July 2013 Downtown Dimension Highlights

Here are my notes from the latest edition of Downtown Dimension:

• 1,400 Downtown San Jose apartments are now in the planning stages. Less than 4% of the remaining condos from the 2007-08 high-rise boom remain for sale. New projects include:
• Centerra - 21 stories, 327 units
• One South Market - 23 stories, 312 units
• The Pierce - 7 stories, 235 units
• North San Pedro Townhomes - 6 stories, 408 units
• Symphony Development - 7 stories, 129 units
• Some interesting stats on who is moving Downtown:
• 26% are 26-35 years old, 33% are 36-45 years old, 21% are 46-55
• 57% have master's degrees
• 72% have owned a home before
• 95% wanted to live Downtown
• 40% of recent homebuyers at The 88 make over $300,000/year (!)
• Half of the recent homebuyers at Axis make between $150,000-$250,000/year
• On Aug 2nd there will be a huge South First Friday and Street Market.
• ArtPlace America funded Downtown's growing arts scene for the third consecutive year, giving MACLA $750,000 to transform its interior space into an imaginative urban art center.
• Eight new start-ups have moved to Downtown San Jose from Ireland: 45Sound, Cleverbug, Connected Trips, Fanton, Pubble, Synergy Suite, Viddyad, WholeWorldBrand
• The Discover San Jose store opened at 150 S. First St.
• Amor Cafe and Tea opened at 110 E. San Fernando.
• Seeing Things Gallery is open at 30 N. Third St., and features unique art shows, books, and self-published magazines.
• Ana's Libreria Bookstore at 20 N. First has spiritual and therapy books in both Spanish and English as well as jewelry.
• The $320 million Santa Clara County Courthouse broke ground on July 16th.
• Downtown Hotel Occupancy has gone from 50.16% in 2009 to 69.92% in 2012.

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