Montana Struggling to Get Development Near Stadium
Joe Montana is still looking for the end zone as a real estate developer.The 49ers' Hall of Fame quarterback is trying to seal the deal on a $400 million hotel, office and retail complex next door to Levi's Stadium in Santa Clara that he has been pushing for the past four years.But the project is still on hold -- with another delay pushing back construction to 2016 at the earliest, according to reports.The San Jose Mercury News notes that Montana's partner on the deal has dropped out, and there's questions about how the 49ers will be compensated for the loss of parking spaces on the site when and if it is developed.Montana still has exclusive rights to develop the 9-acre parcel of city-owned land in Santa Clara, and the local city council is poised to extend his golden deal on Tuesday.He'll use his "star power" again to ask for the rights to be extended until 2017 -- a five-year stretch since elected officials allowed him to negotiate to get the public land developed in 2012.The land is currently a parking lot used for Levi's Stadium, the newspaper reported.Montana's dream for the complex also includes a sports bar and restaurant, in addition to the hotel.Photo Credit:...
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