The San Jose City Council voted to approve a new quick-build housing development for the unhoused. Silicon Valley billionaire John Sobrato will lease 2 acres of private land to the city at $1 a year. AdvertisementAdvertisementA Bay Area billionaire is offering his private land to the city of San Jose, California, for a $1 annual lease in an effort to tackle the area's homelessness. A 2023 Point-in-Time homeless census released earlier this year found at least 6,340 people were homeless in San Jose, local media reported. San Jose City Council representatives did not return Insider's request for comment.

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