Santa Clara Approves $6.5B Megaproject Near Levi's Stadium

Santa Clara’s city council late Tuesday unanimously approved the largest private development project in Silicon Valley’s history.

Related Companies is now approved to build a $6.5 billion mixed-use center and office campuses just north of Levi’s Stadium at 5155 Stars & Stripes Drive, on land now occupied by a city golf course and dirt-bike track. It will be known as City Place.

How will it affect Rivermark? Bullish?

Rivermark is already very expensive. It might get even busy with this and loose its residential charm ?? I really like the the area around lickmill blvd.

There are some high price apartment buildings in that area, like Elan for example. I think condos or townhouses near that mega project will do very well, as young people like to live near shopping and entertainment. Think Santana Row. So maybe I should sniff around that area and buy a condo there.

What! manch is competing with me!!!

You like that area as well?? :wink:

Oh wow. I drive by there everyday for Kids daycare. I wonder it will be negative effect to SFH due to increased traffic. I don’t know how did SFH price impacted when they Santana Row was being developed.

I was eyeing on this: https://www.redfin.com/CA/Santa-Clara/5023-Avenida-De-Lago-95054/home/1322632

But isn’t it rental market is quite saturated in Rivermark area already? Price seems high, but I see quite a few available rental units on Craigslist.

Could be. I long think the hardware business is dying and moving away to China. So maybe rentals in that area don’t make that much sense.

I think I toured Rivermark back in 2003 or something? When it was newly built. (Told you I’m old.) I didn’t buy because I was absolutely convinced we were in a housing bubble. Yeah, I was right. But it didn’t matter. Had I bought Rivermark in 2003 I’d have made a bundle of money.

Did it went higher than 150%?

Take this as example:

https://www.redfin.com/CA/Santa-Clara/906-Hargis-Way-95054/home/1631275

Sold for 681K in 2003.

Listed for 1,488,000 last week.

So more than doubled! :sob: :sob: :sob:

Then is slightly slower than South Bay. The same layout townhouse that I bought in 2003 and sold in 2007 is worth 150% more i.e. Selling at 250% of 2003.

That whole area is In the flight path if SJC. I always thought that’d limit values. There’s some iffy spots off Layayette in that area. That’s a prime spot for gentrification.

There are many apartment buildings on Lafayette. If they tear them down yes. If not it’s hard to gentrify.

Pending already. Only took 9 days!

Seems Rivermark is still hot.

The houses behind those apartments are generally rundown too. There’s a lot of section 8 tenants in those apartments.

SOLD! 1.625M. Gone up in value by $1M since 2003!!

1 Like