T
he Santa Clara Valley Transportation Authority (VTA) is relocating its headquarters from North San Jose to Downtown, leaving behind a 200,000-square-foot office complex that will be demolished for residential development. The VTA has secured a new 17-story office tower at Almaden Crossing and plans to move in by 2026. If the deal falls through, the agency has identified an alternative location in North San Jose.
The current River Oaks campus will be redeveloped into over 1,000 homes, with the property's 17 acres large enough for 1,300 new units. The VTA plans to lease the land for transit-oriented development projects but hasn't yet partnered with a developer. This move comes as San Jose struggles to meet its state-mandated housing goal of 62,200 units by 2031.
The relocation will not alleviate the region's troubled office market, which has seen a record-high vacancy rate of 22% in the third quarter. The VTA's departure from one headquarters to another is unlikely to improve the market, with prices already depressed due to high vacancy rates.
