San José Approves Changes for More Housing

"Despite the city approving tens of thousands of housing units since 2020, fewer than a third have broken ground, leaving San Jose well behind the state's mandate to plan for 62,200 units by 2031.

With the office market still in shambles post-pandemic, the San Jose City Council has decided to modify its downtown high-rise incentive program to include significant tax and fee reductions for select office conversions, which could prove cheaper and quicker for adding housing. The city is also extending its multifamily incentive program, which has proven fruitful in getting some shovels in the ground after zero new market-rate starts in 2024."