June 30, 2016
New York-based Related Companies received city approval to proceed with a $6.5-billion mixed-use development in Santa Clara, CA near Levi’s Stadium. The 240-acre city owned site, a former landfill now occupied by a golf course and dirt-bike track, would be the largest private development in Silicon Valley’s history.
Over the next 30 years, 9.7 million square feet is envisioned, including 5.7 million square feet of office, 1.1 million square feet of retail, 700 hotel rooms and up to 1,360 multifamily units, as well as a 35-acre park.
The five-parcel project is expected to generate $17 million in annual revenue, and provide a central gathering destination. Related is expected to move forward quickly with design plans and construction documents so that construction can begin by the end of 2017.