Jose Metro Ranked as #2 Top Performing Rental Market in the Country

We all know how expensive it already is to live in Silicon Valley today, but it looks like rents are continuing to climb. In 2013, the national average for apartment rent rose 5.1% to $1,093 per month. The list of metros across the country where rents appreciated the most was entirely dominated by the Bay Area. In fact, the region took the top 3 spots in the list, with San Jose coming in second:

• Santa Rosa Metro: 12.2% growth (average rent of $1,438)
• San Jose Metro: 10.1% growth (average rent of $2,153)
• San Francisco Metro: 9.8% growth (average rent of $2,044)

With the local economy and job market continuing to heat up and the demand for housing outpacing supply, we may see similar rent increases for 2014.

Source: SVBJ