Saratoga Vineyard Becomes Affordable Housing | San Jose News

A $109.7 million deal just shook up Saratoga — a century-old vineyard is now in the hands of Essential Housing Asset Management, part of a major investment firm, with Lennar Homes already lined up to build. Originally purchased for $30.6 million in June 2023, the 12-acre site was eyed for 200 homes, but after city talks, the plan shrunk to 64 units: 52 market-rate homes and 12 affordable ADUs — six for very low-income residents and six for moderate-income households. The city approved the final plan in May, and while Essential Housing acts as the land bank, Lennar handles all construction. The timeline for affordable rentals remains TBD. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/877a7a66e6465929