Google Purchases Yet Another Property for Proposed San Jose Transit Village
Google’s planned footprint in the South Bay has grown yet again.
Along with development partner Trammell Crow, the technology giant is building a transit village in Downtown San Jose, purchasing numerous properties in the last few months. The buying spree continues with the parcel at 49 South Autumn St., which Trammell Crow affiliate TC Agoge Associates recently picked up for $3.2 million.
The land was valued at just $88,000 in a recent assessment, meaning Google doled out approximately 36 times the assessed price in order to acquire the plot. This purchase suggests property values in the area could skyrocket as Google continues to collect parcels for its new campus.
NBC Bay Area reports that the plot is located behind San Jose’s Diridon Station, making it a fitting addition to the transit-oriented village Google is building. Recently, Google acquired another property located directly across the street from Diridon Station.
Meanwhile, San Jose isn’t the only area where development projects are in the works for Google. The tech company is also building homes for local employees on its Bayview development in Mountain View.