Apple Campus 2 Set to Have Huge Impact on Silicon Valley

Silicon Valley has a new space center. Though you may not hear the roar of rockets from the grounds, the innovative research coming from within the circular walls may play a part in journeys beyond planet Earth. Apple Campus 2, conceived by the late Steve Jobs and built by Rudolph, Sletten and Holder Construction, is about to open its doors to up to 15,000 workers.

Because of it, real estate in the greater San Jose area is about to get hotter, which didn't seem possible. Visualize one of the giant rings circling the planet Saturn and you'll have a good idea of the architectural style. Office space tops out at 2.8 million feet but thanks to some creative and extensive landscaping, the huge flying-saucer shaped campus remains visually pleasing. The inside of the ring is open-air and planted with shrubs and trees, as is the acreage that surrounds the building. Jobs wanted his building to be environmentally friendly. The generous installation of solar panels along the roof, which measures a mile in circumference, grants his wish.

Located roughly 10 miles west of downtown San Jose, the complex sits between E. Homestead Road on the north end and Interstate 280 on its southern border. The Cupertino campus also stretches from N Wolfe Road and N. Tantau Avenue. The Hamptons apartment complex, soon to be rebuilt and enlarged, is right next door, as is Vallco Shopping Mall and Kaiser Permanente Santa Clara Medical Center. Mineta San Jose International Airport is less than 10 miles away, giving it just one more bonus based on it's location. The arrival of this massive structure is already having an impact on the residential and retail options nearby.

Since the project's approval in 2013, real estate within one mile of the building site has experienced a median price increase of over 20 percent. According to an October 2016 Realtor.com article, the most noticeable real estate price increases extend roughly to within a five mile radius. The median home prices have increased by 4.4 percent up to the three-mile mark and 7.3 percent for homes within five miles of the campus, which includes neighborhoods such as Sunnyarts and West San Jose as well as cities like Cupertino, Loma Linda, and Santa Clara.

According to that same article, there were only 14 homes available in October 2016 within two miles of Apple Campus 2. Some realtors have even been going door to door asking residents if they'd be willing to sell. In other words, if you're looking to live in the area, perhaps because you'll be working on the campus, you better be ready to act fast (and pay cash).

Sources:

The Apple Effect: After Spaceship Campus Lands, Will Silicon Valley Prices Soar? [Realtor]

Check Out the Progress On Apple’s Spaceship Campus [Fortune]

Complete guide to Apple Campus 2 [MacWorld]

Apple Replaces Lead Contractor on New 'Spaceship' Campus [Recode]

Irvine Co. Proposes Apartment Remake in Cupertino [The Registry]

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