SUNNYVALE, CA—Watt Companies hopes to convert a Silicon Valley industrial/tech campus to a residential complex, and is awaiting approval from local officials for the plan.
The Santa Monica-based developer has submitted a plant to convert the Spansion campus, which it acquired earlier this year for $60 million. The Silicon Valley Business Journal says the Sunnyvale Planning Commission is considering a zoning request for the project, but that a decision on the matter might not come without some debate.
Watt's proposal, is not the first attempt to redevelop the aging campus that is on Federal Superfund list. Two other residential developers have optioned the land, but did not move forward.
Spansion remains in the space on a net-lease agreement. Watt's plans call for demolishing industrial buildings and building up to 521 for-sale units on the site
The Journal says Watt might be well suited for the endeavor, as it has extensive experience redeveloping brownfield sites.
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