TMG Partners/Related Cos. team picked for Moffett Field project

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November 16, 2009
San Francisco Business Times
TMG Partners/Related Cos. team picked for Moffett Field project

A joint venture between San Francisco-based TMG Partners and the Related Cos. has been chosen to be master developer on a 77-acre research and education campus at the NASA Research Park in Moffett Field.

The TMG/Related team beat out Lowe Enterprises to win the assignment.

The University Associates-Silicon Valley LLC -- established by the University of California Santa Cruz and the Foothill-De Anza Community College District -- is overseeing the 3 million square foot Silicon Valley redevelopment. The campus will include housing, offices, classrooms and laboratories. The project is being billed as a "test bed for advances in green technologies and provide an environment that nurtures innovation, entrepreneurship, and sustainability."

TMG Partners Chairman Michael Covarrubias said the development will likely consist of 2,000 housing units and 1 million square feet of lab, classroom, and office space. While the current economic conditions and tight credit markets would not allow the project to go forward, Covarrubias said the development would be well-timed for the recovery.

"I think it's going to be a driver and not a lagging indicator," said Covarrubias. "You look at the connection of NASA and Ames and the universities and add the fact that we're talking about the middle of Silicon Valley, this is going to be a collaborative environment unlike anything else on the planet. I think we'll lead the recovery. I think we'll be building before the recovery is in full mode."

The San Francisco office of Skidmore Owings & Merrill is the master architect on the project and Steinberg Architects is also working on it.

TMG and Related will now sit down with University Associates-Silicon Valley LLC to hammer out an exclusive negotiating agreement that will outline the terms of the development relationship through pre-development activities.

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