Big new mega village will be launched in Santa Clara

SANTA CLARA — A vast village of offices, hotels, shops,
restaurants, a movie complex, a food market, open spaces, and homes
in Santa Clara will begin the early stages of construction near
Levi’s Stadium this month, a project that could create tens of
thousands of jobs in Silicon Valley, officials said Wednesday.

The 240-acre project, located near Tasman Drive and Lafayette
Street, would dramatically reshape the northern section of Santa
Clara and potentially bring 25,000 jobs to the region.

“This is going to create a wide range of jobs,” said Steve
Eimer, executive vice president with Related Cos., the principal
developer of the huge project, currently dubbed Related Santa
Clara.

All told, the project will include 5.4 million square feet of
offices, 700 hotel rooms, 1,680 residential units and 1 million
square feet of retail, food, beverage, and entertainment
spaces.

The development is expected to begin site preparation during
May, and vertical construction should start sometime in 2020.

“We can provide something for everyone,” Santa Clara Mayor
Lisa Gillmore said.

Newmark Knight Frank, a commercial real estate firm, will scout
for tenants for the office portion of the project.

“Related’s Santa Clara development is a unique mixed-use
destination, on a scale and scope never before seen in Silicon
Valley,” said Phil Mahoney, executive vice chairman with Newmark
Knight Frank.

Source: FS – All – Real Estate News 1
Big new mega village will be launched in Santa Clara