Related looks to score 1,000-unit development near Levi’s Stadium
Firm’s second massive resi project in the Santa Clara neighborhood
Related California is calling for an option on a nearly 1,000-unit multifamily development in Santa Clara, while it’s already running up the score with another massive project nearby that could break ground this year.
The first possible play for Stephen Ross’ firm calls for 950 units in a pair of 22-story towers at 2101 Tasman Drive. The first tower would be 950,000 square feet, with about half used for housing, and the remainder for amenities and seven levels of parking. Most of the rentals will be one- and two-bedroom units, but there will be studios and three-bedroom units, plus townhome-style dwellings.
The alternative option calls for 900 units in a pair of 580,000 square foot towers, with more than half of the space being used for housing, and the rest for amenities and a five-story garage. Rentals would include: studio, one-, two-, and three-bedroom units, plus townhome-style dwellings.
This project would be within the larger Tasman East Specific Plan, which aims to redevelop the 7.7-acre property between 2222 Calle De Luna and 2101 Tasman Drive, and bring 4,500 housing units to the city. The plan is spearheaded by the city of Santa Clara and also includes a 584-unit development by Washington-based Holland Partner Groups. The masterplan calls for the demolition of five light industrial buildings and their accessory structures.
Tasman East is across the street from the Related Santa Clara project, a massive 240-acre mixed-use neighborhood across from Levi’s Stadium with nearly six million square feet of offices, 1,680 new homes, 700 hotel rooms and retail. The developer is still working through approvals and plans to break ground sometime this summer, according to Craig Petersen from Kidder Mathews.
“There is no question that the project will transform Santa Clara,” Petersen told The Real Deal. “It’s going to be a city within a city. The challenge is how do you put all the components together successfully.”