Silicon Valley State of the Market and Opportunity Zone 2019 | Bisnow | 20 February 2019 | Il Fornaio at The Westin San Jose, 302 South Market Street San Jose, CA 95113 USA

WHAT YOU'LL LEARN

1. What effect – positive or otherwise – will Google’s new campus and employee population have on the city of San Jose?

2. What geographic areas have been designated viable for Opportunity Zone development?

3. What are the most notable developments – from hotels to office space, airport renovations and TOD – under construction across the market and what commonalities do they all share?

4. Does the “boom” San Jose is experiencing signal that a “bust” is too follow or can the growth across sector be sustained?

5. What initiatives are underway by the city, developers, and nonprofits to combat the housing crisis and increase the supply of affordable housing units on the market?

WHY THIS MATTERS

Silicon Valley is in the midst of a rather unprecedented development, investment, and (tech employee) migration boom.

Year over year, median home prices have risen nearly 25 percent to $1.1 million. Rent is exhibiting a similar trajectory. As of June 2018, tenants paid an average of just under $3,000 a month – 4 percent more than they did one year prior.

A Yardi Matrix report in July 2018 cited 9,800 units under construction with another 46,000 in planning and permitting. In the office space, Jay Paul Co.’s 1.8 million-sq.-ft. Moffett Towers II and The Irvine Company’s 1.1 million-sq.-ft. Pathline Peery Park came online and are fully leased to companies such as Facebook and Amazon.

With regards to migration, Google – and their plans to bring 15,000 to 20,000 employees into the city – is continuing to move forward with their future one million sq. ft. Google Campus.

While the development boom can in large part be credited to tech giants in Silicon Valley, the next wave of investments will likely be the result of Opportunity Zone development, stemming from 2017’s Tax Cuts and Jobs Act.

In a report published on its website, Fundrise identified San Jose as a Top 10 Metropolitan Area for OZ growth potential (along with other California cities Los Angeles, Oakland, and San Diego).

Investors and developers alike can expect increased demand for walkable communities, myriad housing options, transit oriented development, and urban infill as the population rises and market size grows.

Join us as we dive deep into Silicon Valley’s opportunities in 2019 and beyond.

2019 Speakers

Sam Liccardo
Mayor, City of San Jose

Erik Hayden
President, Urban Catalyst

Katherine Harasz
Executive Director, SCCHA

Leslye Corsiglia
Executive Director, SV at Home

Nathan Donato-Weinstein
Business Development Officer, City of San Jose

Sanjeev Acharya
Founder, President, & CEO, SiliconSage Builders

Michael Van Every
President & CEO - West Coast, Republic Urban Properties

Samantha Hauser
Director of Development, City Ventures

Mark Burns
Real Estate Agent, Mark Burns Silicon Valley Real Estate

2019 Sponsors:

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• Mark Burns