After struggling for years to build a hotel plaza across from the new 49ers stadium, Joe Montana is teaming up with an experienced and wealthy developer that already has its sights set on Santa Clara.
Montana lost his old development partner, Lowe Enterprises, late last year amid other problems such as a squabble with the 49ers over parking. When the $400 million boutique hotel, Montana-themed restaurant and office park was proposed more than four years ago, it was supposed to open with Levi's Stadium in fall 2014. But delays ensued, and a couple months ago, the Hall of Famer conceded construction won't even begin until at least 2016.
Enter Related Cos., a mega-developer founded by Miami Dolphins owner Stephen Ross that has built $15 billion in real estate. The company has already been working with Montana for more than a year as it prepares to build a separate $6.5 billion mixed-use development planned next to the former quarterback's project.
On Thursday, Montana and Related announced they would be going a step further, joining forces to actually build the projects together, too. The partnership was unsurprising after Montana was left without a developer teammate, though it may provide a boost in helping him finally turn his blueprints into buildings.
Montana and Related said in a joint statement that "both companies share a vision for the creation of a dynamic city center," and Mayor Jamie Matthews cheered the agreement in a news release, saying he expects City Council approval of the project by the end of the year.
©2015 San Jose Mercury News. Distributed by Tribune Content Agency
