Building on his résumé
Veteran developer and pro sports executive discusses what’s next for Oakland and San Jose, and his newest interest: Education
Lew Wolff’s expertise includes developer, hotel owner, sports franchise executive and education adviser, so if anyone epitomizes the term Renaissance man, Wolff would be that person. Wolff has co-owned or developed some of the most iconic buildings in downtown San Jose and now he is providing expertise and advice to help launch new hotels in downtown San Jose and downtown Oakland. Wolff’s interests also include the Yavneh Day School in Los Gatos. This news organization recently sat down to talk to Wolff about his views on an array of topics.
Q How do you assess the commercial real estate market in Oakland?
A We just started construction of our new hotel in downtown Oakland. For the first time in a long time, it appears that the path of growth is going through Oakland.
Q What are some of the advantages of development in Oakland?
A We recently found out that our hotel project in downtown Oakland could benefit from one of the opportunity zones in Oakland. The Oakland hotel project may be one of the first, or maybe the first, in the country to begin construction in an opportunity zone.
Q What big changes would you like to see for Oakland?
A I would like to see the Howard Terminal project for the A’s, which my partner is trying to get done, come to fruition. That would be huge for Oakland. But there are a lot of hurdles.
Q How do you assess downtown San Jose’s commercial real estate market?
A Things are really starting to happen in downtown San Jose.
Q Did you become involved with downtown San Jose development a while ago?
A I originally developed what is now Cityview Plaza. Jay Paul is going to tear down all the buildings that I developed, but that’s fine. What Jay Paul is doing at Cityview is fantastic.
Q Is that just part of the kind of transition that one would expect in a major city’s downtown?
A We are seeing the next generation of buildings in downtown San Jose. There is nothing that says a building has to stand forever. There’s no sense in always trying to cling to the past.
Q What do you think of the Cityview project and that site?
A The location that Jay Paul has chosen is great. If you were to tear down everything in downtown San Jose and start from scratch, that location, Cityview Plaza, would be the place you would pick to start over. If I knew I would be around for another hundred years I would want to join up with Jay Paul.
Q What are some of the key events that are still a benefit for downtown San Jose?
A The city put a tremendous amount of effort into saving the Fairmont Hotel. Our group came in and bought the Fairmont and stabilized it.
Q How big of a role do the San Jose Sharks play in the revival of downtown San Jose?
A The Sharks coming to town was crucial. Before the Sharks, people didn’t know where San Jose was. Tom Mcenery deserves a lot of credit to get the Sharks to San Jose. After the Sharks got here, San Jose was in the news every day during the season. Q How important is it to downtown San Jose to have Adobe under construction with a new office tower for its campus? A Adobe is developing the property that we and the Di Napoli family sold to Adobe for its new building. We bought it, got it entitled, and sold it to Adobe. Adobe’s new building is very important. There have been a lot of announcements. But with Adobe it’s not that they might do it. Adobe is doing it. I’m very impressed by Adobe’s CEO and Adobe’s director of real estate. They are making this project happen right now.
Q Did downtown San Jose grow more slowly than you would have expected?
A I was hoping that more developments would materialize. It didn’t happen as fast, on the scale, that I had hoped it would happen.
Q Is change beginning in downtown San Jose?
A It’s starting to happen in downtown San Jose now. You can see things starting to take off. Adobe, Google, Jay Paul. We could hit a recession. But with the climate, the transit potential, the development sites, there is nothing better in California than the core of San Jose for development. Downtown Oakland has a lot of the same attributes.
Q What was your reaction when you heard Google wanted to build a transit village in downtown San Jose?
A I was very excited to hear about Google. I hope their plans materialize sooner than later. We need Google to happen as soon as possible. Every year that the city can make Google happen sooner than planned would be tremendous.
Q How important is Google to downtown San Jose?
A We need more than one major headquarters, more than one major campus in downtown San Jose besides Adobe. Google is going to make downtown San Jose a real downtown. Google is going to change everything. But the real leader in turning things around is Adobe.
Q How do the Earthquakes fit into San Jose?
A The Earthquakes stadium is one of the most fun places to go to. It’s a great family atmosphere. Obviously, it’s significant for soccer. But I think there is room for a larger fan base. It helps with the identity of San Jose. We should have a sellout for every game.
Q What do you like least about being a developer?
A What I like the least is also the most valuable part of development. The process of getting a development approved and financed, to get the development done, has become the end product. But if you can get that done and get the project finished, you can create something that no one else has.
Q What do you like the most about being a developer?
A I like ground-up development, the creation of something completely new.
Q Can you discuss your education initiative?
A I’m very active in Yavneh Day School, which is a Jewish school in Los Gatos. Two of my grandchildren went there. It’s a great school, it gives the kids a sense of community. I’m striving to help that school grow. I would like to see that school become more diverse, to reach out to all children of all religions.
Q In what ways does the Yavneh school play a key role in local education?
A The school plays an important role in Silicon Valley not just because of its robust academics, but because of its community engagement. The school, for example, has an annual day of coding where it hosts kids from any school in the area to learn how to code. It’s a vital part of who we are as a region, and it’s important that youth begin to understand how to work together in this way.