SPUR: A Boom, and a Turning Point, for Downtown San Jose

There is a great article describing what is happening in Downtown San Jose over at SPUR. After many years (decades actually) of hoping that Downtown would turn the corner, it is actually happening. 

The housing market is exploding with 1,900 units under construction and 5,000 more either approved or proposed. Commercial projects are finally being proposed again with over 2,000,000 SQFT of new office space in the pipe. You can see below how much has changed in just two years. With BART and High Speed Rail coming in the next decade, the momentum will continue to build.

There is certainly much to be excited about in the years ahead if you are a Downtown resident, business owner, or supporter. To read the SPUR article, head over here.

British Airways: London vs. San Jose

As a clever promo for the new direct flight between San Jose and London, British Airways has made a video where San Jose and London face off. It is definitely worth watching and is only a few minutes long. The flight launched on May 4th and will utilize a cutting edge Boeing 787-9 Dreamliner plane.

Source: SJ Economy News

Saturday Stats: San Jose is the second best city for young professionals

Forbes has completed their annual study on the best cities for young professionals, and we fared quite well. Criteria for the study included the quality of jobs for graduates, salaries, job growth, unemployment rates, and cost of living in the 100 largest metro areas. The San Jose Metro came in second on their list despite the astronomical cost of living. When it came to salaries, we were #1 with a median salary of $78,400 for workers with five years of experience or less. You can check out the full list over here.

In related news, the SJSV Chamber is hosting a special event specifically for young professionals in Silicon Valley. This is part of their "SV Next" initiative and you can learn more about that below.

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San Jose, Calif— The San Jose Silicon Valley Chamber of Commerce is proud to see San Jose included in yet another prominent national list, this time in Forbes’ 20 Best Cities for Young Professionals.

“San Jose and the Silicon Valley continue to be the place for educated young professionals to not only start their career but to also take it to the next level,” said Matt Mahood, San Jose Silicon Valley Chamber of Commerce President & CEO. “That is why the SJSV Chamber is relaunching our young professionals program, SV Next, to assist in helping them network, develop professionally and give back to their communities.”

SV Next is comprised of young professionals from Silicon Valley companies—including NowCFO, SAP, and Ameriprise Financial—between the ages of 21 and 39. It officially relaunches with a networking mixer on April 20, at Scott’s Seafood and offers young professionals a chance to meet, mingle, network and connect as well as meet established professionals who can become their mentors.

“SV Next strives to be the one-stop-shop for young professionals in Silicon Valley,” said Chloe Verrey, SV Next Chair. “Our programming addresses the needs of mid-career individuals, those entering the workforce and transplants to Silicon Valley. Establishing meaningful connections and providing professional development experiences for our members within the context of our Valley will enable them to advance their careers.”

Young professionals have always been one of the Valley's greatest assets. Just last year, San Jose's own institution of higher learning—San Jose State University—cemented its value to Silicon Valley employers when Jobvite named it one of the top workforce provider to some of the Valley's heavyweights, including Apple, Cisco and Hewlett Packard. San Jose also holds a greater share of total STEM graduates [29%], compared to the national average of 15%, and higher even than the average held by STEM global leader Finland [22%]—a crucial key for young professionals looking to attain high-paying jobs within the advanced industry sectors.

"There are many opportunities for young professionals in this Valley," Verrey said. “With the diversity of companies and people in San Jose, it's no surprise that we made this list.”

SV Next is looking to engage young professionals in unique networking and professional development opportunities. In 2016, the group aims at working with partners focused on leadership training, professional advancement and community service. For additional information or to join, email here.

Event season kicks off at Evergreen Village Square

San Jose, CA - Another season of fun events at Evergreen Village Square will be kicked off at the end of April with the annual EPIC Festival. The event brings together the various cultures of the Evergreen community to celebrate and appreciate the cultural diversity of the area.

Saturday April 30 will be the annual EPIC Festival.  EPIC stands for Earth, People, International, Culture, and was started by Vice-Mayor Rose Herrera nearly a decade ago to showcase the rich cultural diversity of the Evergreen area.  The Vice Mayor will be there to address the crowd and get the festivities started.  Emceed by the famous Lori and RJ of Cotton Candy Express, the event will again feature local dancing and singing groups both young and old.  Many different cultures and traditions are represented at the EPIC Festival, often wearing beautiful and colorful costumes.  The event coincides with the weekly Off the Grid Food Trucks, allowing festival goers to enjoy a wide variety of food, adding to the international flavor of this event.

