A 9-acre property near Levi’s Stadium could hold nearly 950 apartments, according to marketing materials being shopped by brokerage JLL, but the site has sat without a construction timeline since its previous owner lost control of it in a foreclosure. The parcels at 2101 Tasman Drive and 2222 Calle de Luna sit close to major employers and light rail, a location that has made the site attractive to developers for more than a decade even as plans for it have repeatedly stalled.
According to Silicon Valley Business Journal, JLL is pitching development concepts for the site ranging from about 600 apartments to nearly 950 units. The listing comes months after lender BrightSpire Capital, acting through an affiliate, took control of the property through a deed in lieu of foreclosure, according to Mercury News. Public real estate documents filed Aug. 12, 2025, show a Related Cos. affiliate surrendered its ownership of the property, per that same outlet’s reporting.
The 9-acre site had been slated for nearly 950 housing units before the foreclosure, Bisnow reported in its own account of the lender takeover. Bisnow’s report also noted that construction on the planned residential project never got off the ground, and that no plans had been announced for the Santa Clara property in the aftermath of the foreclosure.
A Deal That Soured After Years of Financing
The Related-controlled entity originally bought the two parcels in 2015, though the reported price differs by source: Mercury News puts the figure at $64.1 million, while Bisnow cites $64 million. BrightSpire Capital provided the Related California affiliate with the loan tied to the property in 2019, the Mercury News report states…