Chinese realty firm plans mixed-use development

Homes, retail and office space proposed for 48.6-acre tract

SANTA CLARA » A Chinabased developer wants to build a mixed-use village of offices, homes and retail at a Santa Clara site once owned by search giant Yahoo.

Kylli, a realty firm based in China with Bay Area offices in Burlingame, has proposed a development totaling millions of square feet, with thousands of residences and some retail space on a 48.6- acre site near the corner of Tasman and Patrick Henry drives.

“The large, signature property is at the crux of the revitalization of northern Santa Clara,” Kylli executives stated in a letter sent Oct. 17 to Santa Clara planners. The property, Kylli noted, is “located within walking/biking distance of regional destinations such as Great America, the 49ers stadium and the exciting new retail planned at City Place.”

In June 2016, LeEco, a China- based consumer electronics giant, bought the property from Yahoo. The site consists of four buildings and empty lots, bounded on the west by Patrick Henry Drive, on the north by Tasman Drive, on

the east by Old Ironsides Drive and on the south by a San Francisco water agency right- of-way.

LeEco had offered grandiose plans for the site, proposing 3.06 million square feet of offices.

But earlier this year, LeEco stumbled into hard times and laid off 325 employees in San Jose, the majority of its workforce in Silicon Valley.

Kylli told Santa Clara officials that it has gained control of the property from LeEco Real Estate, the LeEco unit that bought the property from Yahoo.

The developer offered the broad outline of a plan that would be even more far- reaching than what LeEco had envisioned.

Kylli intends to retain the plans for the 3.06 million square feet of offices, but now wants to add 3,500 residential units and an unspecified amount of retail space to the property, according to the proposal.

Kylli submitted the proposal to the city as a general plan amendment, which means a potentially years- long approval process looms for the project.

“A mix of housing types, rich lifestyle amenities and neighborhood-serving retail offering the best of walkable urban living” would join the massive office development on the site, Kylli told city officials.

If built, the project could greatly enhance the attractiveness of Santa Clara in luring big companies, the developer said.

“The addition of an array of new housing choices within walking distance of premiere office space will help entice new businesses to locate and grow in the city,” Kylli stated.

It also said the project could enhance “Santa Clara’s unique place in Silicon Valley.”