The Mountain View City Council at a six-hour meeting May 5-6 made a long-awaited decision on how to divvy up Silicon Valley land use and building rights in the coveted North Bayshore district. LinkedIn got what it was hoping for. Google is now searching for a Plan B.
At stake was approximately 2.2 million square feet of commercial space that a variety of entities, including LinkedIn, Google, Broadreach Capital Partners, Rees Properties, the Sobrato Organization and others, had been vying for pieces of. At the end of the day, LinkedIn came out on top.
LinkedIn gets 1.4 million square feet for Silicon Valley land use
The council granted the social networking giant about 1.4 million of the available square feet while allocating to Google a mere 515,000 square feet, just enough for a single piece of its mammoth campus expansion project. Google rep David Radcliffe called it “a significant blow.” Google had originally requested nearly all of the available land.
Radcliffe, Google’s VP of real estate and workplace services, told the council that he wasn’t sure how he could make the 515,000-square-foot allocation “economically viable with one building.”
LinkedIn, on the other hand, was quite pleased in getting 1.4 million of the 1.6 million it had originally requested. In a post-council-meeting statement to the Silicon Valley Business Journal, the company said, “We are pleased with the city council’s decision to allow LinkedIn to build a permanent headquarters in Mountain View that will also create a sustainable mixed-use community destination.”
The City Council’s decision is not a green light for any of the entities receiving Silicon Valley land use awards to begin construction. It’s merely a go-ahead for the companies to submit formal development plans.
For a more in-depth look at the City Council’s decision, check out Nathan Donato-Weinstein’s article on the Silicon Valley Business Journal.