Google Abandoned Downtown San Jose. What Happens to It Now?

Google spent $532 million assembling 80 acres of downtown San Jose real estate, cleared it, and stopped. Here is what is actually happening to downtown San Jose and Silicon Valley real estate right now, and what it means if you own near Diridon Station. Six things, in order. The Downtown West approvals for 5,900 homes and 7.3 million square feet of office. The $12.2 billion BART Phase 2 tunnel being dug under Santa Clara Street. The entitlements still attached to Google's land. The $79 million a year in property taxes the city never collected. The community benefits package tied to construction. And the federal funding signature that decides whether any of it gets built. If you own downtown, in Willow Glen, in Rose Garden, or anywhere near Diridon, you cannot price your land off a campus that is not coming. Price off what is approved on your block and what is under construction within walking distance. If you are thinking about moving to San Jose, relocating to Silicon Valley, or buying near Diridon to get ahead of BART, watch the sixth point before you write an offer. WHEN WILL BART OPEN IN DOWNTOWN SAN JOSE? VTA anticipates passenger service on BART Silicon Valley Phase 2 in 2036. The six mile, four station extension runs from Berryessa through downtown San Jose to Santa Clara, with about five of those miles in subway tunnel. The current cost estimate is $12.2 billion, up from $9.3 billion. The Full Funding Grant Agreement with the federal government is targeted for 2027 and has not been signed yet. 📍 Downtown San Jose and Diridon Station 🏗️ 80 acres, roughly $532M in land, cleared and fenced 📐 Approved for 5,900 homes and 7.3M sq ft of office 🚇 BART Phase 2: $12.2B, service anticipated 2036 💰 $79M a year in property tax the city expected 📋 FREE SILICON VALLEY BUYERS GUIDE Get my complete buyers guide to help you navigate the Silicon Valley market: https://forms.gle/uPn6PfMKMQx45EXN8 🏡 THINKING ABOUT MOVING TO SILICON VALLEY? Fill out this quick form and I will send you everything you need to know: https://forms.gle/DQkKrTCtj1Vrfn8Q7 🤝 TRUSTED AGENT REFERRAL PROGRAM Moving out of the area or know someone who is? I will connect you with a vetted agent: https://forms.gle/ZTmr2EJbCaqLc2su9 ⏱️ CHAPTERS 0:00 Google Razed 80 Acres of Downtown San Jose 0:31 Why I Am Telling You This 1:06 What Everyone Still Believes About Downtown 1:46 Downtown West, The 80 Acre Project That Stopped 3:03 What Downtown San Jose Actually Lost 3:33 BART Phase 2, The $12.2 Billion Tunnel 4:36 Why Diridon Station Is Torn Up Right Now 5:01 The Entitlements Google Left on the Land 6:24 The $79 Million a Year the City Never Got 6:48 San Jose's Jobs and Housing Problem 7:36 The Community Benefits Package Nobody Covered 8:39 The 2027 Signature That Decides Everything 10:01 What Downtown Owners Should Do Right Now 10:45 Buyers Guide and Agent Referrals 📺 CHECK OUT THE OTHER SILICON VALLEY MARKET BREAKDOWNS [link the Silicon Valley city cost and commute comparison once published] Have questions about downtown San Jose, Diridon, or buying in Silicon Valley? Reach out anytime. Michael Rulfs, REALTOR® Coldwell Banker Realty michael.rulfs@CBRealty.com DRE # 01832571 🎥 Subscribe for more Silicon Valley real estate, neighborhood tours, and market breakdowns: @rulfsrealestate #SiliconValley #SanJoseRealEstate #DowntownSanJose #BayAreaRealEstate #LivingInSanJose