gmhTODAY 01 gmhToday Mar Apr 2015 - Page 31

Gilroy Is Growing! T wo of the larger housing develop- ment projects, Glen Loma Ranch and The Heartland, are bringing close to 1,900 new residential units to the southwest area of the City by 2020. Both projects are well underway, with both aiming to move families in by the end of this year. The Glen Loma Ranch project was approved for up to 1,693 total homes, which will be divided into 17 distinct neighbor- hoods. The project area consists of 359 acres, and is bound by Uvas Creek to the north and Santa Teresa Boulevard to the south. This area includes 145 acres of parks and open space, with an extensive trail system linking the neighborhoods and a town center component. Phase 1A is being carried out by Standard Pacific Homes & Brookfield Homes, which encompasses four neighbor- hoods consisting of 274 homes. Standard Pacific has assumed the responsibility of “master developer” of Phase 1A, and will complete the public park and trails within Glen Loma Ranch, as well as the improve- ment of the Santa Teresa Boulevard/Miller Avenue intersection. Standard Pacific has stated that the intersection will be changed to a roundabout intersection, similar to the Thomas Road/Luchessa Avenue intersection that was recently completed. Standard Pacific will build 146 of the initial 274 homes, in two neighbor- hoods identified as “Vista Bella” and “Zinfandel.” The typical lot sizes of the 94-lot “Vista Bella” neighborhood are 45 ’x 90’ and conceptual home sizes may range from 2500-3100 ft2. Typical lot sizes for the 52-lot “Zinfandel” neighbor- hood are slightly larger at 55’ x 100’, with conceptual home sizes of 3300-3800 ft2. Site production for Standard Pacific has already begun, with infrastructure, park and trail improvements continuing throughout the year. Brookfield’s “Mataro” neighborhood includes 51 lots averaging 7000 ft2, with homes ranging from 3200-3700 ft2. The “Ambrosia” neighborhood contains the remaining 77 lots, which will have homes in the range of 2100-2500 ft2 on 4000 ft2 lots. Brookfield plans to have homes available for sale in the third quarter of this year, with models opening at that time. The Heartland Project, by Meritage Homes, will consist of 186 homes adjacent to the Uvas Creek Preserve, in the area west of Santa Teresa Boulevard and south of Hecker Pass Hwy. Meritage will be building nine floor plans in this gated community, which is roughly 45 acres worth of housing sites and will include walking trails and a park. Construction of the first phase, encompassing 30 homes, will begin in January 2015, with the first models opening in early March. Home sizes range from roughly 1900-3000 ft2, with a price range of $565,990-$703,990. Article & Stats Provided By: Marta Dinsmore, Realtor Intero Real Estate Services 408.840.7420 DRE #01352339 Sean Dinsmore, Realtor Intero Real Estate Services 408.840.7327 DRE #01966405 August 1, 2014 thru October 31, 2014 Total Listings November 1, 2014 thru January 31, 2015 59 Short Sale 42 2 Average List Price 0 $874K Average days on market $949K 57 42 Closed Sales 131 129 Short Sale 5 5 Average Sales Price $655K $677K Average List Price $663K $677K Average Days on Market G M H T O D A Y M A G A Z I N E 49 MARCH / APRIL 2015 50 31