"Newtown was a builder's remedy project proposed by Green Valley Corporation, a construction company affiliated with San Jose-based general contractor Swenson Builders. They submitted their preliminary application for Newtown on March 19, 2024. They initially planned to demolish the existing commercial and retail buildings on the site at at 15495 Los Gatos Blvd. and construct two apartment buildings with a total of 238 units, with 48, or 20%, of them to be set aside as affordable."
"The project clocked in at 61.7 dwelling units per acre. According to the town, the maximum density allowed by the General Plan is 20 dwelling units per acre. Town staff also said the project didn't qualify for waivers under state Density Bonus Law for this reason and that if they wanted to deviate from the town's objective requirements, they would need to invoke builders' remedy."
"Instead, Swenson went back to the drawing board and submitted an application for a new project called "Residence at Newtown" a new residential community that would occupy about 3.86 acres zoned for commercial highway use. The project consists of 80 three-story townhomes spread across 10 buildings. Plans call for 33 three-bedroom units and 47 four-unit bedrooms. Each building would be a maximum height of 40 feet."
Green Valley Corporation, affiliated with Swenson Builders, initially proposed demolishing commercial and retail buildings at 15495 Los Gatos Blvd. to build two apartment buildings totaling 238 units, with 48 affordable units. Town staff determined the project’s density of 61.7 dwelling units per acre exceeded the General Plan maximum of 20 units per acre and found the project ineligible for a limited environmental impact report and for Density Bonus Law waivers. Town staff said invoking builders' remedy would be required to deviate from objective requirements. Swenson subsequently submitted Residence at Newtown, an 80-townhome plan on 3.86 acres with shared open spaces and amenities.
Read at The Mercury News
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