SANTA CLARA (CBS SF) – A 48-acre plot of land owned by Yahoo will be paved over to create off-site parking near the newly-constructed Levi’s Stadium.
Silicon Valley Business Journal reports the Internet giant made the decision to turn the site into a parking lot instead of the going with the original plan to build offices at the site.
In 2010, Yahoo was granted approval to build three million square feet of office space on a parcel of land located between Old Ironsides Drive and Patrick Henry Drive off of Tasman Boulevard in Santa Clara – a ten-minute walk to the stadium, according to the Business Journal.
On the San Francisco 49ers website, the parking lot already appears as one of the bigger lots on an interactive map. The 48-acre site is expected to accommodate over 7,200 vehicles.
Financial terms of the deal between Yahoo and the 49ers were not available.
The 49ers say Levi’s Stadium will have about 32,000 parking spaces available within walking distance for the 68,500 fans that the stadium can hold.
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