San Jose Development Update

We are launching a new regular communications feature  – a detailed update on development projects underway in San Jose. The update will provide details on new projects and updates on progress, and we include a link to a project-by-project spreadsheet with all the details. Here are some highlights:

Commercial: As of June of 2019, we are reporting on a total of 16.22 million sf under development

  • Planning Review – 7.6 million square feet of office construction are under Planning Review, including 4.8 million sf Downtown and 1.95 million sf in North San Jose
  • Entitlements – 4.96 million sf of office space are approved city-wide, including 2.67 million sf located in North San Jose
  • Under construction – 66 million sf of office space are currently under construction, of which 3.17 million sf are in North San Jose.

    MIRO under construction, from the 17th floor of City Hall.

Residential:  In this report, we cover a total of 15,952 sf:

  • Planning Review – 7,261 units citywide
  • Entitlements – 5,215 residential units approved
  • Under construction – 3,476 residential units city-wide, with 1,533 of these units in Downtown and projected to begin occupancy late 2020 through 2021.

Affordable housing project activity includes:

  • 152 units under preliminary review, located in Cambrian and Willow Glen
  • 202 units are new projects, on Balbach in Downtown, and on North First Street
  • 279 units in central San Jose have been Planning Approved.

We are also seeing more hotel rooms  in the pipeline:

  • A Hyatt House, a Hampton Inn/Holiday Inn Express, and a Resident Inn/Fairfield Inn & Suites by Marriott are under construction in North San Jose
  • A10-story hotel near Valley Fair/Santana Row is Planning Approved
  • Under Planning review for Downtown are a 24-story hotel that includes the old Montgomery Hotel, a 19-story hotel next to the De Anza Hotel, and a nine-story hotel with residential units on Stockton Avenue near Diridon Station
  • Two new hotels are proposed – a five-story hotel at Coleman Highline, and a 124-room hotel on De Anza Blvd in the West Valley.

The full report with all the details is available online.