HCD opened a $240M gap fund to push shovel‑ready affordable rental projects forward, a move that could unlock nearly 2,300 homes statewide.

AB 1572 phases out potable watering of decorative HOA lawns and makes large associations certify compliance on a three‑year schedule.

Peak Energy is reportedly weighing Sacramento for a battery manufacturing line and could seek up to $10.5M in state tax credits tied to a $71M investment. The move would deepen Sacramento’s budding battery cluster.

Tesla has taken roughly 108,000 square feet on Junction Avenue and filed plans to convert it into a vehicle storage, delivery and service hub.

Paceline paid about $12.2M for a 92,900‑sq‑ft North San Jose office — a steep discount that highlights continued weakness in Bay Area office values.

San José City College has opened a roughly 120,000‑square‑foot Career Education Complex that consolidates career programs and labs into a single hub aimed at Silicon Valley employers. The facility combines hands‑on labs, study spaces and industry partnerships.

Grosvenor is winding down direct development in the U.S., selling Union Square properties and marketing major Bay Area sites as it pivots strategy. The move follows pandemic losses and writedowns.

A Construction Coverage analysis finds buying in Palo Alto costs about 5.6 times as much as renting, with typical mortgage bills near $22k a month versus rent around $3,865.

MongoDB has signed a roughly 23,000‑sq‑ft lease at 490 California Avenue as new owners reposition the Palo Alto building for tech tenants. The deal takes most of the four‑story property.

Palo Alto’s council voted 6-0 to approve a seven-story, 321-unit building at 3606 El Camino Real, even as neighbors warned about traffic and bike-safety risks.

Palo Alto’s council rejected a proposal to limit wealthy “compounds” in Crescent Park and instead sent staff to study citywide construction and vacancy rules. Debate split along property‑rights lines.

PODS has taken the entire 104,400‑square‑foot warehouse at 1959 Monterey Road, a sign of continued demand for distribution-ready space in Central San Jose.

U.S. existing‑home sales cooled in March to a nine‑month low even as the median price hit a March record; some Bay Area markets are still showing strength.