Market Park San Jose Capitalizes on Clear Trend Away from the Automobile
Wall Street Journal Article Sees America Putting the Brakes on its Driving Love Affair
Data doesn’t lie. Americans are driving less, and especially in densely populated, traffic-choked urban areas such as Silicon Valley, we’re enjoying it less as well.
According to a December 24th article in The Wall Street Journal, “America’s Love Affair With Driving Takes a Back Seat” drivers aged 16 – 34 in 2017 drove nearly 25% fewer miles in 2017 compared with drivers of the same ages in 2001. There were also fewer commute trips than in any year since 1990, and the number of trips for shopping, socializing and enjoying recreational activities declined as well.
The Journal article points out that one of the driving reasons for these trends is “young adults’ preference to live close to their jobs or use alternate modes of transportation.” That has also accelerated the interest in Market Park San Jose, a 120-acre, $3 billion mixed-use development adjacent to the soon-to-open Berryessa BART station.
Silicon Valley’s Largest Transit-Oriented Development
Market Park San Jose is the largest transit-oriented development (TOD) in Silicon Valley — and one of the biggest in the state. With the opening of a downtown BART station most likely a decade or longer away, this makes Market Park an ideal location to live, work and play.
When complete, the development will have:
- Up to 4,400 homes, townhomes or apartments — with 1,000 residential units already built
- A minimum of 1.5 million sq. ft. of headquarters-class office space, and possibly significantly more
- A 100,000 sq. ft. Safeway-anchored retail center, plus ground-floor retail and restaurants in multi-family and office towers
- 7.5 acres of neighborhood parks
People will be able to live, work, shop, and dine without ever leaving the Market Park community. For commuters, there will be several multi-story parking structures accommodating several thousand vehicles — and a planned new freeway interchange at Berryessa Road and Highway 101. Most importantly, BART will literally be within walking distance — as will VTA bus service — to whisk employees and residents anywhere across the valley or throughout the Bay Area.
Fueling Opportunities for Business Leaders and Developers
Whether you’re a technology company looking for an ideally suited location to appeal to your employees and recruits — especially Millennials and members of Gen Z now entering the workforce — or a residential or commercial developer, Market Park San Jose offers exceptional opportunities, driven by the trend away from the automobile.
With the 100,000 sq. ft. retail center underway, the North Village of Market Park is largely developed. Entitlement work is now beginning on plans for the additional 3,400 residential units, office towers and ground-floor retail that will be located on the South Village’s 60 acres.
For more information about how you can get in early on the next phase of Market Park San Jose at Berryessa BART, please contact Ralph Borelli or Chris Anderson. Call (408) 453-4700, or visit the Market Park San Jose website.