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Millennial migration favors San Jose despite cost of living, says census

The Bay Area is getting more mixed messages on the seemingly perennial question of if and how quickly residents are fleeing the region and the state.

The finance company Smart Asset released a report Friday claiming that San Jose is one of the most popular destinations for millennials on the move despite its high cost of living.

Smart Asset economist Derek Miller sorted through U.S. Census data to figure out which U.S. cities got the greatest inflow—i.e., the margin of new residents relocating to a city over the number of those moving away—with the ever-topical millennial demographic, here defined as anyone between the ages of 20 and 34 in 2016.

Suffice to say, San Francisco did not acquit itself well with the trend, despite previous census analyses revealing that the city’s median age is gradually getting younger with each passing year. Instead, millennial movers reportedly favored San Jose, which came in seventh place on Miller’s list, the only California city to break the top ten.

 

 

Read more on Curbed SF

 

 

Amazon reveals top 20 city candidates for its second HQ

Amazon has reviewed the proposals from potential candidate cities for its second North American headquarters location, and it found 20 of those the most promising.

The mayors of these top 20 cities will now fight to the death in a Battle Royale-style island arena… er wait, no actually they’ll just move on the next portion of Amazon’s submission phase, which includes further proposal evaluation and working directly with the candidate cities on getting more info.

Without further ado, here are the cities that made the cut – 20 out of a total of 238 original applicants.

Read more from TechCrunch

Iconic Bank of Italy building is bought, signaling rising downtown San Jose interest

The Bank of Italy office building, deemed by experts to be downtown San Jose’s most iconic tower, has been bought by investors based in Menlo Park and Manhattan, according to public records that indicate WeWork has taken an ownership interest in the high rise.

Through several transactions in December and October, two investment groups that are working together paid $33.8 million for the historic 90-year-old office tower, along with an adjacent parking lot and a building that contains Lido’s nightclub.

“We are a local group of investors who care deeply about an iconic building that was in need of repair,” Gary Dillabough, a realty investor and venture capitalist who is leading the efforts to revive the downtown San Jose icon, told this news organization Monday. “Our capital partner is back east.”

Read more from The Mercury News

Downtown San Jose blighted blocks may get new life

SAN JOSE — A plan to build several dozen residential units in downtown San Jose is part of wide-ranging efforts to transform some blighted blocks, decaying buildings and vacant lots in the city’s urban heart into a vibrant community.

“Ultimately this is going to be a great, brand-new neighborhood in downtown San Jose,” said Bob Staedler, principal executive with Silicon Valley Synergy, a land-use and planning consultancy. “This area north of San Pedro Square has always been the hole in the doughnut of the downtown.”

Read more from East Bay Times