Lendlease has signed a deal with Google worth around AU$20 billion to jointly build mixed-use neighbourhoods in the San Francisco Bay Area.
The signing of the agreement comes after more than two years of discussions between the Australian developer and internet giant.
The Bay Area, or Silicon Valley as it is commonly known, has served as the global hub for high technology, innovation and social media for decades, with Google’s Mountain View Global HQ “Googleplex” sitting in the epicentre of the region.
According to David Radcliffe, Vice President, Real Estate and Workplace Services, Google, the new communities will be focused on a liveable and connected environment, in line with the company’s business ideology.
’We’re eager to contribute our world-class approach to creating unique urban communities, and we are focused on delivering outstanding places that redefine how people choose to live, work, connect and contribute to creating an active community,’ David says.
Over the next 10 to 15 years, Lendlease will fulfil the roles of master planning, entitlement and development of the residential, retail, hospitality and community buildings in the new neighbourhoods, while Google will focus on developing the office spaces.