Posted Dec 22, 2018, 3:06 AM
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Join Date: Nov 2015
Location: San Jose
Posts: 243
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https://www.mercurynews.com/2018/12/...-city-parcels/
Quote:
SAN JOSE — Google has obtained an option to buy more downtown San Jose properties in the area of its proposed transit village, an unexpected deal that indicates the search giant has yet to quench its thirst for sites to create a game-changing project in the urban heart of the Bay Area’s largest city.
The options for Google will enable it to buy several parcels near the Diridon train station, including properties now occupied by Poor House Bistro and World of Sports Memorabilia in downtown San Jose, according to Santa Clara County real estate records.
Separately, Google this week completed the purchase, as anticipated, of several government-owned properties in downtown San Jose that are deemed vital to the development of the transit-oriented project.
Full financial terms for the options that Google has obtained weren’t disclosed. County records show the properties have addresses of 82 S. Montgomery St., and 87 and 91 S. Autumn St.
Mountain View-based Google also has obtained options for other properties in downtown San Jose, according to county records and interviews by this news organization with other local property owners. Those include separate options for the Templo La Hermosa building and the Kearney Pattern Works and Foundry complex, both on South Montgomery Street.
The heightened activity hints at a steadily widening scope for Google’s proposed transit-oriented community in downtown San Jose. Google plans a development of office buildings, homes, shops, restaurants and open spaces where 25,000 people would work, including 15,000 to 20,000 of the search giant’s employees.
Separate from the growing number of options that Google has obtained, the company has completed the purchase from the city of San Jose of 10 parcels previously owned by government agencies, part of a formal agreement between the municipality and the tech titan, county files show.
Google paid $69.1 million for the parcels, which are all located in a narrow strip between the SAP entertainment and sports complex on the north and West San Carlos Street on the south. The transactions were completed on Dec. 19, county records show.
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In those 24 months, Google has spent at least $310.1 million to buy an array of properties on the downtown’s western border, including vacant lots, surface parking areas, industrial properties, commercial sites and homes, this news organization’s survey of county public records show.
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