With zero market-rate, multi-family buildings over 20 units starting construction this year in San Jose, city officials introduced incentives aiming to spur housing development.
Mayor Matt Mahan emphasized the urgency of building housing, stating ‘I frankly would rather get the building into the ground, build the housing that we all agree is our no. 1 priority.’
In light of high interest rates and rising costs, San Jose is deploying incentive programs to kickstart construction, hoping to signal pro-development intentions.
Deputy director Blage Zelalich highlighted the goal of these initiatives, stating, ‘The intention of this recommendation is really to signify to the market that San Jose is fostering a pro-housing development.’
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