Related California, a real estate developer specializing in multifamily and mixed-use properties in California, today announced the Santa Clara City Council, acting as the Sports and Open Space Authority, will review Related’s plan to create a “city center” that will provide Santa Clara and the region with housing, office, retails shops, restaurants and jobs.
“This is a great opportunity for the city of Santa Clara,” said Mayor Jamie Matthews. “Since the destruction of our historic downtown in the 1960s, our residents have longed for a city center. We’re proposing to improve land that’s a major cost annually to our city budget by turning it into a project that will generate jobs, vibrancy and revenue, ensuring the highest quality of life for our residents.”
In April, 2013, the City signed an exclusive negotiating agreement with Related California. Related California is an affiliate of The Related Companies, one of the most prominent and well-financed privately owned real estate firms in the United States.
The project will include approximately 1.5 million square feet of retail, 2.4 million square feet of commercial, approximately 530 residential units and a hotel. Related will continue to work with the City and the Montana-Wittek-Lowe Enterprises entity which has an exclusive negotiating agreement with Santa Clara on an adjacent 7-acre parcel to integrate the development of both properties located immediately north of Levi’s Stadium, the new home of the San Francisco 49ers.
“In evaluating the site, we immediately identified the opportunity for the entire Santa Clara region,” said Bill Witte, president of Related California. “Our vision is to create a project that blends the best living, entertainment, shopping, and dining experiences from the surrounding area to what will be a thriving community and economic engine. The location and proposed components, including office and hotel, will ensure a premier destination for current and future Santa Clara residents, employees and visitors. Because the location has outstanding transit and freeway options, the project is ideally positioned to create a significant economic impact on the city and its neighborhoods.”
Mayor Matthews, who serves on the Valley Transportation Authority, agrees. “This location is ideal because of the transit options. Nowhere else in the county do you have the combination of freeway and rail access. We can make this a spectacular transit-oriented development.”
The potential location of the development is north of the Levi’s Stadium, adjacent to the Santa Clara Convention Center and near California’s Great America amusement park. The site is easily accessible via Highways 101, 880, 237, light rail and Amtrak.
About Related California
Related California, an affiliate of Related Companies, is a fully integrated real estate firm that develops affordable and market rate multifamily and mixed-use residential properties in California. Since opening the west coast headquarters in 1989, the company has completed more than 9,600 residential homes and has a track record of consistently developing best in class communities that represent industry benchmarks in design, construction, sustainability and property management. The company has a long history of community partnership, having collaborated with over 20 municipalities and over 25 non-proﬁt organizations throughout California. Related California has successfully developed properties in San Francisco, Alameda County, Contra Costa County, Santa Clara County, Los Angeles City, Los Angeles County, Orange County, San Bernardino County, San Diego, and San Diego County. The Related California portfolio includes more than $2.5 billion worth of developments. For more information about Related California, visit www.relatedcalifornia.com
Partial List of Related California Projects:
The Century, Century City, Los Angeles
Grand Avenue, Los Angeles
The Paramount, San Francisco
The Village at Santa Monica, Santa Monica
About Related Companies
Related Companies is the most prominent privately owned real estate firm in the United States. Formed over 39 years ago, Related is a fully integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Related has offices and major developments in New York, Boston, Chicago, Los Angeles, Las Vegas, San Francisco and South Florida and boasts a team of more than 2,000 professionals. The Company’s existing portfolio of real estate assets, valued at over $15 billion, is made up of best-in-class mixed-use, residential, retail, office, trade show and affordable properties in premier high-barrier-to-entry markets. For more information, visit www.related.com