Council Approves Sypnosys' Development Agreement

The voted unanimously Tuesday night to approve a development agreement that extends for six years a permit that gives Synopsys, Inc. the opportunity to consolidate its operations in the city.

This follows the long-term lease agreement Synopsys with developers Dostart Development Company, LLC and Rockwood Capital, LLC to occupy two-buildings at 690 E. Middlefield Road by 2015. The development agreeement not only advances the proposed 340,000 sq. ft., or 0.50 floor area ratio (FAR), transit-oriented project on the 15.59 acre, but includes the potential to double the project to 680,000 sq. ft., or a 1.0 FAR.

"Synopsys has been in Silicon Valley for over 20 years," said Barbara Donaldson, vice president of real estate. "We are happy to stay in a new facility."

The Mountain View-based electronic design automation company has a total of eight buildings evenly split between Mountain View and Sunnyvale, according to Donaldson. In total, Synopsys has 800,000 sq. ft. of office space.

However, 340,000 sq. ft., could fit "only the current Mountain View team," she said. "Depending on how much we are able to optimize, we will reassess." This leaves open the possibility Synopsys could move all its employees to the city.

"Synopsys wants to have more people in Mountain View than could fit in the 0.50 FAR," said Mollie Ricker, a principal with Dostart, about their lessee. She shared that had the permit to construct been allowed to expire in April 2012, "we couldn’t work quickly enough with with staff to create a great project to keep more of their company in Mountain View, and move in a portion of the staff that isn’t in Mountain View–but in Sunnyvale–together in one campus."

In consideration for the development agreement, the city receives a community benefit of $100,000 for a capital improvement project. It could be used for example, to improve the pedestrians and bicycling experience in the East Whisman area.

Since the station abuts the lot suggestions from city staff for uses included paths and crosswalks to the Middlefield Road light rail station. Councilwoman Ronit Bryant supported the idea of "using money to build improvements immediately."

"We are thrilled to have Synopsys call Mountain View the home for their corporate headquarters," said Councilwoman Laura Macias.

The approved LEED GOLD project, located within the highway triangle of 237, 85 and 101 in Mountain View, would replace three attached one-story buildings formerly owned by Hewlett-Packard.

"Our goal is to come back in front of you–with either the general plan or the existing gatekeeper authorization–and with a new project in late spring," said Steve Dostart, president of the development company, "a larger project."