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Old February 11th, 2015, 08:42 PM   #281
pesto
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Originally Posted by cardinal2007 View Post
I would argue that this would lead to startups to look for space elsewhere as space gets more expensive, affecting burn rate, but I think we are in a different era where having a cool office is a good enough recruiting item that it saves them money on headhunters, and VCs are not as interested in burn rates as growth rates. That may change if there is a downturn, but not today.
Not sure why the move from PA to Sunnyvale causes such a disaster, especially when you can take the train about 3 stops and save 3000/month in mortgage costs. Virtually no one walks to work, which is why locations around transit are so popular.
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Old February 11th, 2015, 08:50 PM   #282
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Not sure why the move from PA to Sunnyvale causes such a disaster, especially when you can take the train about 3 stops and save 3000/month in mortgage costs. Virtually no one walks to work, which is why locations around transit are so popular.
I don't understand what the disaster is, the startups not wanting to move to Sunnyvale? Startups don't pay mortgages, they pay rents (I have yet to hear of a startup buying a building or commercial condo), usually on the order of $7/sqft/mo, so for a small space of 1000/sqft it is $7000/mo, and scales up slower than linearly though. The transit in downtown PA is a plus for them since people can commute from other places without dealing with traffic on 101, Sunnyvale has issues with lack of transit.

I would argue that limits would mean that $7 becomes $10 in a few years, but that won't stop startups from going there as the benefits for them still outweigh the costs, it may increase their burn rate, but the problems of not growing fast enough in the current VC environment are worse than the increase in burn rate.
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Old February 12th, 2015, 05:55 PM   #283
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I don't understand what the disaster is, the startups not wanting to move to Sunnyvale? Startups don't pay mortgages, they pay rents (I have yet to hear of a startup buying a building or commercial condo), usually on the order of $7/sqft/mo, so for a small space of 1000/sqft it is $7000/mo, and scales up slower than linearly though. The transit in downtown PA is a plus for them since people can commute from other places without dealing with traffic on 101, Sunnyvale has issues with lack of transit.

I would argue that limits would mean that $7 becomes $10 in a few years, but that won't stop startups from going there as the benefits for them still outweigh the costs, it may increase their burn rate, but the problems of not growing fast enough in the current VC environment are worse than the increase in burn rate.
The employees move to the new "villages" in Sunnyvale, etc., and pay mortgages of $3000 less than if they lived in PA. Their work is either ALSO in Sunnyvale or in PA, Menlo Park, etc., if they choose. A new walkable and modern residential area (or 20) are created while not destroying what made PA desirable in the first place (moderate density and government not owned by the developers).
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Old February 24th, 2015, 03:08 AM   #284
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Old February 24th, 2015, 04:18 AM   #285
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http://www.bizjournals.com/sanjose/n...osal-near.html

First of any TOD projects for Santa Clara, the city wants a BART station adjacent to Caltrain but has not had any real TOD as of yet. This has actually caused people to question the value of having the BART station there, though I'm guessing a few hundred thousand feet of office space would be much better way to get some value out of the station.
Coleman Highline will be 1+million sq ft, but on the San Jose side of the tracks.
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Old February 24th, 2015, 07:38 PM   #286
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Quote:
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http://www.bizjournals.com/sanjose/n...osal-near.html


First of any TOD projects for Santa Clara, the city wants a BART station adjacent to Caltrain but has not had any real TOD as of yet. This has actually caused people to question the value of having the BART station there, though I'm guessing a few hundred thousand feet of office space would be much better way to get some value out of the station.
That's so funny that we were just discussing this area! Looks like a nice project. I think the perceived value of the BART stop at this location is the proximity to SJC. From here it will be just a free and quick shuttle ride to the terminals. I've taken the #10 shuttle before and it's pretty painless.

Here are a couple of images I grabbed from the Business Journal article and the Coleman Highline's developer that highlights the future development around this CalTrain station:



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Old February 25th, 2015, 04:29 AM   #287
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Mountain View...

