The planned investments are part of a wider $1.5 trillion effort known as the Security and Resilience Initiative (SRI), which was announced by the world's largest bank in October. Days after launch, J.P. Morgan revealed its first investment as part of initiative: a $75 million equity investment in Perpetua Resources, which is aiming to become the first US-based producer of the versatile critical mineral antimony, which has applications in the defense sphere for items like batteries and ammunition.
McCarthy Development, a Los Gatos-based real estate firm that is floating the proposal, intends to bulldoze five buildings on the site and replace them with three new buildings, according to the proposal. Designed as a high-end industrial campus, the facility can support advanced manufacturing, research and development, technology, some warehouse, and office uses, McCarthy Development stated in project plans. The three new buildings are slated to total 437,600 square feet.
