Irvine Co.'s Big Santa Clara Proposal
Irvine Co continues to dominate the Santa Clara development tract, as the Newport Beach-based real estate giant is proposing 417 apartment units with about 26k SF of retail, the Silicon Valley Business Journal reports. (Last month at our Silicon Valley Construction & Development event, panelists cited a need for more mixed-use projects there.) The site sits on 6.4 acres Irvine controls at Benton Street and El Camino Real, which is currently light-industrial buildings and older homes. It's the first sizable proposal submitted after the adoption of the city's Station Area Plan, which was created in 2006 to promote high-density uses near transit.