{"id":113556,"date":"2025-08-02T17:43:10","date_gmt":"2025-08-02T17:43:10","guid":{"rendered":"https:\/\/www.europesays.com\/us\/113556\/"},"modified":"2025-08-02T17:43:10","modified_gmt":"2025-08-02T17:43:10","slug":"economic-upswing-sprouts-on-multiple-fronts-in-downtown-san-jose","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/113556\/","title":{"rendered":"Economic upswing sprouts on multiple fronts in downtown San Jose"},"content":{"rendered":"

SAN JOSE \u2014 Downtown San Jose has produced an upswing in economic activity, with jobs and foot traffic showing improvement, according to a report<\/a> produced by the San Jose Economic Development and Cultural Affairs Office.<\/p>\n

The report covered the 12 months that ended in June.<\/p>\n

\u201cOver the past year, downtown San Jose continued to make visible progress, even amid broader economic headwinds,\u201d stated the city government report. \u201cDowntown San Jose is experiencing a period of transition and reinvestment as it continues to recover from the impacts of the COVID-19 pandemic.\u201d<\/p>\n

In the 2025 fiscal year, downtown San Jose accommodated an estimated 27,400 jobs. That was up 8.3% from the 25,300 in the 2024 fiscal year that ended in June 2024, the city report stated.<\/p>\n

In mid-2019, prior to business shutdowns that began in March 2020 due to the pandemic, downtown had about 43,000 jobs, the city agency reported. Totals nosedived to 33,700 in mid-2023.<\/p>\n

About 23,000 people were living downtown during the 2025 fiscal year, according to the Economic Development Office. That was unchanged from the prior year, but higher than in mid-2023.<\/p>\n

In mid-2019, about 22,000 people were living downtown, a prior report by the city economic development office determined. That number jumped to 24,000 in mid-2021, then to 23,000 in mid-2022 and 21,400 by mid-2023.<\/p>\n

The report also determined that downtown foot traffic rose 7% over a one-year period that ended in April.<\/p>\n

It defined downtown San Jose as an area bounded by Google\u2019s Downtown West footprint near the SAP Center, Diridon train station and the Coleman Market Center site on the west; Julian Street on the north; Fourth Street on the east; and Interstate 280 on the south.<\/p>\n

Downtown office vacancy levels are high and worsened slightly in the most recent reporting period. The vacancy rate was 29% in the 2025 fiscal year, up from 28% the year before, according to the city study.<\/p>\n

Office rental rates are improving. Average asking office rents were $4.37 a square foot as of mid-2025, up 21.7% from $3.59 a square foot in mid-2024.<\/p>\n

The report also took note of how San Jose State University has become entwined with downtown, to the benefit of both.<\/p>\n

The university in August 2024 opened Spartan Village on the Paseo<\/a>, a 13-story student housing complex that sprouted within a former hotel tower. That facility contains 700 beds.<\/p>\n

The upswing for multiple key sectors in downtown San Jose has arrived ahead of the South Bay playing host to three key sporting events: the Super Bowl, several matches of the FIFA World Cup, and some of the games for the NCAA men\u2019s college basketball tournament.<\/p>\n

\u201cDowntown San Jose is drawing new large-scale events, welcoming new business openings, and benefiting from public space improvements that create a more welcoming and vibrant environment,\u201d the city report stated. \u201cThese trends reflect the downtown\u2019s evolving identity as a vibrant, mixed-use district poised for growth.\u201d<\/p>\n

Originally Published: August 1, 2025 at 8:56 AM PDT<\/p>\n","protected":false},"excerpt":{"rendered":"SAN JOSE \u2014 Downtown San Jose has produced an upswing in economic activity, with jobs and foot traffic…\n","protected":false},"author":3,"featured_media":113557,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[5171,64,71539,79,316,420,1812,10558,4329,21600,4700,242,67,132,68],"class_list":{"0":"post-113556","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-build","9":"tag-business","10":"tag-develop","11":"tag-economy","12":"tag-home","13":"tag-jobs","14":"tag-office","15":"tag-property","16":"tag-real-estate","17":"tag-san-jose","18":"tag-store","19":"tag-tech","20":"tag-united-states","21":"tag-unitedstates","22":"tag-us"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/113556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=113556"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/113556\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/113557"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=113556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=113556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=113556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}