Is there a Mountain View Specific development thread, or does it fall under this one?
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Old February 25th, 2015, 04:51 AM   #288
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Is there a Mountain View Specific development thread, or does it fall under this one?
As far as I know, everything that's in Santa Clara County besides San Jose goes here.
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Old February 28th, 2015, 01:58 AM   #289
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http://www.bizjournals.com/sanjose/n...fice-plus.html

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EXCLUSIVE: LinkedIn plans for new office, plus retail promenade in Mountain View development plans

LinkedIn Corp., long hemmed in by its larger corporate neighbor Google Inc., believes it has finally found the way to settle down and expand in Mountain View.

On Friday, the company submitted plans to the city for a new mixed-use campus on 24 acres right on the district's gateway, at North Shoreline Boulevard and Highway 101. Featuring six office buildings — three with ground-floor retail — as well as a new luxury gym and theater, the concept represents a major milestone for the No. 1 social network for business people.

And while it is perhaps overshadowed by Google's eye-popping designs also submitted today, LinkedIn's mixed-use project is fairly groundbreaking on its own for its integration of public uses and entertainment on a tech campus.

"The overriding principal is we took the precise plan, and the city wanted this kind of project at the gateway: Entertainment, mixed use. What we tried to do is deliver that," said Jim Morgensen, LinkedIn's real estate chief, in a chat at a company cafeteria this week.

...
LinkedIn has had plans for expansion that include demolishing the Shoreline movie theater, the Gold's gym and several businesses there, as the article says this will conflict with Google's plan. In truth it makes sense for MV to limit office space, the roadways only have limited capacity, and even with the shuttles, there are no bus lanes there, and traffic is bad, more office will cause further delays. I think one of the companies should seriously consider expanding further south in Sunnyvale.
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Old February 28th, 2015, 05:40 PM   #290
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http://www.bizjournals.com/sanjose/n...fice-plus.html



LinkedIn has had plans for expansion that include demolishing the Shoreline movie theater, the Gold's gym and several businesses there, as the article says this will conflict with Google's plan. In truth it makes sense for MV to limit office space, the roadways only have limited capacity, and even with the shuttles, there are no bus lanes there, and traffic is bad, more office will cause further delays. I think one of the companies should seriously consider expanding further south in Sunnyvale.
This is just the continuation of the drive to satisfy people's desires that makes free economies so powerful.

The large employers put together increasingly large campuses, and then develop private transit, housing, retail and entertainment for their employees and eventually the public on their private property. Analogous to the "life-style" centers like Santana Row that start with private, secure shopping with plenty of free parking, parks, walkways, and over time add housing and office. All privately controlled, managed and maintained to make them attractive, convenient and safe.

What is NOT included (for better or worse) is the "downtown" look: independent stores, mixed architecture, poor maintenance, street people, gang-bangers, etc. It will be interesting to see what the new TOD downtowns will do to continue to compete with the "private" communities.
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Old March 31st, 2015, 09:05 PM   #291
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SummerHill planning 720 units near Milpitas BART
Mar 30, 2015, 1:53pm PDT UPDATED: Mar 31, 2015, 11:14am PDT
Nathan Donato-Weinstein
Real Estate Reporter-Silicon Valley Business Journal



SummerHill Housing Group is making a play for one of the largest remaining development sites near the under-construction Milpitas BART station in what would be the developer's first-ever project in that city.

The San Ramon-based company, through its SummerHill Apartment Communities arm, is in contract for a 9.8-acre chunk of land bounded by Great Mall Parkway, Center Pointe Drive and Montague Expressway. While plans are still early, SummerHill is considering three buildings with 720 units and 36,000 square feet of retail space, Robert Freed, president and chief executive officer of SummerHill Housing Group, told me in a phone call last week.

