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deeyayay, Home Buyer in San Francisco, CA

Thoughts on Milpitas Transit Area Specific Plan (TASP)

Asked by deeyayay, San Francisco, CA Tue Sep 3, 2013

Hi,

I recently purchased a condo near Great Mall and am looking to get people's thoughts on the Milpitas TASP:

http://www.ci.milpitas.ca.gov/government/planning/plan_trans…

- What's the likelihood that development will end up reasonably close to what is proposed?
- Considering the demo of the area (mostly Asian I believe), will that have an effect on the types of retailers that come in (e.g. the grocery anchor)?
- Likelihood BART will be completed by 2017?
- Lots of apartment complexes going up in the area. Will there be an effect on the rental market? Is there a possibility of over-building?

Any and all opinions/thoughts are welcome... I haven't been able to find much online and would love to hear what real people think of the future of Milpitas!

Thanks!

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What you're going to end up with down there is a European city with Californian weather and Asian people. I think it's all going to work very well. They've been building high density housing around the Great Mall for years, and it all seems to sell at a good price.

Milpitas is all about diversity and there are plenty of businesses and grocery stores that serve non-Asian people. There is a Safeway, a Nob Hill and another small market within 5-10 minutes drive.

Big projects like BART usually get done a year or two late but I don't see any major construction challenges.

The area has an exceptionally good transportation infrastructure and I don't think there is any chance of overbuilding. House prices in my part of Milpitas are up 27% in the past year. There is plenty of housing demand in Silicon Valley and Milpitas offers more modern housing at a lower cost per sq ft than other cities.
1 vote Thank Flag Link Thu Sep 12, 2013
Congratulations on your purchase. Growth depends on demand and how efficient the government is on approvals. This we know for sure, Growth in all areas is evident. As for when and how no one can predict, that is always the million dollar question.

Supply and demand is always the driving factor on rentals and resale. It is the job of planning to accommodate demand without over building. Keep in mind that most investors are savy and do a lot of homework before deciding to invest and build in a certain area. They have done their studies. If investors are building apartments and planning is allowing it the prediction is that demand will be high.

There is always a possibility of over building. Do keep in mind that Milpitas has a lot of infrastructure in place and is close to services and jobs. If you are worried about a "Mountain Home" community, I would reassure you that should not be a concern.

Just my opinion.
0 votes Thank Flag Link Wed Sep 4, 2013
From what I've seen of the developers' analysis, the prospects are very favorable for Milpitas. If you've just bought a condo, then I'm pleased to see you agree as well.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Tue Sep 3, 2013
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