Santana West is a new, +-700,000 square foot, Class A office development in San Jose with expansion potential to 1 million square feet and is adjacent to 500 Santana Row (where Splunk and CineArts is located.)
With Santana Row construction coming to an end, it now boasts 50 shops, 30 restaurants, nine personal service businesses, 615 rental apartments and 219 condominiums. During the day, the high-end shopping center swells to a population of over 250,000, according to Federal Realty.Santana West will be the state-of-the-art, eight-story structure at Olsen Drive featuring 34,000 – 39,000 SF and 50,000- 54,000 square-foot floorplates, modern architecture and headquarters-quality office space with concrete construction, which gives the building distinctive design qualities compared to traditional Silicon Valley office buildings. It is across from I280 and with plans for a CalTrain shuttle to reduce gridlock.
The nonprofit organization Silicon Valley Creates is building a cultural and arts community center at the former Japantown Corporation Yard along N. 7th Street between E. Taylor Street and Jackson Street. Long time a dusty vacant lot that provided space for J-town’s Farmer’s Market, now has begun construction.
The center, slated to be 55,000 square feet, is expected to house the nonprofit, as well as San Jose Taiko, the New Ballet School, the media nonprofit CreaTV and other groups. It will include rehearsal space and meeting rooms for other arts organizations and community groups. The space is expected to be bordered by housing on two sides and a park.
“This is our opportunity to make San Jose the real arts center for the West Coast,” said Roy Hirabayashi, founder of San Jose Taiko.
Silicon Valley Creates is the largest nonprofit arts council in California, providing a comprehensive suite of programs that provide funding, capacity building, and promotional services that support the creative sector throughout Santa Clara County. This grant will support the development of the Creative Center at Japantown Square, a 5.75-acre mixed-use development that will provide a permanent home for more than two dozen artists and arts organizations, including at least three Performing Arts Program grantee organizations.
We’re excited to see leadership step-up and to value and promote the local arts in our community.
More from San Jose Mercury article here.
What is the importance of supporting arts in our community?
- Creates a culture in our community – Research has even shown that cities that emphasize art have more civic and social engagement, better child welfare and even lower poverty rates.
- Arts stimulates business – The arts contribute more than $ Billion to the U.S. economy and the arts employ 4.9 million workers across the country according to the U.S. Bureau of Economic Analysis (BEA) and the National Endowment for the Arts (NEA.
- Driving tourism & creating inspiration to the next generation – It has even been found that children who receive education in the arts have higher GPAs, better test scores and lower dropout rates. By inspiring people of different ages, not only the youth, is to embrace individual creativity and expression! San Jose’s Japantown is one of the last remaining three Japantown in the U.S. and it’s important to the community to retain the heritage and values to pass on to future generations.
What are Opportunity Zones?
An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service. Frequently ask questions & more about opportunity zones here.
How Can I benefit learning about them?
Opportunity Zones may benefit rising neighborhoods first – these areas have potential to stabilize and revitalize “distressed neighborhoods” and surrounding communities by inviting private investment capital through a series of tax benefits.
Opportunity Zones – Are there any in Silicon Valley?
Here’s a map of the designated qualified opportunity zones. These zones demonstrate the anticipated ability to revitalize neighborhoods and get even more people working.
Opportunity Zones – Santa Clara County (San Jose)
Opportunity zones are also located “over the hill” in Santa Cruz. As previously mentioned in my previous blog post, there are many new developments in Santa Clara county and Santa Cruz county.
Opportunity Zones – Santa Cruz County
Opportunity Zone investments can attract new businesses, thereby potentially generating millions, if not billions, in economic development and create jobs in these communities. (Forbes, 2018)
Call me today to discuss new investment opportunities that are noted to be in the areas “path of progress”.
Lynne Watanabe MacFarlane, MCDM
Intero Real Estate Services | Berkshire Hathaway affiliate
As locals in Silicon Valley we can’t help notice all the cranes, increased traffic and new construction going on everywhere around us. What is going on?! We’re about to experience a new age in the changing landscape in San Jose / Santa Clara as Silicon Valley makes way to retain its reputation and dominance as the global powerhouse of innovative technology. South Bay cities, Santa Clara and San Jose, are positioning to attract future talent from a national and international talent pool as both cities resolve their contentious differences and now creating new commercial buildings for mixed-use development to attract more tech companies and places to live, dine and entertain.
CityPlace, a six and a half billion dollar development next to Levi Stadium in Santa Clara is a multi-phased, mixed-use development of up to 9.16 million gross square feet. It will be the hub of Santa Clara consisting of office buildings, retail, entertainment facilities, residential units, hotel rooms, surface and structured parking facilities, new open space and roads, landscaping and tree replacement, and new, upgraded, expanded infrastructure and utilities. Oh, is that all? Watch out Los Angeles and San Francisco, looks like we’re about to compete and have world class entertainment, its about time too! (More on CityPlace here)
CityPlace will be a 240 acre project site from Parks/Open Space and Regional Commercial to Urban Center/Entertainment District.
The city of San Jose promises to pay sixteen million in traffic improvement related to the project in Santa Clara. Monies will not come from the general fund but by developer fees. San Jose Mayor Sam Liccardo and Santa Clara Mayor Lisa Gillmor pledged to work together to find solutions related to traffic and affordable housing.
On the border of cities Santa Clara and San Jose is the new development called Santana West. The Santana West complex is across the street from Santana Row, a successful shopping, residential, dining commercial destination and is now planning on building a third commercial buildings totaling 1 million square feet. Two of the buildings would contain 350,000 square feet each, and the third would offer 300,000 square feet of office space. “Santana Row is a place, it’s a destination, it has an identity,” said Dave Sandlin, an executive vice president with Colliers International, a commercial real estate firm. “Tech companies want cool buildings, cool locations like this to make it easier to attract good employees.” said Steve Horton, a vice chairman with Cushman & Wakefield. (More here)
Fortunately for us nostalgic South Bay residents, the new Santana West construction will preserve one of the landmark domed movie theater that for decades has been a familiar sight on Winchester Boulevard. Here’s the story of Century 21’s former space-age, futuristic vision coming to pass.
Companies such as Splunk is betting on the success of Santana Row’s location to attract employees. Signing a long-term lease at 700 Santana Row, Splunk’s new building will feature seven levels of office area above ground floor retail, and a parking garage with approximately 1,300 spaces. (More information here)