Major developments: Silicon Valley has eyes on key projects and the economy in 2024

IN 2023, SAN JOSE and Silicon Valley’s development scene faced numerous challenges, including increasing costs due to inflation and spiked interest rates making financing projects of all kinds more difficult and expensive.

While development approvals continued at a rapid pace, many projects are on hold or being changed or resized to cut costs, office space is becoming emptier and it’s unclear whether next year will bring a different landscape for builders and investors.