Related Companies and Montana Property Group Announce Partnership to Develop Nearly 70-Acres in Santa Clara

Santa Clara, Calif. (February 5, 2015) Related Companies and Montana Property Group today announced the formation of a partnership to develop a combined nearly 70-acres in Santa Clara. The venture will work collaboratively on the 60-acre City Center site that comprises phase 1 of Related’s 230-acre CityPlace mixed-use project, as well as Montana’s 9-acre Centennial Gateway project at the intersection of Tasman Drive and Centennial Boulevard adjacent to the Levi’s Stadium.

Ken Himmel, president of Related Urban, the mixed-use division of Related and Joe Montana of Montana Property Group said, “Related Companies and Montana Property Group are pleased to partner on the development of a combined nearly 70 acre site in Santa Clara, California. Both companies share a vision for the creation of a dynamic city center that will capitalize on the area’s full potential and the venture will work collaboratively on 3.5 million square feet of mixed use development.

The creation of the joint venture allows for a cohesive and synergistic planning and will draw on Related’s track record of delivering world-class transformative mixed-use developments and the Montana Property Group’s experience and expertise in the area. We both look forward to continuing our partnership with the City of Santa Clara and all stakeholders on this compelling and exciting destination economic development opportunity in the heart of Silicon Valley.”

Santa Clara Mayor Jamie Matthews stated: “Both teams are fully committed and share the City’s concept of building a truly great destination, creating tens of thousands of jobs and tens of millions in revenue. I look forward in upcoming months for the Related Montana team to turn this vision into reality and to bring the project to City Council for anticipated approval by the end of the year.”

Plans for the development envision diverse destination and specialty retail, unique restaurants and entertainment uses, two distinctive hotel experiences, residential opportunities, and state-of-the-art office space. The site is supported by the VTA light rail, Amtrak and ACE regional rail stops providing easy access for residents, workers and visitors.

West Coast Commercial Real Estate News