Boston Properties has joined two other developers – TMG Partners and Valley Oak Partners – to develop the Platform 16 mega tech campus in downtown San Jose, says a recent story in the Mercury News.
Described as a “game changing” project, Boston Properties, TMG Partners, and Valley Oak Partners will all have a stake in developing the proposed million-square-foot tech campus that will sit near the banks of the Guadalupe River and the edge of Google’s future transit village.
TMG and Valley Oak have already gained final approvals from the city of San Jose to build the campus, which will consist primarily of three large, contemporary office buildings. The goal is for the property to attract one or more leading technology or telecommunications giants.
The property is located south of the Target store that is part of the bustling San Jose Market Center, and it’s bounded by Autumn Parkway, West Julian Street, North Autumn Street, and a railroad line.
While TMG and Valley Oak Partners bring considerable financial resources to the project already, the addition of Boston Properties brings even more substantial financial muscle, plus relationships with large tech companies.
Boston Properties’ involvement in Platform 16 underscores an expanding interest on the part of large scale developers in the growth prospects for downtown San Jose. Recently, large players like Jay Paul, John DiNapoli, Sobrato Organization, and Gary Dillabough bought large properties at key development sites as well as shared plans for expanded developments for properties they are already own.
“Boston Properties getting involved with Platform 16 is more fuel for the fire for downtown San Jose,” said Bob Staedler, a principal executive with Silicon Valley Synergy, a San Jose-based land use and planning consulting firm.
“National developers are recognizing downtown San Jose as a primary, urban market,” added Nick Goddard, a vice president with the commercial realty brokerage Colliers International.