San Jose's Downtown is set for significant transformation with two major projects by Westbank combining data centers and housing. The City Council supports these initiatives for potential economic growth, expected to generate substantial tax revenue, create jobs, and attract businesses. Sustainability efforts, including a district energy system, enhance this strategy by reducing costs for future developments. Economic incentives from the city aim to encourage investment, reinforcing San Jose's position as a forward-thinking hub in Silicon Valley.
San Jose's Downtown is on the cusp of a transformation that could redefine its landscape and economic future.
Housing is very challenged in San Jose, but data centers are not. When you couple those together, you have viable projects.
The financial benefits alone are enough to turn heads. A proposed 99 MW data center could bring in between $3.5 million and $6.4 million in taxes.
The city has extended economic incentive programs, like the downtown high-rise initiative that waives construction taxes and fees.
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