A respected real estate professional in the Bay Area, Paul Iantorno is a fourth-generation real estate developer who serves with Golden Properties, LLC, in San Francisco, California. Engaged in the local real estate community, Paul Iantorno closely watches trends and news pertaining to real estate development in the area. In December 2018, San Jose city officials began paving the way for Google to develop a significant piece of real estate in the downtown area. The city’s council approved a more than $100 million land sale to the tech giant that is slated to bring upwards of 20,000 jobs to the area. As a result, there has been a domino effect of other businesses looking to develop property near the future Google facility, driving real estate sales of $1.4 billion over the last year, which is triple the amount of the year prior. Night life in the San Jose area has been largely non-existent, but local officials believe the new influx of Google jobs--which will bring new residents--coupled with the other new developments will change that. In her comments, Jay Paul Co. Director of Acquisitions and Capital Markets Kristin Molano says the sale “has the potential to be a great deal.”
Paul Iantorno, a high-end fashion entrepreneur turned real estate professional, has worked with the San Francisco-based real estate firm Golden Properties, LLC for more than 14 years. Alongside luxury condominiums and single family units, Paul Iantorno collaborates with Golden Properties to increase housing stock for low-income people to help California tackle its housing crisis.In addition to a shortage of affordable properties, homelessness is growing problem in California. Proposition 2 was introduced on the state’s 2018 midterm ballot to provide more funding for mental health services and housing for homeless residents. The measure passed with just over 61 percent of the vote.As a result, the California government can use tax collected from high-income earners to back two billion dollars in municipal bonds. These bonds will fund housing projects through the No Place Like Home initiative that will build temporary accommodations for mentally ill individuals to be used as they undergo treatment. The funding will also be used to create permanent housing for the chronically homeless and increase the capacity of financial assistance programs such as the Supplemental Security Income and the State Supplementary Payment initiatives.
