Private real estate developer Related Companies plans to start site works soon for a major mixed-use project that’s set to occupy 97 hectares in North Santa Clara, California.
Related first announced plans for the development six years ago. The project is the result of a multi-year public-private partnership with the City of Santa Clara created to transform a municipal golf course, that sits atop a former landfill, into a world-class destination.
The 850,000sq m development for Santa Clara envisaging a mix of low- and high-rise buildings for offices, shops and residences.
Located just north of the famous Levi’s Stadium, the Santa Clara project will cost roughly US$8 billion (A$11.6 billion).
Related will deliver 500,000sq m of new office space, 28,000sq m of which will be urban-loft office space and 40,000sq m provided for corporate headquarters opportunities.
An additional 70,000sq m of customisable office space as a “build-to-suit” headquarters with a future phase of development allowing for an additional 370,000sq m dedicated to a "build-to-suit corporate campus" on the site’s eastern end.
The plan outlines also outlines 1,280 new apartment units, 170 of which will be affordable, and 400 “extended stay” apartments with amenities.A 260-room Related-owned Equinox hotel and a 440-room business hotel will also feature along with 93,000sq m of retail and restaurants.
The project was first announced in 2013 and has been working its way through public feedback and the city approval process ever since. Related’s project was held in limbo for more than year because of a fight between the city of Santa Clara and neighbouring San Jose, which squabbled over the effects on traffic and housing.
The two cities reached a settlement last year allowing work to move forward. Related sounded out the Silicon Valley site because of its proximity to more than 50 technology companies, with a market cap of over $1 billion, located within 30 kilometres of the project site.
“This 240-acre redevelopment represents one of the most ambitious and transformative opportunities in the area’s history,” Related founder Stephen Ross said.
“The commercial offerings were designed for visionary companies who demand a globally competitive work place with innovative, sustainable design and outstanding amenities to attract and retain a talented workforce.”
Foster + Partners is responsible for the site’s master plan and the design of the project’s first phase, with Gensler serving as the executive architect.
“Silicon Valley has always been underpinned by a pioneering spirit of innovation and a desire to make the world a better place,” Foster + Partners head of studio Stefan Behling said.
“Our aspiration is to push the boundaries of design and construction and introduce a model of sustainable urbanism in the valley centred on people.”
WSP USA will serve as the development’s lead engineering firm on the main infrastructure for the project and Newmark Knight Frank will spearhead the first phases of commercial office leasing.
Related Companies’ in-house leasing team will lead the retail, dining and entertainment leasing efforts.
Santa Clara mayor Lisa Gillmor said Related’s project delivers on a longstanding vision to transform the northern part of her city into a “tourist, business and entertainment district.”
The project is expected to bring in about $17 million (AUD$24.6 million) a year to local coffers from lease payments, taxes and fees when open.
Site work on the fully-entitled development will begin this month and vertical construction is expected to begin early next year with the first phases of the development scheduled to open to the public early-2023.