Lennar Homes and Kennedy Lewis Investment Management have purchased nearly ten acres at 3401 Crow Canyon Road in San Ramon, Contra Costa County. The team received approval to replace two office structures with 117 new homes.
Lennar and Kennedy Lewis purchased the site from Nearon Enterprises last month for $40.5 million. George Avalos first reported the sale for the Bay Area News Group.
The proposal, named the Iron Horse Village, could create 117 units, with 86 detached single-family homes and 31 units in attached townhome buildings. Future property owners will have the option to increase the density even further, with half of the detached single-family homes allowed to add a Junior Additional Dwelling Unit, increasing the overall capacity to 165 residences. Five units will be designated affordable housing, and eight will be live-work units.
William Hezmalhalch Architects is responsible for the design as the project architect. The architectural style will be familiar to residents of the Tri-Valley area. The planning documents describe three themes: Urban Prairie, Contemporary, and Modern Farmhouse. Facade materials will include stucco, trim, fiber cement lap siding, boards, and battens.
CBG will be the civil engineer, and Environmental Foresight Inc. will be the landscape architect. Much of the property will be transformed by a network of internal streets. A narrow green paseo will run through the interior of the block from the Iron Horse Trail, giving residents and the public access to a small strip of greenery.
The property is located within the North Camino Ramon Specific Plan. The mixed-use designation allows the property to be built with a density of 14 to 30 units per acre. The proposal achieves 14.5 units per acre, excluding the JADUs, or 22.7 units per acre when counting the JADUs. The property site will have a direct connection to the Iron Horse Trail that runs along the western edge of the lot. The trail is a popular pedestrian and bike pathway
The estimated cost and timeline for construction have yet to be shared.