Formal permits have been filed for the townhouse redevelopment of the Homestead Shopping Center at 3521 Homestead Road in Santa Clara, Santa Clara County. The project uses Assembly Bill 3194 to rezone the land for housing and replace the 5.55-acre strip mall with 153 residents. Waymark Development is responsible for the application.
The planning application was submitted to pursue approval for the Architectural Review, Maps, and Environmental Review. One significant step will be to rezone two commercial parcels to Neighborhood Mixed Use. NMU designation allows for a density between 20-36 dwelling units per acre. The current plans, aiming to add 153 units across 5.55 acres, would achieve a 27.5 units per acre density. Unit types will vary slightly, with 90 stacked townhomes in four-story structures and 63 three-story townhomes. So far, details and plan sets have yet to be made public.
The sprawling property is located at the intersection of East Homestead Road and Lawrence Expressway, south of the city’s Koreatown. The Santa Clara Caltrain Station is just 17 minutes away by bus. Future residents will be near Cupertino and the walled-off Apple Park.
Waymark is a California-based developer with offices in San Ramon and Costa Mesa, Orange County. The real estate developer specializes in master planning with townhomes and single-family homes. SBH Homestead Properties LLC is listed as the property owner, a shell company with the same office address as the private equity company Cypress Investments. Cypress Investments and Waymark Development have yet to reply to a request for comment.
The estimated cost and timeline for construction have yet to be shared.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
Excellent. This low-density eyesore at a super-important intersection needs to be upgraded to housing. Should have been 25 years ago. But better late than never.