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Santa Clara approves agrihood, city’s largest affordable housing project in pipeline

Santa Clara has approved its largest affordable housing project in the pipeline — an “agrihood” that will combine urban living with farm life. 

The city approved the project, a public-private partnership between the city and developer The Core Cos., last week. Called Agrihood, the mixed-income property will have 361 apartments, with 181 of those below market rate, 160 of which will be for low-income seniors. A 1.7-acre urban farm and community retail and open space will complete the neighborhood.

The city had the site earmarked for senior housing for more than a decade.

“This project was borne out of a dire need to bring affordable housing through a truly creative, community-driven process. The Core Companies has kept this mission and urgency at the center of its work and dialogue with the city and community stakeholders,” The Core Cos. Senior Development Manger Vince Cantore said in a statement. “Santa Clara’s seniors have already waited more than a decade for housing at this site. An available below-market home for a senior can be the differentiator between a comfortable, safe environment in which to spend one’s golden years, or an extended period of financial stress and uncertainty.”

 

Read more at Bisnow Silicon Valley

 

Bay Area tops U.S. in new office space, but lags in housing starts

 The Bay Area is a hot place to build cubicles, conference rooms, and office suites. But don’t look for as many hammers pounding out new homes, condos, and apartments.

The region is expected to open 18.2 million square feet of office space in 2018 — tops in the nation and more than New York City and Dallas combined — while home, condo and apartment building has grown only modestly.

More work space, more jobs and more people chasing a limited supply of homes is expected to add more steam to the pressure cooker of the Bay Area housing market.

“It’s encouraging that so many respected employers are investing in Bay Area jobs and immigration growth” said Carl Guardino, CEO of the business-backed Silicon Valley Leadership Group. “But we all recognize that jobs need a place to go home and sleep at night.”

The region created six times as many jobs as housing units between 2010 and 2015, according to a study by the leadership group and the Silicon Valley Community Foundation. The increased housing pressure has forced lower-income workers out of the region at much faster rates than higher paid workers, even as jobs go unfilled.

The run up in commercial development is led by major office openings in the South Bay, according to a survey from real estate data company Yardi Matrix. The big projects in 2018 include the official, complete opening of the 2.9 million square foot Apple Park in Cupertino, Park Tower at Transbay and The Exchange on 16th in San Francisco totaling 1.5 million square feet, and Facebook’s MPK 21, a half-million-square-foot campus designed by Frank Gehry in Menlo Park.

Other major developments underway include the Voyager property developed by Nvidia in Santa Clara, Microsoft and Google projects in Mountain View, the Stoneridge Mall Road project in Pleasanton, and Moffett Towers in Sunnyvale, according to Yardi Matrix.

The real estate data firm estimates that commercial openings in Santa Clara County are up 6.5 percent over the same period last year. The San Francisco and Oakland metro has seen three times as much commercial space open up this year compared to last year.

 

 

Read more on The Mercury News

 

 

San Jose mixed-use apartments eyed west of Google village

Plans for a mixed-use apartment and retail complex have sprouted west of downtown San Jose, a development that would bring more than 100 residences to an area known as the Midtown district.

The proposed development at 259 Meridian Ave. near West San Carlos Street would consist of 110 to 120 residential units and 2,300 square feet of retail, according to documents on file with San Jose city planners.

“The city has been encouraging development within an urban village planning process for this area,” said Jerry Strangis, a principal executive with Strangis Properties, a realty firm that is the project consultant for the development. Strangis wouldn’t identify the principal developer of the property.

 

Read more from The Mercury News

 

 

Exclusive: Chinese developer brings on local development muscle as it digs into Santa Clara megaproject

A Chinese company has brought on local development help as it studies the feasibility of building a 10.5 million-square-foot mixed-use development in Santa Clara — a project that local insiders say could get even bigger.

The Chinese developer working on getting approvals for a 10.5 million-square-foot-development on a former Yahoo site in Santa Clara appears to have forged a formal relationship with a local developer to help with the process.

Harmonie Park Development last week announced in a tweet it was “excited to be named development advisor to Kylli.”

Kylli Inc., an American subsidiary of Shenzhen, China-based pharmaceuticals and real estate company Genzon, earlier this year got unanimous approval from Santa Clara City Council members to study amending the city’s general plan to grow the allowed development for the 48.6-acre site roughly at 3005 Democracy Way more than three-fold.

One local land use consultant now says the project could get even bigger, according to conversations he’s had with people purporting to be involved with the project.

Read more from Silicon Valley Business Journal

 

 

5 Health and Wealth Hacks You Can Start Today

Almost everyone wants to be healthier and more financially secure. Much of the advice you see is either unsupported or difficult to implement. Here are 5 areas confirmed by virtually all research to be positive, beneficial additions to your life that you can easily embrace right now. It’s worth noting that health always improves your base from which you can work towards financial success and the reverse isn’t often true.

  1. Start your day at 5:30 am. The statistics are undeniable. This is the right decision. Furthermore, no research supports the common “I’m a night person” statement. Unfortunately, saying “get up early” is as effective as saying, “get a job”. So here’s how to actually do it.
  • Step 1: Figure out your personal motivating factors
  • Step 2: Visualize value you’ll receive like success & health
  • Step 3: Visualize the negatives of late rising like grogginess, running late, wasteful mornings and missed opportunities
  • Step 4: Tell friends and family, share this article, and tell them you are committed to this change. This will help your guilt factor. You could also commit to Soul Cycle or another cultish early morning group class.
  • Step 5: Practice now (or next time you’re home) by getting in bed with your alarm set for 3 minutes later. Gently but immediately get out of bed. Do this 5-10 times. Seriously. Don’t skip this last step.

Read the rest of James Kilpatrick’s health and wealth hacks here!