Megaproject next to 49ers stadium begins to take shape
NBBJ
An artists rendering of early conceptual designs for Centennial
Gateway, the latest version of a mixed-use project from Montana Property Group,
which is partnering with Lowe Enterprises. It is located just south of where
Related California is proposing a huge new mixed-use project on a city golf
course. Both projects are being fleshed out and moving forward.
- Nathan Donato-Weinstein
- Real Estate Reporter- Silicon Valley Business Journal
- Email | Twitter
Related California, a subsidiary of the huge real estate firm Related Companies, today said it envisions eventually building out 1.5 million square feet of retail, 2.4 million square feet of office, a hotel and hundreds of residential units on a massive chunk of city land in Santa Clara.
At the same time, a group that includes ex-49ers quarterback Joe Montana fleshed out its plans for an adjacent property that also will include an upscale hotel, a Montana-operated restaurant, retail and office.
Together with the stadium, the two urban-style developments have the potential to build a social, economic and cultural center of gravity around the football stadium that drives additional tax revenue and economic growth for Santa Clara. Representatives for both companies came together with city officials to discuss the projects at a news conference this afternoon in Santa Clara.
“As some folks have said, we’re creating a city within a city,” said Santa Clara City Manager Julio Fuentes. This will appeal to all kinds of people, not only in Santa Clara but the whole area. This will be a signature development for us.”
Next Step for Related California
The Related California announcement comes six months after the firm entered into a deal with the city to explore the development of the site, currently a city golf course.“We’re at the very preliminary stages,” William A. Witte, president of Related California, said in an interview. “But we’ve had enough discussions to feel really positive about this. We’re asking for the city’s blessing to proceed with thinking along these lines and solicit comment.”
Nathan Donato-Weinstein covers commercial real estate and transportation for the Silicon Valley Business Journal.
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