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Apple just got the green light to develop a huge new campus in San Jose

Apple just got the okay to develop a massive new site in San Jose, but the company is keeping mum on what exactly it plans to build there. 

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On Wednesday, the San Jose City Council approved the massive development deal, which gives the iPhone maker 15 years to develop a total of 4.15 million square feet on an 85 acre site in North San Jose, according to the Silicon Valley Business Journal

Apple new campus
Landbank

However, Apple reportedly does not yet know what it will build on the land. 

According to the Journal's report, the company has the right to develop it for any number of purposes, including industrial to offices for research and development. 

"The opportunity to purchase this site came very quickly to Apple,"said Kristina Raspe, senior director of real estate and development for Apple, according to the Journal. 

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"It was something we jumped on without a firm plan. We’re still studying the site to determine the best use for us. At this point, it looks like it will be office and R&D."

If the site was completely used for offices, it could house as many as 16,000 employees, according to the report.

Apple R&D San Jose campus site
City of San Jose

It should be noted that a development agreement does not require construction to occur at all. Rather, as Nathan Donato-Weinstein for the Silicon Valley Business Journal points out, it is a way for the company to lock in approvals for a longer period of time. Without the development agreement, a company's entitlements usually will expire in just a year or two. 

Companies find the agreement valuable because they help them plan more long term. 

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Apple, of course, already has its new campus, which is on a 176-acre plot of land, being constructed in Cupertino. The project is expected to be complete by the end of this year. 

Apple Campus
City of Cupertino

The ring-shaped structure, which looks like spaceship and is the main building on the new campus, is some 2.8 million square feet. 

The company is spending an estimated $5 billion to build the new Cupertino campus. 

According to the Journal, Apple spent a total of $303.8 million on 71 acres that are included in the development agreement. 

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Last year, Apple also began leasing the remaining 16 acres of land from the real estate developer Steelwave. The company plans to have 1,000 employees move into existing buildings on the site in just a few months, according to city documents.

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