Google Abandons Massive Plan That Would Have Built 15,000 Homes in San Francisco Area

Gizmodo ^ | Maxwell Zeff

[Vendome]

Google pulled out of a $15 billion investment in Santa Clara County after demolition had already begun. The company…

By Maxwell Zeff On Friday, Google and real estate group Lendlease called off plans to build 15,000 homes in the San Francisco Bay Area, as housing developers continue to exit the troubled region.

Google and Lendlease mutually ended a $15 billion agreement that was made in 2019 to build residential and retail space in Sunnyvale, San Jose, and Mountain View, where the search engine is headquartered. The plans for San Jose’s ‘Downtown West’ included 4,000 affordable homes, office space for 20,000 employees, 300 hotel rooms, and 10 parks.

“We’ve been optimizing our real estate investments in the Bay Area, and part of that work is looking at a variety of options to move our development projects forward and deliver on our housing commitment,” Alexa Arena, Google’s Senior Director of Development, told Gizmodo in an email.

Construction on Downtown West was paused in April after the demolition phase had already begun, according to CNBC. The project risks becoming a permanent eyesore to the San Jose community, at a time when investments can’t come soon enough.

San Jose’s opioid overdoses have tripled since 2018, according to the San Jose Spotlight, and real estate sales in Santa Clara County have dropped 14% this year, according to NBC. Issues that are, unfortunately, common in California these days continue to batter the Bay Area, and Google pulling investments in the community does not help.

[SauronOfMordor]

“ Seriously, how many advertisements have you ever seen on Google?”

I see them all the time. Just search for a product like lawnmower, and the top of the page has a bunch of “sponsored” results.

Companies pay money to Google to rank their products high on search results.

[GrandJediMasterYoda]

Wow, that’s right. I noticed that when I do a search on something I suddenly get emails on it from advertisers. Big mistake giving them my email. Thanks for explaining

[GSWarrior]

I’m noticing more unfinished projects in Bay Area that haven’t been touched in months or years.

The old Naval Hospital site in Oakland has been torn down, cleaned up, streets and sidewalks laid, light fixtures and landscaping finished. Yet housing lots sit waiting for a builder to come in. Nothings happened there in 2 years.

[bobcat62]

If Sundar’s real job is to export as many jobs as possible to the craphole (India), the need for Bay Area housing disappears.

[TexasGator]

“$15 billion to build 15,000 homes. That comes out to $1,000,000 per home.”

Sometimes it pays to read the article.

[ProtectOurFreedom]

Google will probably sell a lot of their land to developers and condos will get built. No doubt about it.

[Red6]

https://www.investopedia.com/articles/investing/020515/business-google.asp

Tracking you and selling advertising.

[Old West Conservative]

old news from November 2023 ...

[Paal Gulli]

Google Abandons Massive Plan That Would Have Built 15,000 Homes Complete With Deluxe "Big Brother" Surveillance Package in San Francisco Area

Fixed it for them.

G**gle is the largest and most pervasive censor and manipulator of information that has ever existed ...

... at least in this planet.

It exists entirely to modify what you think by controlling what you see and read. If you use any G**gle product (without first making some technically astute modifications), you're as much as begging for a proctological exam every time you fire up a PC or handheld digital device.