The major proposal comes as developers keep humming along in adding more housing product in Milpitas, particularly in the Great Mall district where the Valley Transportation Authority is racing ahead on the new BART extension. A 2008 "transit area specific plan" paved the way for a massive redevelopment of vast swaths of industrial land, and builders and land developers have responded enthusiastically during the current economic cycle.

The arrival of SummerHill is notable because the builder's moves are closely watched in the industry. A Marcus & Millichap company, SummerHill is considered a strong developer and builder that focuses on the region's "core," or the best, markets. Freed has done projects in Milpitas when he was an executive with KB Home, but SummerHill has not previously developed or built there. The project would be SummerHill's largest single development currently in its pipeline . . . .

While BART is a major attraction point for builders, Milpitas also benefits from relatively affordable land prices compared to areas such as Santa Clara and Sunnyvale.

The SummerHill project would average mostly one- and two-bedroom units, with a small number of studios. The buildings would rise up to seven stories at their tallest point. Retail would be integrated along Center Pointe, creating a walkable street with neighborhood-serving amenities off of the busy Great Mall Parkway.

"In terms of programming, amenities, roof-deck concepts and retail concepts, our intent is to do something that will stand up well against the competition," Freed said.

For developers, the danger in Milpitas is oversupply. Freed said he's keeping a close eye on new product coming online, but he believes there's enough demand and rent growth to support additional projects given continued job growth . . . .

Adding to the Milpitas action: Newport Beach-based Lyon Communities just paid $22 million for a five-acre development site at 1315 McCandless Drive that is approved for 371 units. Lennar is expected to close on a 477-unit project at 450 Montague (which is actually being sold by Lyon).

The biggest remaining project up for grabs is Integral Communities' 26-acre assemblage that includes three separate pieces: 8 acres called "The District" at Great Mall Parkway and McCandless Drive; 12.9 acres called Centre Pointe that runs along Centre Pointe Drive; and 5.3 acres along Houret Drive. Eastdil Secured is marketing the land, which could support up to 2,700 units if fully maxed out.
http://www.bizjournals.com/sanjose/n...itas-bart.html
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Old April 9th, 2015, 07:49 PM   #292
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I've been trying to keep track of the urbanization of the SV suburbs. This is the new What's App HQ in Mountain View.



I also have a before and after (residential to office/urban business district) at a website I've set up for this: http://svurb.com/2015/04/whatsapp-hq...mountain-view/
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Old April 9th, 2015, 08:23 PM   #293
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I've been trying to keep track of the urbanization of the SV suburbs. This is the new What's App HQ in Mountain View.



I also have a before and after (residential to office/urban business district) at a website I've set up for this: http://svurb.com/2015/04/whatsapp-hq...mountain-view/
Nice, but very small. Looks like MV is turning into PA. Should be easy to find somewhere for lunch.
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Old April 10th, 2015, 12:16 AM   #294
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Nice, but very small. Looks like MV is turning into PA. Should be easy to find somewhere for lunch.
And houses over $1M!

This Villa and Bryant, correct?
There is a new office building almost finished at Dana and Bryant, I believe it has a brick exterior. There is also construction at Castro & Church St, another office building I believe, and the new Castro Station building between the 2 old ones I believe is finished, the new 23 and Me HQ is fairly new too. I believe they are 4, 4, 3, and 4 stories respectively.
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Old April 10th, 2015, 05:42 PM   #295
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And houses over $1M!

This Villa and Bryant, correct?
There is a new office building almost finished at Dana and Bryant, I believe it has a brick exterior. There is also construction at Castro & Church St, another office building I believe, and the new Castro Station building between the 2 old ones I believe is finished, the new 23 and Me HQ is fairly new too. I believe they are 4, 4, 3, and 4 stories respectively.
A bit short for a TOD area, although well in keeping with the existing community (I believe only Castro itself has anything taller).

