Google’s mega project in downtown San Jose promises to be a game changer for the area. As the project moves towards its potential final approval, more details are now being released.
The tech giant is proposing 7.3 million square feet of office space, up to 4,000 homes, and 500,000 square feet of additional retail and other community space. Google is also committing $200 million in community benefits as well as 25% affordable housing.
The City Council will steer the direction of the community benefits fund and determine the priorities which will include money for job training, homeless aid, and small business support. These funds will be distributed throughout the duration of the project construction which is expected to take over a decade.
In addition to the community benefits fund, Google’s Downtown West project is projected to provide $74 million in one-time local taxes and fees and more than $100 million in new annual tax revenue.
“The benefits to our community come in many different forms,” said San Jose Mayor Sam Liccardo. “They’ve committed in a concrete way to address our community needs.”
Liccardo pointed out that Google’s approach to developing the area was a major contract to the approach of other companies. While other companies sought tax breaks and public subsidies when proposing their developments, Google’s Downtown West project will work to enhance the community and “inject vitality into San Jose’s downtown.”
The San Jose City Council is expected to vote for final approval of the project in late May.
For more details on Google’s plans for the Downtown West project, visit their website! –> https://realestate.withgoogle.com/sanjose/