The current financial turmoil for tech companies may finally be affecting a major project in San Jose as Google has indicated the Downtown West transit village development could be delayed. Following a recent pullback in real estate leases and a layoff announcement, Google now says it is reassessing the timeline of the project.
The Bay Area News Group reports that Google is examining the best move forward with Downtown West, but still insists they are committed to the project. The downtown San Jose area has been hit pretty hard by pandemic-related business shutdowns and remote work trends, so a lengthy delay in an energizing development like Downtown West would certainly cast a pall in the region’s recovery.
City officials have expressed confidence that the development will continue, including San Jose Mayor Matt Mahan who says the rationale for Google to invest in Downtown West is “stronger than ever.” Google has already begun demolition of some buildings and was planning to break ground later this year.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.