An artist rendering of the largest development project in Silicon Valley that was recently approved by the City of Santa Clara. (Courtesy of Related California)
Laura Oda An artist rendering of the largest development project in Silicon Valley that was recently approved by the City of Santa Clara. (Courtesy of Related California)

The Santa Clara City Council gave the thumbs up to a $6.5 billion development deal that includes retail, offices, a hotel, and apartments.

The 9.7 million-square-foot City Place -- described as the largest private development project in Silicon Valley's history -- is to be built by the Related Companies on 240 acres of city-owned land across from Levi Stadium. Plans call for up to 5.7 million square feet of offices, 1.1 million square feet of retail space, 700 hotel rooms and from 200 to 1,680 apartments, as well as a 35-acre park, reports Richard Scheinin of the Bay Area News Group.

The city has projected that it will receive up to $16.9 million in annual tax benefits, along with $9 million to $14 million in yearly rent revenues, once the project is up and running.

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