The city of San Jose has “elected to purchase a prime downtown property” once slated for a major tech campus, which could “potentially aid the city’s vision of expanding its convention center and developing a sports and entertainment district,” according to Devan Patel of the San Jose MERCURY NEWS. The city council “has approved” the $13.5M acquisition of 447 S. Almaden Blvd — a 3.56-acre parcel located between the convention center to the east and Discovery Meadow and the Children’s Discovery Museum property to the west. Along with “creating entertainment zones and participating in a ‘stitching districts’” initiative to create a “more walkable and cohesive downtown,” the city recently inked a new agreement with the Sharks — an “essential driver of economic activity — to keep the NHL franchise in town until 2051 and renovate the SAP Center.” The city has also “outlined goals for this year,” including “developing a concept plan” for a sports and entertainment zone and “studying the expansion of the convention center or the development of a high-quality hotel.” The decision to complete the acquisition comes just days after a few city council members returned from a Chamber of Commerce study trip in Atlanta, where politicians and business leaders “observed how they created a thriving mixed-use district around a major sports venue” with The Battery (San Jose MERCURY NEWS, 10/2).
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‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.sportsbusinessjournal.com ’
