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The memorandum outlines a study session regarding the cost of residential development in San José, intended to provide the City Council with an updated report on the economics of residential development and barriers to new housing production. It includes findings from a 2025 study on both affordable and market-rate housing, highlighting costs per unit and market feasibility. The memorandum was coordinated with various city departments and included public outreach efforts.

Key points

• The study session aims to update the City Council on the cost of residential development in San José.
• The report includes analyses of total development costs for affordable and market-rate housing.
• Key findings indicate that affordable housing costs average about $676,000 per unit.
• Market-rate housing feasibility varies, with some lower density types being financially viable.
• The memorandum was coordinated with the City Attorney’s Office and other city departments.
• Public outreach included meetings with stakeholders and a community meeting.

Limitations

• The document contains unresolved placeholders such as the date of the approved memorandum.
• Some sections are incomplete, indicated by bullet points without accompanying text.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

The source text indicates this attachment appears to be a draft document.

This document is a draft report titled 'Cost of Residential Development Study' prepared for the City of San José by Economic & Planning Systems, Inc. It evaluates the financial feasibility of developing various types of housing in San José, focusing on both market rate and affordable housing. The report outlines key findings regarding the economic conditions affecting housing development, including the impact of development fees and the feasibility of different residential building types. It includes sections on residential building typologies, housing development financial analysis, and additional market considerations, along with tables and figures illustrating the findings.

Key points

• The report evaluates the cost and financial feasibility of developing market rate housing in San José.
• It is prepared as part of a broader study commissioned by the San José City Council.
• The study focuses on five residential building types: townhomes, stacked flats, podium, wrap, and tower.
• Key findings indicate that lower density housing types are financially feasible, while higher density types generally are not.
• Fee waivers and modest improvements in development economics could make some higher density projects feasible.
• The report discusses the potential for converting under-performing office buildings to residential uses, noting variability in feasibility.
• San José's housing market is competitive compared to neighboring jurisdictions regarding rents and development impact fees.

Limitations

• The document appears to be a draft, as indicated in the text.
• Some sections of the text are truncated, limiting the completeness of the summary.
• Specific dates, votes, dollar amounts, and outcomes are not provided in the text.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

This memorandum from Councilmember Campos, dated December 5, 2025, addresses the Cost of Residential Development in San José. It recommends that the City Manager return to the City Council in early 2026 with an amended scope of work for the study, which should include various analyses related to housing typologies, off-site improvements, Reach Codes, parking ratios, and development review timelines.

Key points

• The memorandum is addressed to the Mayor and City Council.
• It recommends an amended scope of work for the Cost of Residential Development Study.
• The recommended analyses include feasibility of expanded housing typologies, impact of off-site improvements, financial impact of Reach Codes, and sensitivity analyses on parking ratios and development review timelines.
• The background section emphasizes the variability of construction costs and market values based on site-specific conditions and regulations.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

The source text indicates this attachment appears to be a draft document.

The document appears to be a draft of a presentation by the City of San José Housing Department regarding a Residential Development Cost Study. It outlines the costs and feasibility of developing various residential building types, focusing on both market-rate and affordable housing. The study includes data from previous reports, community outreach efforts, and analysis of factors affecting housing development. Key findings indicate that townhomes and stacked flats are financially feasible under current market conditions, while multifamily buildings (podium, wrap, tower) are not, although fee waivers may improve feasibility for some projects.

Key points

• The study was conducted by CSG Advisors and Economic and Planning Systems (EPS).
• It evaluates the costs of developing market-rate and affordable housing in San José.
• Previous iterations of the report were released in 2018, 2022, and 2023.
• Community outreach included developer roundtables and meetings with stakeholders.
• Townhomes and stacked flats are financially feasible; multifamily buildings are not under current conditions.
• The analysis considers various factors affecting housing development, including city policies and market conditions.

Limitations

• The document contains unresolved placeholders and incomplete sections.
• Specific dates, votes, dollar amounts, and outcomes are not provided.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

The document contains letters addressed to the Mayor and City Council of San José regarding the Cost of Residential Development study session. The letters emphasize the need for comprehensive data analysis and stakeholder engagement concerning proposed amendments to the Inclusionary Housing Ordinance (IHO). They highlight the importance of understanding the impacts of these amendments on housing affordability and the development process. The letters also discuss the necessity of labor standards in residential construction and the implications of recent legislative changes on housing projects.

Key points

• Request for data analysis and stakeholder engagement regarding amendments to the Inclusionary Housing Ordinance.
• Concerns about the lack of information for Council decision-making on housing affordability.
• Emphasis on the need for a robust Cost of Residential Development report to inform future decisions.
• Discussion of the impact of high land and construction costs on housing feasibility.
• Call for clear definitions and data on housing units developed under the current IHO.
• Importance of stakeholder engagement in the development of housing policies.
• Labor movement representatives advocate for good-paying jobs in construction alongside housing development.
• Recent legislative changes (AB 130 and 131) may affect CEQA requirements for housing projects.

Limitations

• The text contains unresolved placeholders and incomplete sections, such as specific dates and details regarding stakeholder engagement.
• Some references to data and analysis are vague and lack specific metrics or outcomes.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.