Months after work crews removed tattered tarps and worn wraps from a languishing, historic former church in downtown San Jose, preservationists are worried city officials have lost urgency around protecting the building for the long term. The former First Church of Christ Scientist near St. James Park has been exposed to public view since late...
Silicon Valley office vacancies stuck in double digits
Silicon Valley’s offices are rapidly emptying out, as the paradigm-shifting remote work culture brought on by the pandemic continues to affect the commercial real estate market. A December report from the research arms of Joint Venture Silicon Valley and commercial real estate firm JLL Silicon Valley shows demand for office space in the third quarter of...
San Jose residents are unhappy homeowners
San Jose is one of the worst U.S. cities for someone looking for the most bang for their buck on housing. According to a report from All Star Home, San Jose ranks second worst when it comes to homeowners’ happiness with their homes and neighborhoods, compared to the price they pay to live there. San...
Santa Clara County has the second most expensive U.S. housing market
Santa Clara County is the second most expensive county in the nation to buy a home, yet demand is still strong. The county’s No. 2 ranking helps secure the Bay Area as the most expensive metro area in the U.S. for the eighth consecutive year, according to PropertyShark, a blog covering real estate trends. Its latest...
Silicon Valley’s hottest housing markets lose residents
Median home sale prices have skyrocketed in Silicon Valley’s hottest housing markets and residents are moving out. A new study by Joint Venture Silicon Valley found the region’s median home sale price reached a peak of $1.53 million in 2022, bolstered by three top competitive markets — Fremont, Santa Clara and Sunnyvale. Heidi Young, senior...
How San Jose State wants to house teachers
With an exodus of teachers fleeing pricey Silicon Valley, the city’s largest university is weighing how to create affordable housing for educators on district-owned land. San Jose State University envisions partnering with public school districts across Santa Clara County to combat the housing crisis and the soaring cost of living dilemma that has driven teachers...
Santa Clara County reports alarming property value trend
Santa Clara County may be about to experience one of its worst declines in property value in 15 years. New data from the Santa Clara County assessor’s office shows a significant number of properties declining in value from 2,595 last year to 19,325 this year. Aside from a brief uptick in 2020 during the first...
San Jose greenlights hotel conversion for student housing
San Jose leaders have reluctantly agreed to a plan to convert hundreds of hotel rooms into student housing amid concerns it will harm tourism. The San Jose City Council unanimously approved a deal yesterday between San Jose State University and the owner of the former Fairmont Hotel, rebranded as Signia by Hilton last year, to sell...
Downtown San Jose office vacancies hit 10-year high
Downtown San Jose’s commercial vacancy rates are the highest they’ve been in more than a decade, according to a new report. While development is slowly increasing across the city, real estate agents are struggling to find renters or tenants to fill the spaces. About 24% of commercial space in San Jose was empty during the...
Apartments could fill empty downtown San Jose storefronts
The owners of a luxury downtown San Jose apartment complex want to transform the building’s commercial space into more housing after struggling to find business tenants. Houston-based The Hanover Company is seeking approval at a San Jose Planning Director’s hearing on Wednesday to make the change in its building at 715 W. Julian Street, just off...