Downtown Progress Update
Community and Economic Development Committee
CED Committee June 27, 2022
Item d(1)
Presenter: Blage Zelalich
Framework for a Vibrant City Center
Downtown Growth Area
Downtown By The Numbers
32,000
Jobs
36,000 students
from diverse
backgrounds
studying at
San Jose State
University
19.4%/$4.36
Overall office
vacancy rate/Per
square foot asking
rent
$113,332
Median
Household
Income
23,000
Residents
9M/2.6M SF
Current office
base/ Square
footage under
construction
Sales Tax
recovery
City-wide/
Sales Tax
recovery
Downtown
-1% / -38.5%
Work Environment
Notable
Transactions
The Pavilion
Westin San Jose
15 E. Santa Clara St.
Notable Leases
Poly
Raymond James Financial
Okcoin
Hillbrook School
Commercial Development
Under Construction
2.6M square feet
13K Projected
Employees
113K square feet of
ground-floor commercial
Entitled
4.4M square feet
Entitlement Review
2.4M square feet
Adobe
Platform 16
Creative Office Rehabs
1 West Santa Clara
Bank of Italy
Camera 12 2 West 15 E. Santa Clara
1 West Santa Clara
Commercial Development
Boston Properties Almaden Blvd.
Arbor
Dinapoli Almaden Blvd.
200 Park Ave.
Urban Living
1,522 residential
units completed
217 units currently
under construction
1,000 units in preconstruction
review
5,300 units secured
entitlements or in
planning review
188 W. St. James
Firestone
Arya
Garden Gate
Shopping and Dining
Shopping and Dining
Arts and
Entertainment
Arts and
Entertainment 73 Outdoor Events...
Farmers’ Market in SoFA
South Frist Fridays + Street Mrkt
Music in the Park SV PRIDE
Jazz Summer Fest SoFA Festival
Starlight Cinemas CityDance
Christmas in the Park Downtown Ice
VivaCalleSJ WinterWonderland
Museums, Galleries & Performances
SAP & Convention Center Events
Coming Soon…
Public Realm
Guadalupe River Park
Pellier Park
Public Realm
Blage Zelalich
Deputy Director, Business Development
Office of Economic Development +
Cultural Affairs
[email protected]