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Lendlease and Google Part Ways on Silicon Valley Projects
Lendlease has ended its agreement with Google to build four neighborhoods in Silicon Valley, including Downtown West, an 80-acre mixed-use San Jose project, reported the Silicon Valley Business Journal. “The existing agreements are no longer mutually beneficial given current market conditions,” Lendlease said in a post Friday.
Taken together, the four projects were expected to total $15 billion in real estate investment. Along with Downtown West, they included Middlefield Park and North Bayshore in Mountain View and Moffett Park in Sunnyvale.
Although Google paused development on Downtown West earlier this year, the Business Journal reported that this isn’t the end for the projects. “We’ve been optimizing our real estate investments in the Bay Area, and part of that work is looking at a variety of options to move our development projects forward and deliver on our housing commitment,” Alexa Arena, senior director of development at Google, said in a statement.
- ◦Development
