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Joe Montana Plans Luxury Hotel Complex Near New Stadium

Filed under: Sports, Real Estate Developments

Is former professional football player Joe Montana getting into the restaurant business? The San Jose Mercury News says that Montana and former San Francisco 49ers owner Eddie DeBartolo Jr. and a third business partner, developer Kurt Wittek, are looking into building a luxury hotel, sports bar, upscale restaurant and entertainment complex on city-owned land near the planned $937-million, 68,500-seat stadium in Santa Clara, California. Montana and his partners have asked Santa Clara officials for an 18-month exclusive negotiating agreement to complete a deal. A decision won't be rendered until next year but part of Santa Clara's long-term plans for the stadium's surrounding areas do include building it out as an entertainment destination.

The 49ers team also has the right to enter its own proposal for any real estate project on the site and has told city officials it would waive that right for the Montana-DeBartolo deal. Neither Montana nor DeBartolo has any direct role with the team anymore but their connection to the glory days of the 49er franchise is a powerful bond. DeBartolo, lost control of the 49ers to his sister Denise DeBartolo York in 2000. The stadium is set to open in 2015 and the hotel would open around the same time and hotel taxes could help the city finance its share of the stadium.

Montana's other business deals include a partnership with Kurt Wittek in a $300 million mixed-use residential and retail development project near the South Hayward BART station and the Montagia wine which is crafted by Beringer winemaker Ed Sbragia in conjunction with Montana. He put his Calistoga, California wine estate, Villa Montana, on the market for $49 million last year.

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