An empty lot in Santa Clara where more than 1,000 homes were proposed — but never built — has been bought.
SANTA CLARA — An empty lot in Santa Clara where more than 1,000 homes were proposed — but never built — has been bought by an East Coast real estate investment firm.
The just-bought land totals 13.3 acres, which points to a price of slightly under $3.8 million an acre.It appears that Greystar harvested a tidy profit on the property deal, a review of county real estate records shows. During that time, Greystar proposed the development of up to 1,100 residential units along with 2,000 square feet of retail space, documents on file with the Santa Clara Planning Department show.
However, the property remains undeveloped, a direct observation in recent days of the site by this news organization shows. No indications were visible that any work has been done on what at present is a fenced-off and weed-choked site.
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