If you look at Santa Clara, which is a couple of streets over, you have the Stadium, the hotels and more importantly, the $6.5 Billion project going up in the current Santa Clara Muni Golf Course. You are talking about Santana Row x5 in that project alone, which will be a mixed used area. That means you will have restaurants, shopping and entertainment on the ground level and residential on the above floors a la Santana Row. Plus on North First Street, you have new construction of several large apartment complexes in the works and Samsung USA is building a huge complex there as well.
You move a little further South near San Jose Muni Golf Course and now you have another large project in the works. BART extension in to San Jose is being built around there right now with a completion date of 2018. With BART coming and employees having public transportation access to SF, this part of North San Jose is anticipating and preparing for growth. The old Berryessa Flea Market has begun construction of probably the largest residential construction project in San Jose. Right now KB Homes is finishing up their last phases of development of some 200 units in what used to be the parking lot of the Flea Market. They are the first builders to break ground.
The Flea Market has been given the approval to build up to 2800 units of residential units in its 120 acres of space. This plan also anticipates the building of commercial uses facilities, a public school, park and other facilities to serve this new community. With 2800 units, coming online in the next few years, there will be a lot of "up and coming" shopping and entertainment facilities there as well.
Yes, the whole Santa Clara, North San Jose area will be the new entrainment destination for all of the Bay Area.
Hope that helps.