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Home / Business / Google, San Jose strike land deals for large downtown village

Google, San Jose strike land deals for large downtown village



SAN JOSE – Google and the city of San Jose have signed a land sales deal in downtown San Jose with a potential value of up to $ 220 million – an important milestone for a transit-focused community A landmark move for the Bay Area's largest community, city officials said Friday

. Offers include planned sales of several state and municipal properties near the Diridon Station and planned options that the search giant would offer for the large parking lots adjacent to the entertainment and sports complex of SAP.

"This is a crucial step, but we are still in the early stages of a long ball game," said San Jose Mayor Sam Liccardo on Friday. "There will still be a lot of work to do for the city, Google, and the community by the time the city approves the redeployment of these areas."

The City Council of San Jose is scheduled to December 4 on the deal. It is expected that the properties will be officially sold and the options will be officially registered in public records by the end of this year. Some city insiders believe that by 201

9, Google might make suggestions for specific components of the site's development.

"Unlike many other South Bay cities, San Jose does not have enough jobs for our very large resident population," said San Jose City manager David Sykes said Friday. "This makes San Jose the city with the largest tax code in South Bay, and this leads to long commuting for residents. We appreciate that a big company like Google is ready to invest in the city center and partner with them to reach the city development goals for the Diridon Station Area.

Among the notable properties in the 21.2-acre landscapes that the city sells either directly to Google or through options for possible later sale: multiple surface parking, a cocktail lounge site, the Fire Training Complex of the City and by an option for a future transaction the large surface parking lots next to the SAP center.

The Features That would be purchased directly from Google would be priced at around $ 109.9 million, while the option that Google would receive for the SAP Area Lots, with a possible maximum price of up to $ 111 million, according to Kim Walesh, San Jose's director of economic development.

It is expected that the price of $ 111 million will ultimately be cut, as Google is likely to receive a loan in final costs due to the heavy environmental impact Walment said the San Jose Sharks cleanup requirements should be met.

Some community groups expressed concern about the impact of development on transport, affordable housing, displacement and gentrification

"It's great that we're here, but the fear of the real estate crisis will cause more people more publicity Doing stunts to advance their agenda, "said Bob Staedler, general manager of Silicon Valley Synergy, a land use and planning consultancy. "The City Must Really Conclude What Measures to Reduce the Bureaucracy Are."

This week, two non-profit groups, Working Partnerships USA and First Amendment Coalition, have filed a lawsuit in the Santa Clara court filed on confidentiality agreements signed by several local officials, including Liccardo, in connection with the development.

However, some observers believe that the development of Google transit is exactly what San Jose needs to plan thousands of well-paid jobs near San Jose station, which already has light rail, Amtrak, Caltrain, Capitol Corridor has ACE train and bus connections and will have a BART station in the future.

"Instead of creating jobs in another state or nation, Google does not only want to invest in downtown San Jose, but pays the full market value of the land, never sought a single deal or tax relief and has Committed to working with the mayor and the council on additional benefits for our community Well, "said Carl Guardino, president of the Silicon Valley Leadership Group.

Google and the city of Mountain View have also started a process to engage the residents of San Jose.

"We look forward to the City Council meeting on December 4, where we will continue our open dialogue with the community and the city," said Javier Gonzalez, public affairs manager at Google. "Google is committed to paying the city of San Jose a fair market value to the public land and offering community benefits as part of our proposed development."

This process included numerous public gatherings and town hall meetings, blog posts, and the public memos and city meetings, city officials said.

"Because it's Google, and we know how everyone says this is a deciding factor for San Jose, we've done everything we can to be inclusive and have an audience process," said City Councilman Lan Diep. "San Jose is just about to go around the corner, and Google is a kind of lead-arming company that will get things going."


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