San Jose bracing for rental market fallout from Google development

Google development in downtown San Jose could result in $235 million in rent increases by 2030 if nearly 5,300 affordable homes and 12,500 market-rate homes do not enter the market, according to a San Jose nonprofit.

The city approved a $110 million “mega-campus” for Google in December after immense pushback from local residents who said the move would aggravate gentrification and already-skyrocketing housing prices in Silicon Valley.