"At the corner of Sunnyvale-Saratoga Road and South Mathilda Avenue, the development would consist of 162 apartments and 80 townhomes, documents show. Valley Oak Partners filed the development application and steered the proposal through the city review process. The timeline to build the project wasn't immediately known. Plans on file with Sunnyvale officials show the housing would include a two-level garage and about 2,000 square feet of commercial spaces on the ground floor."
"Florida-based Millrose Properties, acting through an affiliate, completed the purchase through an all-cash deal, county documents show. Mardit Properties sold the 5.2-acre development site. While Millrose Properties now owns the site, the real estate firm might not wind up as the eventual owner and developer. Millrose Properties provides homebuilders with a reliable flow of capital to bolster their efforts to produce residential projects. New Home Company Northern California, with an office in Roseville, has an option to buy the property from Millrose."
An East Coast real estate firm purchased a 5.2-acre site at 777 Sunnyvale-Saratoga Road for about $44.3 million. Sunnyvale officials have approved plans for 242 housing units comprising 162 apartments and 80 townhomes at the corner of Sunnyvale-Saratoga Road and South Mathilda Avenue. The proposal includes a two-level garage and about 2,000 square feet of ground-floor commercial space. Florida-based Millrose Properties completed the all-cash acquisition from Mardit Properties and may act as a capital partner rather than the eventual developer. New Home Company Northern California holds an option to buy the property. The Orchard Supply Hardware building on the site will be demolished.
Read at www.mercurynews.com
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