New 49ers Stadium "Ahead of Schedule"

Joe Montana plans to develop surrounding land

By Stephanie Chuang
|  Wednesday, Sep 19, 2012  |  Updated 1:34 PM PDT
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A Look in the 49ers New Stadium

Stephine Chuang

Beams are up, and crews are installing metal decks and some escalators, on the new 49ers stadium in Santa Clara.

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The steel beams are up.

Construction on the new 49ers stadium in Santa Clara is on schedule. Crews are installing metal decks and some escalators.

Real estate broker Myron Von Raesfeld, whose father was city manager of Santa Clara for 25 years, says his insiders told him they are “ahead of schedule, so it seems to be moving along very well.”

The Santa Clara native adds in just the last six months, there’s been a 12 percent appreciation in Santa Clara home values.

“Now I can’t say 100 percent it’s attributed to the Niners’ stadium, but the city of Santa Clara is bringing in new people for inspectors and so they’ve got people coming in here from out of the area. We have new construction workers coming, all these people are looking for places to rent or places to live.”

Santa Clara City Councilman Kevin Moore says there were still people who doubted the success of the Santa Clara location, even after the groundbreaking ceremony. With construction now visibly progressing smoothly, Moore says potential developers are approaching the city to work out deals.

Already, Hall of Famer Joe Montana is entering into a lease-agreement with the city to develop roughly nine acres across the stadium site. The plan is to build an upscale hotel, perhaps accompanied by restaurants.

Moore said, “There’s a lot of things that are confidential right now, a lot of people coming forward with things to the city. Joe Montana is out there in the public, but there are other people coming looking at bringing projects to our city, very large projects. It’s absolutely exciting.”

The most recent numbers from last week show 72 percent of stadium suites have already been sold. Insiders say this is the first new stadium, arena or ballpark that has this many sold seats two years ahead of the opening. According to them, only 12 suites remain out of the 102 suites in the entire tower.

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