San Jose Mayor Concedes City Is Way Behind when It Comes to New Housing

Massive housing development breaks ground in North San Jose at site of former Japanese-American farm

San Jose leaders and developers are touting the benefits of a multifamily housing incentive program, crediting it with helping the city address the shortage of homes and challenging market conditions as a new urban village project breaks ground in North San Jose at the site of the former Sakuaye Family Farm. With high interest rates, skyrocketing construction costs and high development fees bringing the housing market to a halt, San Jose officia…

San Jose mayor concedes city is way behind when it comes to new housing

San Jose finds itself in a difficult dilemma. Housing inventory remains relatively low, and the region just ranked number one in the nation in home values. San Jose Mayor Matt Mahan concedes the city is way behind. The city needs to build at east 8,000 units per year for the next seven years to meet the demand. Mahan said the city is partly to blame, with all the fees and red tape for housing projects. Add tariffs to the mix, plus the high cost …