By Jeni Pfeiffer, Associate Broker, Realtor
How will the future Silicon Valley BART affect Bay Area real estate values?
The Santa Clara Valley Transportation Authority (VTA) is building the Bay Area Rapid Transit (BART) Silicon Valley Project with expected service to begin in 2018. This will extend BART coverage from Warm Springs Fremont to Berryessa with a stop in-between at Milpitas.
What does this mean for Silicon Valley real estate? Reflective in Japan, Sweden, and European countries, transit-oriented development (TOD) have been enthusiastically desirable here for residents seeking alternatives to transportation via car only.
TOD developments are mixed-use residential and commercial area designed to maximize access to public transport and often incorporates features to encourage transit ridership. Builder KB Home, for example, purchased 10 acres on the north side of the 120-acre San Jose Flea Market operation, and has already started selling homes in their Berryessa Crossing Development. Continue reading