Santa Clara developer swaps office for industrial as market tanks
The Related Companies plans to cut over 1 million square feet of office space from the proposed mixed-use development in Santa Clara, replacing it with up to 1.6 million square feet of light industrial and advanced manufacturing buildings. The remaining 2.4 million square feet of planned office space will be relocated within the 240-acre site. The change in plans is due to a lack of demand for office space, according to Evette Davis, a spokesperson for the company. The proposed changes will have to be approved by the Santa Clara City Council. The development project, approved in 2016, has faced multiple delays, including an ongoing dispute over prevailing wage rates.
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