The city of Santa Clara, seeking a new government revenue stream, wants to hear what a major high-rise builder has to say about developing 230 acres next to the planned San Francisco 49ers stadium.
The City Council is poised to bestow Irvine-based Related California with the exclusive rights to negotiate development options for the city-owned land between Tasman Drive and state Highway 237 now used by a golf course and BMX bike track.
Related California made the most of the prospect to one day build retail and housing on the acreage by putting out a statement Monday that "two potential neighbors," the 49ers and the NFL team's former quarterback Joe Montana, support their effort.
"Our vision is to create a place that blends the best living, entertainment, shopping and dining experiences from the surrounding are and across the nation," said Related California president Bill Witte in the statement.
Montana has had a development option on about eight acres next to the 230-acre site since June 2012 and would like to build a hotel and bar about a block east of the 49ers stadium project.
"Our proposed project along with the Related Company's potential development will be great additions to the North of Bayshore area," Montana said in the statement.
But Montana has yet to submit a development proposal to city officials, city spokesman Dan Beerman said.
"The city has not got a plan from the Montana group," Beerman said. "We have heard nothing from him or his group, but he still has exclusive negotiating rights on that."
Montana's one-year option on the land, for which the city required no cash deposit, is good until June and can be renewed for six months, according to Ruth Shikada, the city's economic development officer.
The council at its meeting today at City Hall is to consider Related California's bid to put up $200,000 to study building options at the 230-acre site for entertainment, retail, dining and residential uses on it.
The real estate sits across Tasman Drive in Santa Clara from the site of the 49ers' $1.2 billion stadium project where the team intends to move in 2014 after its final season at Candlestick Park in San Francisco.
The land is in a section of the North Bayshore area designated for entertainment purposes, Beerman said.
"The council's been looking at what they call an entertainment district for many, many years," Beerman said. "It kind of fulfills the council's long-term plan for that area."
"It's a big deal," he said. "There is very little land left in Silicon Valley."