Client: City of San Jose
Diridon Station is San José’s main train station and a major transit hub, with Caltrain, Amtrak and Altamont Commuter Express rail, as well as bus and light rail service operated by the Santa Clara Valley Transportation Authority (VTA). With planned improvements to Caltrain, the proposed BART extension to Silicon Valley and anticipated High Speed Rail service to San Francisco and Los Angeles, the expanded station will be one of California’s busiest multimodal stations. Future transit investments—in high speed rail, in BART—stand to transform the existing station and the surrounding area. The City of San José, in collaboration with the former San José Redevelopment Agency, VTA and other local and regional transportation agencies, worked toward a plan for the Diridon Station area, to provide a vision and framework for more intense, transit oriented development.
In support of the Diridon Station Area Plan team, Seifel developed a Financing Strategy for the new station and related infrastructure improvements. We provided analysis of traditional and emerging transportation resources, as well as local real estate-based assets, for their applicability to the project, availability and timeframe. We then crafted a Financing Strategy summarizing potentially feasible funding methods, timing considerations and strategies to secure needed resources.
In June 2014, the San Jose City Council unanimously approved the Diridon Station Area Plan. The plan calls for almost 5 million square feet of office space, 420,000 square feet of retail and 2,600 housing units.
Image credit: BeyondDC