I also believe there are some parking structures going up in the area, which are desperately needed on weekend nights. Much worse that PA, which put in a number of massive structures all along University and surrounding decades ago and has done nothing but boom since then.
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Old April 21st, 2015, 01:33 AM   #296
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http://www.bizjournals.com/sanjose/n...in.html?page=2

Another move southward. Aruba leases 240k s/f in two new buildings in Santa Clara to consolidate employees and add room to grow. Per its VP of operations, they focused on moving south in Silicon Valley due to the ability to design your own building and attract better employees.
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Old April 21st, 2015, 01:40 AM   #297
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http://www.bizjournals.com/sanjose/n...transform.html

A “Palo Alto style” mixed user for Castro in MV (convenient to church as well, assuming you’re Catholic!). MV is becoming quite the place for small tech HQ’s.
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Old April 25th, 2015, 12:40 AM   #298
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Quote:
A Mega Condo Project in Milpitas Set to Rise



BDK Capital Group LLC plans to break ground next year on an approximately $300 million mixed-use project featuring 450 luxury condominiums in Milpitas.

The Landmark Tower is outlined as two 18-story buildings featuring for-sale condos above roughly 34,000 square feet of ground-floor commercial space at 600 Barber Lane, the site of a former Chevrolet dealership.

Arcadia, Calif.-based real estate investment and development group Singpoli Capital Corp. and joint venture partner American BD, which comprise BDK, purchased the entitled three-acre site for $21 million in November from Pham Co. LLC, said William Chu, CFO at Singpoli.

The site was entitled for an up to 760,000-square-foot mixed-use project in 2008, and Singpoli is looking to gain city approval to “fine-tune” the design by bumping up the number of condo units from 375 to 450 and reducing the commercial space, Chu said. The property also will include 1,240 parking spaces.

“It’s a high-quality design,” said Edesa Bitbadal, the city’s economic development director. “It speaks to the direction the City of Milpitas is going,” adding that more millennials and technology employees are moving into the city and seeking housing with “better services and amenities.” The city expects full-service restaurants will occupy the commercial space, she said.

Irvine, Calif.-based architecture firm MVE+Partners is designing the project, which will include eight four-bedroom penthouse units along with a rooftop deck, lounges, fitness center, pool and community room. The project design gives it “an exclusivity and [feel of the] New York lifestyle in Silicon Valley,” Bitbadal said.

Landmark Tower, slated to open in 2018, will be near a local bus route and about one mile from a light-rail station. Also nearby is Cisco Systems, Inc., Milpitas Square shopping mall—featuring many Asian eateries—Asian-American grocery 99 Ranch Market, Wal-Mart, the planned Pacific Mall, and the new Levi’s Stadium, home to the San Francisco 49ers. It also will be near the BART station, scheduled to debut in 2018.

The project will be Singpoli’s first development outside of Southern California. Milpitas fits into its strategy of investing in growing markets, Chu said. He also noted that the company liked the city’s demographics, with a median age of 32 years old and median family income of $103,000, based on 2013 statistics.

The Silicon Valley city, also home to companies such as electronics manufacturer Flextronics and manufacturing firm KLA-Tencor Corp, is easily accessible to Interstates 880 and 680 and Highway 237

Milpitas is garnering much interest from developers and has 7,000 residential units under consideration or in the works, Bitbadal said.

“The city has done its share in developing housing for residents and providing it regionally—we have welcomed it,” Bitbadal said.

http://news.theregistrysf.com/a-mega...s-set-to-rise/
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Old April 25th, 2015, 06:06 PM   #299
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Interesting. This is about the 3rd iteration for that property, which is on a predominantly Chinese food strip parallel to 880.

Strikes me as more appropriate for hotel, but with the builder being from Arcadia and the designer from Irvine, they must have their pulse on the Chinese market.
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Old May 1st, 2015, 11:01 PM   #300
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The California Department of Finance release their annual population estimates for the state today. Here are a couple of charts I captured from their press release:






If you're curious and want to dig into the spreadsheets for the rest of the state's cities, here's the link:

http://www.dof.ca.gov/research/demog...s/e-1/view.php
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