Lendlease partners Google in £12bn development deal
Lendlease has signed a deal with Google to jointly undertake the masterplanning, entitlement and development of three major areas in the San Francisco Bay Area in California.
Lendlease will develop up to 15m sq ft of residential, retail, hospitality and other associated community uses in the new neighbourhoods, with Google focusing on developing its office space within the mixed communities.
The deal is a 10-15 year partnership valued at around $15bn (£12bn).
Lendlease has signed a deal with Google to jointly undertake the masterplanning, entitlement and development of three major areas in the San Francisco Bay Area in California.
Lendlease will develop up to 15m sq ft of residential, retail, hospitality and other associated community uses in the new neighbourhoods, with Google focusing on developing its office space within the mixed communities.
The deal is a 10-15 year partnership valued at around $15bn (£12bn).
David Radcliffe, vice president of real estate and workplace services at Google, said: “Lendlease has a wealth of knowledge and expertise in residential, retail, and mixed-use developments.
“Today’s agreement expands on an existing and successful partnership that will help us deliver on two important objectives: our commitment to accelerate the production of residential units in the Bay Area, and our plan to build mixed-use developments.
“Lendlease will play a key role in helping deliver at least 15,000 new homes on our land.”
Lendlease’s Americas chief executive Denis Hickey added: “This joint agreement between Google and Lendlease will help address the need for new housing in the San Francisco Bay Area.
“We’re eager to contribute our world-class approach to creating unique urban communities, and we are focused on delivering outstanding places that redefine how people choose to live, work, connect and contribute to creating an active community.”
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