SAN JOSE — A real estate venture is readying a decision about when — or whether — to launch construction of a huge tech campus that’s proposed for downtown San Jose, executives said Wednesday.
Numerous issues must be weighed, including the reality that the project won’t be ready to be offered to tenants for a few years.Perhaps the biggest challenges are skyrocketing costs for construction materials and mechanical components for buildings, Boston executives said during the conference call. “The lead time to obtain base building materials after construction drawings are approved has risen from 20 weeks to 40 weeks, as an example, for base building mechanical systems,” Linde said.“You have to make decisions much earlier in a construction schedule or risk delays,” Linde said. “We are doing that.”
“The Class A Silicon Valley leasing market had a particularly strong 2021 with very healthy absorption” of office space, Linde said.
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