For the past several years, there has been a great deal of rezoning of property from commercial to residential in the 94089 zip code of North Sunnyvale. Within this particular plot of land bordered by Tasman Drive on the North, Morse Avenue and Fair Oaks Avenue on the West and East, and Weddell Drive running along the South end, there's been a great land grab by various developers.
With the exception of the building pictured here, located on Fair Oaks currently leased to Paramount Tumbling and Gymnastics, various new developments have sprung up throughout the area such as City Park and Verona by luxury builder Toll Brothers, Parkside Villas, Tasman, and Crossman Place built by popular local builders Barry Swenson and Palo Alto based Classic Communities.
One of the very first developers to stake claim to North Sunnyvale is also one of the nation's largest builders, Pulte Homes, who built their first development Danbury Place of 168 homes in 2004. Since then, Pulte Homes has been actively buying more land within this small one block radius and since their 2004 debut, has built 30 homes in Danbury III in 2006, 43 homes in Danbury IV in 2007, and 36 homes in Danbury II in 2008 for a total of 277 homes.
There has been previous negotiations with the owner of the Paramount Tumbler and Gymnastics building that had not resulted in the sale of the property in past. It sounds like now, the "last man standing" is interested in re-opening talks with various builders including Pulte Homes. Could we see a Danbury Place V on the horizon?
Pricing for Danbury I homes in 2004 ranged from $590,000 - $630,000. Today, Danbury Place has only 10 homes (including model homes) remaining scheduled to all be complete by August 2008. Prices ranging from $728,900 - $834,900.
We keep our ears close to the ground for the latest real estate news to ensure our clients have the best representation. After all, new home construction affects the entire real estate market for both buyers and sellers.