Federal Realty Plans Redevelopment for Mountain View Shopping Center
Federal Realty Investment Trust wants to change the face of Mountain View's San Antonio Center. The REIT submitted a master plan to the city last month that would take the center, acquired earlier this year, and turn it into a development that would likely involve retail, office and residential.
The redevelopment would create a layout of blocks and open space over the more than 31 acres now home to several big-box retail stores, including 24-Hour Fitness, Kohl's and Walmart (above is the layout of the center as it is now), and all the parking that comes with them, reports the Silicon Valley Business Journal. A city official says it's still too early to determine how the sites will be used or how much development is proposed.
The city will review the plan to make sure it is compatible with the San Antonio Precise Plan that sets the tone for development in the greater 123 acres within which the center resides. That plan, put in place late last year, would allow up to 3.2M SF of development at the site, with 1M SF of that commercial.
The center sits by Merlone Geier's The Village at San Antonio Center, a mixed-use project with 144k SF of retail and 330 apartments to be followed by 450k SF of office (already leased to LinkedIn), 106k SF more of retail, a hotel and a theater. [SVBJ]
