UPDATED March 5, 2015
Five other real estate development firms joined Google Inc. and LinkedIn Corp. in offering proposals to gain development rights in Mountain View’s North Bayshore area (see map above). The combined bids for the new city land-use plan encompass a total of 7 million square feet, according to reports from the San Jose Business Journal. However, the new North Bayshore Precise Plan allows only 3.4 million square feet of net new building area in the district, and of that about 1 million square feet is already spoken for.
Getting access to the city’s development reserve, however, will be no small task for each of the candidates; the developers will have to meet certain environmental and transportation targets and also offer sweeteners in the form of community benefits.
Broadreach Capital Partners’ recorded proposal at 1625 Plymouth St. is for 224,500 square feet, 6 story LEED Platinum office building, along with a separate above-grade parking garage. To access bonus FAR, Broadreach is proposing to reach LEED Platinum certification for the development and provide public benefits in form of payment to the city up to $10.2 million ($45.51 per square foot) for transportation infrastructure work. In addition, the proposal calls for a robust traffic demand management program that would achieve a 45 percent single occupancy vehicle mode goal. WRNS Studio is the architect on the project.
The Silicon Valley developer Peery-Arrillaga owns two sites on the corner of Highway 101 and Rengstorff Ave. The proposal calls for a total of five 200,000-square-foot buildings on both parcels. A public benefits package wasn’t disclosed, and ArchiRender is reported to be the architect.
Rees Properties announced a 190,000-square-foot building with three stories and an accompanying 515-space underground garage. Rees’ community benefits could include an enhancement to the neighboring habitat areas and development of facilities that would have public recreational use. Rees submitted the most detailed and comprehensive summary of all the benefits that included images of animals as well as proposed water filtration systems that would be deployed to preserve their habitat and the surrounding wetlands. According to a letter by Thomas Rees, president of Rees Properties, which was submitted to to the city, “These benefits include habitat restoration, toxic remediation, a transition zone between wildlife and humans, as well as improvements to public access, parking and amenities. We estimate these public enhancements to be worth approximately $8,880,000 or $46.75 per square foot.” WRNS Studio is the architect on this project, as well.
Cupertino-based Shashi Group’s proposal for 1625 North Shoreline Boulevard is for a roughly 100,000 square foot Gensler-designed, 200-room aloft hotel. The proposal calls for a 5-level structure, accompanied by a four-level parking structure all on a 1.3 acre site.
The most comprehensive of the four was perhaps The Sobrato Organization’s proposal. The Cupertino-based developer wants to construct four new structures with two adjacent parking buildings. In total, the buildings are proposing 411,000 square feet of net new space. The nearly $24 million worth of benefits (more than $58 per square foot) proposed by Sobrato would include a 1.5-acre parcel, which it would dedicate to the city for a possible use of a park, as well as a building that could be used by existing small businesses leased to them at below-market rates among others. The architect on this project is Arc Tec.
Map and project detail courtesy of City of Mountain View