The Silicon Valley Real Estate Breakfast: Our City & Real Estate Development Landscape

From left: Hoge Fenton Managing Shareholder Dan Ballesteros, Shareholder Sean Cottle, Real Estate Chair Steven Kahn, City Manager Jennifer Maguire, Deputy City Manager Rosalynn Hughey, Director of Economic Development and Cultural Affairs, Nanci Klein, Attorney Dennis Zell, and San Jose City Attorney Nora Frimann, former Hoge Fenton Managing Partner.

Hoge Fenton hosted our Silicon Valley Real Estate Breakfast on September 21, 2022, at the new location -Three Sisters Hall in the San Pedro Square Market.  We were pleased to feature the top female officials of the City of San José: Jennifer Maguire, City Manager, Rosalynn Hughey, Deputy City Manager, and Nanci Klein, Director of Economic Development and Cultural Affairs.

The city officials discussed how economic ailments spawned by the coronavirus are still afflicting downtown San Jose, where sales taxes have cratered but shed light that Google’s transit village could help to ease the urban core’s maladies. They encouraged our audience to get workers back into the office and support local Downtown San Jose businesses during the workday.

We learned that the following key large office complexes are under construction downtown totaling over 2 million square feet combined:

• 200 Park Ave., 965,300 square feet, a 19-story tower at the corner of Park Avenue and Almaden Boulevard being developed by Jay Paul Co. Potentially 4,800 people could work in the landmark tower.
• Platform 16 phase one, 390,000 square feet, the start of a tech campus that could eventually total 1.1 million square feet at 440 W. Julian St. being developed by Boston Properties. An estimated 1,900 could work in this initial building.
• Adobe’s fourth office tower at 333 W. San Fernando St. would be a dramatic expansion of the tech titan’s current three-building headquarters. The new 18-story North Tower, as Adobe describes it, totals 700,000 square feet and would enable the company to double its headcount downtown. The tower could accommodate 3,000 people. Adobe aims to move into the tower during the first half of 2023.

For more details, read the article COVID woes afflict downtown San Jose, but Google village stokes hope by George Avalos, business reporter for the Bay Area News Group.