The popular Friday Night Music, Art and Wine events will take place June 24, July 22 and August 5. A free family-friendly movie will be shown after dark at all three events.  There is always something going on at Evergreen Village Square!  Stay up to date with what is happening at the Square on the Evergreen Village Square Facebook page, or visit www.evergreenvillagesquare.com for a complete detailed list of events at the Square.

SJSV Chamber: Nominate a Woman in Leadership

San Jose, Calif—On this International Women’s Day, the San Jose Silicon Valley Chamber of Commerce opens up the nomination period for one of its most distinguished programs: Women in Leadership.

“Silicon Valley women are change-makers in their industries and across the world. The annual Women in Leadership event celebrates the talent, ethics and motivation that women bring to the workforce.” –Matthew Mahood, SJSV Chamber President & CEO

For more than a decade, the SJSV Chamber Foundation selects a group of women who are both attending school and working full- or part-time or as an intern at a Chamber-member business to receive Women in Leadership [WIL] Grants—funded by the Chamber Foundation. Since its launch, the SJSV Chamber has given more than $60,000 in WIL grants to 45 women.

The WIL grants will be presented during the Women In Leadership Luncheon—an event designed to bring together women leaders in the Silicon Valley for a chance to network and connect—this year set for Friday, May 20, at the San Jose Marriott in Downtown San Jose.

The luncheon event includes short, inspirational “WIL Talks,” given by women in the local business community. Previous speakers include Jenny Dearborn, Sr. VP & Chief Learning Officer, SAP; Lisa Lambert, VP, Managing Director Diversity Equity Fund, Intel Capital; Toni Burke, VP & Executive Director, City Year San Jose/Silicon Valley; and Barbara Kamm, President & CEO, Tech CU.

The 2016 Women in Leadership event is presented by Kaiser Permanente and Bank of America. Applications for the WIL grants are now open. The deadline is April 13.

Submit your nominations here | Read more about WIL here | Donate to the Chamber Foundation here

Student-housing tower could rise at Techshop site

Amcal has acquired a parcel of land at 300 S. Second St. where it will partner with Barry Swenson Builder to build a student housing project. This is the site with the original TechShop location near SoFA.

The new building could rise up to 20 stories and house 800+ SJSU students. Each of the 235 units would have four bedrooms (each with their own bathroom), a shared kitchen, and a common area (living room). Amenity-wise there would be a resident assistant (RA) on each floor, study rooms, a fitness center, business center, and a pool. There would also be some retail fronting San Carlos Street.

The project would welcome anyone, but it is obviously targeted at students. Rent is expected to be around $1,000/mo, a bargain for Silicon Valley.

A project of that scale would considerably add to the activity and vibrancy in Downtown San Jose--especially in the SoFA area which is already booming. The soonest it would be open for business would be the fall of 2019 or 2020.

Source: SVBJ

Vote for Downtown projects that matter to you at #d3decides

San Jose's District 3 is allocating funds for local projects in the most democratic way possible. Residents and visitors can vote on projects that they feel would have the strongest impact to the community. A total of $100,000 is available for investment and the projects range in cost from $600 all the way to $60,000.

Potential projects include interactive artwork, improved lighting, lending libraries, solar mobile-phone charging kiosks. Voting is open until April 15th at 5pm. To make sure your voice is heard and to learn about each proposal, head over here.

Sobrato adding a third office building on Julian Street

As a sign of the times, Sobrato is finally confident enough in the Downtown office market that they are planning to finish off a project that was started 16 years ago. The River Corporate Center was always envisioned as a three-building campus--in fact, the parking has already been built for the third building. The dotcom crash put this project on hiatus leaving only two mid-rise buildings completed.

Building #3 will be located at 353 Julian St. and clock in at 190,000 SQFT. The six-story building has upgraded amenities over what was originally envisioned (also a sign of the times). The roof will have an impressive terrace and garden with a view of Downtown San Jose and the ceiling heights for each floor have been increased.

Sobrato plans to build this on spec, meaning it is going up even without a tenant. Given its proximity to Downtown and the future Diridon megatransit hub, it is only a matter of time until its floors fill up. Downtown vacancy for "Class A" space is also 13.4%, an eight year low. Clearly the area is getting traction with companies, a trend that I hope will continue for a long time to come.

Source: SVBJ