In June, when Google said it was investing around $1 billion for building 20,000 Bay Area homes over the next 10 years, it looked like a kind investment and contrasted to what other companies have given, it is.
CEO of Google Sundar Pichai, tweeted to the mayor of San Jose, Sam Liccardo, ‘Glad to do our part for supporting our upcoming neighbors in San Jose’.
Other tech companies as well as Google requires space in the Bay Area for accommodating their talent, but there are not sufficient world-changing problems or pay upgrades for swaying talent if they cannot find a reasonably priced as well as safe place to live.
This year, Microsoft promised $500 million for developing reasonably priced housing in and near to its hometown of Seattle and in the Bay Area Facebook also introduced the same project.
In June 2017, news reports revealed the interest of Google in constructing a huge tech campus in downtown San Jose near Diridon Station which is a major transit center. According to Brett Jennings, the founder and broker of Brett Jennings Real Estate Experts, within 1 week of the news, the rates of the house in a radius of three miles of the site increased 7%, and condos in the close to Rose Garden neighborhood in a week increased $50,000. He further added, ‘The Google effect, and we are feeling it with the sellers and buyers as well as we are also seeing it’.
Working in San Jose land use for three decades, Jerry Strangis said that he is supportive of the housing commitment of Google. But he also believes that it was a clear reply to community repel, which is one of the major risks to the potential campus. Moreover, community disturbance caused Amazon to pull out of plans for expanding in New York earlier this year.