The Tri-County Division of the California Apartment Association held its economic summit for the Silicon Valley rental housing industry last Friday in Mountain View. Contrary to downward trends affecting the rest of the nation, the region is experiencing an economic boom with decreasing unemployment levels and increasing housing prices. This has been evident since traffic has been steadily increasing on local highways due to the emergence of new big companies in the area.

The Registry's article covering the summit highlights the merit of Redwood City to corporations looking to set up shop in the Peninsula. "From a practical point of view, Redwood City has a type of hard-working, diverse and eclectic flavor that separates it from the rest of the Bay Area by temperament as much as by geography. The selling point is the equidistant proximity to San Jose and San Francisco, located on the Caltrain line with different commercial space options and occupancy costs that remain slightly lower than the overall market. Its charm does pack a punch. The public square by City Hall offers free concerts in the summer, and its renovated Fox Theatre is a Bay Area jewel. It is no wonder that Crossing 900, its new 300,000 square foot development in the heart of the city, is attracting strong interest from a dozen or so technology tenants," according to Rosanne Foust, vice mayor of Redwood City. The city is seeing a surge of interest in housing and is in the process of delivering 1,650 housing units by early 2015. This is a significant figure considering that it is more than double the amount of housing constructed from 1960 to 2010.

Read the full article here.