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No Timeline for New 3M-SF Yahoo Campus

SANTA CLARA, CA-The company paid approximately $100 million for the 46-acre assemblage back in 2006 and has been in the entitlement process for the past year.

By Brian K. Miller | Updated on October 30, 2009

SANTA CLARA, CA-Yahoo Inc. told GlobeSt.com on Friday that it’s too early to talk about a development timeline for its planned new 46-acre campus, which would include 3 million square feet in 13 buildings. The company acquired the assemblage here back in 2006 from San Francisco-based TMG Partners and has been in the entitlement process for the past year.

Yahoo currently owns and leases approximately 1.8 million square feet in Sunnyvale, where it is headquartered, and leases an additional 419,000 square feet on Great America parkway in Santa Clara. Yahoo filed an application for entitlements for the new campus development in nearby Santa Clara a little more than a year ago. The city’s planning department is now reviewing the draft environmental impact statement, which will soon be distributed for public comment. That would put the project on track to receive final approval from the City Council sometime in the first half of 2010.

While project approval could come in the near-term there are apparently no near-term development plans. A Yahoo spokesperson tells GlobeSt.com there is no timeline for development or firm plans for how the campus would be utilized. While Yahoo isn’t providing any cost estimates either such an undertaking would easily top $1 billion, according to local development sources.

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