Nanci Klein, Director, Office of Economic
Development and Cultural Affairs (OEDCA)
Nathan Donato-Weinstein, Downtown
Manager, OEDCA
Chris Arkley
Downtown Coordinator, OEDCA
Downtown
Annual
Progress
Report
Community and
Economic Development
Committee
June 24, 2024
Item (d)2
Clean, Safe
and Housed
Public
Realm
& Activation
Arts &
Entertainment
Culture
Business
Development
& Investment
Downtown Growth Area
2 Downtown By the Numbers
23,000
residents
336
homes
being built
4,078
homes approved
$2,550
avg. 1-bedroom
apartment
Live
25,000
jobs in
the Downtown
core (BID)
31%
office vacancy
2M square
feet
recently
built office
$3.59 per
square foot
avg. office
asking rent
Work Play
265
OCApermitted
event days
+22%
City theater
attendance vs.
pre-pandemic
64.4%
hotel occupancy
(+27%)
2.1M
OCA event
attendance
3 Downtown By the Numbers: % of Mobile Device Pings as Compared to 2019 Source: University of Toronto School of Cities
2012 2013 2014 2015
City (Downtown
Core)
Weekend Office
Hours
Nights &
Weekends
Overall
Total
San José 103% 86% 116% 97%
San Diego 94% 69% 100% 80%
Oakland 100% 64% 100% 74%
San Francisco 99% 57% 95% 67%
Sacramento 87% 53% 93% 66%
4 Source: University of Toronto School of Cities, 2023
Business Development and Investment: Office Leasing, Construction, Sales Office Development
• 200 Park completion
• CityView Plaza
planning
• Platform 16 pause
• 303 Almaden and
Market Square
trades
• Retention visits
Office Leasing
200 Park Ave.
5 | Business Development: Ground-Floor Commercial
Urban Putt
Rollati Ristorante Elyse
Purple Lotus
Familgia Meduri Poor
House Bistro
The Italian Cellar
6 | Business Development: Downtown Pop-Up Program
Plant Slut
Suenos: Cositas Contreras,
La Paloma Imports, MiGi Cera Candles Bad Witch Crystals 7 Business Development and Investment: Residential Activity Trends and Tidbits
• Interest rates stifling
construction starts.
• New-unit deliveries fell
over last year.
• Newer properties still in
lease-up, leading to
elevated overall
vacancy.
• Growing student base,
future job prospects key
to momentum.
Vital Signs
$2,730 average rent (all unit
types)
2% rent growth YoY
4,078 high-rise units approved
but not yet started.
One major apartment sale: The
James: $74M, $391,000 per
unit
The Fay: 336 homes to be
delivered late 2024. The Fay in SoFA
8 | Clean, Safe and Housed: Cleanliness and Public Safety FY 23-24 Highlights
• Expansion of Groundwerx service area
following PBID renewal
• Gateways Program cleanups of key
Downtown on/offramps
• Development of Downtown Resource
Guide for clean-and-safe concerns
• Launch of Community Service Officer
Downtown Detail
• Return of Field Training Officer
Program to Downtown
• Continuation of Downtown Foot Patrol
9 | Clean, Safe and Housed: PATH and Social Impact Team 10 | Public Realm & Activation
San Pedro Street Mural
Plaza de Cesar Chavez Refresh
Pellier Park Re-Opening
11 | Arts, Entertainment, and Culture
Juneteenth in the Streets
SoFA Street Fair
San José Jazz
Summer Fest
12 | NVIDIA GTC and the Return of Corporate Events
SJSU Marching Band welcome at SAP keynote
Attendees on the march to keynote 13
| San José State University
Nirvana Soul at MLK Library
Interdisciplinary Science Building
Campus
growth plans
14 Nanci Klein, Director, Office of
Economic Development and
Cultural Affairs (OEDCA)
Nathan Donato-Weinstein,
Downtown Manager, OEDCA
Chris Arkley
Downtown Coordinator, OEDCA
Downtown
Annual
Progress
Report