After a thorough process and economic analysis, the Santa Clara Valley Transportation Authority (VTA) is moving forward with a plan to relocate its headquarters and other satellite offices to one consolidated space in Downtown San Jose at 488 South Almaden Blvd.  Funding approved for the move, through the sale of bonds, will also be applied to facility improvements at all VTA Divisions throughout Santa Clara County focused on our workers and the workplace environment.

The VTA Board of Directors voted to approve the purchase terms for the new building, in a deal that leverages the distressed nature of the current real estate market.

“In an effort to be good stewards of taxpayer funds, we are fortunate to be able to take advantage of the current buyer’s market and at the same time help fill in vacant space in Downtown San Jose to shore up the vibrancy of our County’s largest city,” said Jessie O’Malley Solis, Director of VTA Real Estate and Transit Oriented Development. “Being able to secure more funding for workplace improvements at other VTA locations is paramount in this deal,” Solis said.

The current VTA headquarters located at 3331 North First Street was designated by the Board previously to be leased for Transit Oriented Development. Revenues to the agency from leasing that land could be up to $1.5 billion over time.

Overall, this action will provide a variety of benefits for the citizens of Santa Clara County. The purchase will allow VTA to save money in the long term by taking advantage of the depressed real estate market and prevent VTA from having to make major necessary improvements to its existing headquarters. It will also potentially create desperately needed new housing located near a light rail station. It will also create a new and dedicated funding stream for transit services through the lease of the existing property.

VTA will move forward with negotiations to secure the purchase of 488 S. Almaden Blvd. in the next 30 to 45 days, with a potential move-in date in 2026. A second site has been identified if negotiations for the first choice are not adequately beneficial to VTA.