Google purchases midtown San Jose commercial building in transi …
SAN JOSE — Google has scooped up an industrial site in downtown San Jose, widening its property holdings in the area just ahead of a crucial City Council vote on selling the tech titan key government-owned parcels needed for a transit-oriented development near the Diridon train station.
The two properties, bought by Google and Trammel Crow, acting through an affiliate called TC Agoge Associates, are just east of the parking lots of the SAP entertainment and sports complex.
The Google group paid $3 million in cash on Nov. 29 for the industrial parcel with entrances at 260 N. Montgomery St. and 255 N. Autumn St., Santa Clara County property records show.
On Dec. 4, San Jose’s City Council is slated to make a final decision about whether to sell several government-owned properties downtown that would become crucial sites for a proposed transit village that Google would develop.
The Google village is deemed to be a game-changer for San Jose and its downtown, according to several experts, including Teresa Alvarado, director of the San Jose office of SPUR, a non-profit group that seeks development and planning solutions for big cities in the Bay Area.
“This is not only an opportunity to grow San Jose’s job base, but also to build a city,” Alvarado wrote in a Nov. 29 letter to San Jose’s mayor and City Council regarding the upcoming vote.
Google’s transit-oriented community could create up to 25,000 new jobs, including at least 15,000 to 20,000 employed directly by the search giant, in a development of office buildings, houses, shops, restaurants, cultural centers and open spaces near the Diridon station.
“This development has the potential to serve as an example for human-centered design that elevates and reinforces San Jose’s history, economy, culture and diversity and leads us down a path toward a more equitable model of prosperity,” Alvarado wrote in her letter to the city.