SANTA CLARA — The Core Cos. proposed the construction of 44 townhomes as the last component of an agrihood development in Santa Clara.
The neighborhood at 76 North Winchester Blvd. near Stevens Creek Boulevard currently has 165 affordable senior and veteran housing units, an active urban farm, community gathering spaces and a local coffee shop, according to real estate firm Core Cos.
The for-sale townhomes represent a shift from a previous vision for the project. Initially, Core Cos. proposed 160 market-rate apartments, a plan Santa Clara officials approved in 2019.
“The townhomes represent a revised approach that meets the needs of Santa Clara,” Core Cos. said in a statement provided to this news organization, while noting that market-rate apartments are “no longer financially feasible.”
Rising construction costs, a jump in interest rates, and tighter financing requirements have created a rough road for development, according to Core Cos.
“The hard reality is that getting almost any new housing to pencil out financially in the Bay Area is extremely challenging and the reason that many projects are delayed for years or simply die,” said Louis Mirante, a Bay Area Council senior vice president for public policy. “This is an opportunity we can’t afford to pass up.”
If city planners approve the proposal, construction of the townhomes could begin in early 2027, according to Core Cos.
“Agrihood has always been about creating a vibrant, inclusive community where residents can put down roots,” said Vince Cantore, a senior vice president of Core Cos. “This proposal moves that vision forward.”
The Santa Clara Planning Commission was scheduled to review the project on Oct. 7.
An estimated 15% of the townhomes will be sold at below-market prices, according to Core Cos.
“The new proposal provides a practical way to create housing that still fits within the original Agrihood vision,” Cantore said. “These townhomes will create new opportunities for families, young professionals, and longtime Santa Clarans to become homeowners.”
Lora Rodstein, vice president of the Anza at Agrihood Homeowners Association, said her group supports the concept of for-sale townhomes to complete the project.
“Those of us who live here see the agrihood vision coming to life, and we also see the empty parcel still waiting to become part of the neighborhood,” Rodstein said.
Street-level view of the Agrihood residential development at 76 North Winchester Boulevard near Stevens Creek Boulevard, image concept. (Steinberg Hart)