City of Sunnyvale | New Bay Area Development Projects #3
Bay Area Real Estate News, Insights, Market Data, and Strategies | Spencer Hsu Real Estate12 Nov 2020

City of Sunnyvale | New Bay Area Development Projects #3

With this series, we will be looking over what developments are happening in every city across the Bay Area. Many of you that are local here see projects and construction happening but did you know that most cities have plans to redevelop areas over the next decade? Let’s dive into Sunnyvale! You will see that Sunnyvale is one of the most active cities when it comes to redevelopment.


The City of Sunnyvale has a colorful history spanning almost 100 years since its incorporation. It began as a train stop in the agricultural promised land known as “The Valley of Hearts Delights” and with planning and foresight has transitioned into its current form as a desirable residential community and strategically located high-tech job center known as the “Heart of Silicon Valley.”


Sunnyvale is now the second-largest city in Santa Clara County and the fifth-largest in the Bay Area. The City of Sunnyvale is in the flatlands of Northwest Santa Clara Valley. Less than an hour from the Pacific Ocean, it is 40 miles south of San Francisco, on the southern tip of San Francisco Bay. The City encompasses approximately 23 square miles and is at the crossroads of four of the South Bay’s major freeways and expressways, with three international airports nearby. Nearly all of the properties in Sunnyvale have development on them; only 0.5 percent of parcels are vacant. Residential areas account for the single largest land use in the city, amounting to 52 percent of the developed area. Industrial uses constitute 26 percent of the developed area.


Sunnyvale has 20 parks comprising 223 acres which is 5.7 acres of park and open space for every 1,000 residents in the City. Sunnyvale has approximately 60,000 housing units (single-family, condominiums, apartments and mobile homes). Single-family detached homes accounted for 39 percent of the housing units; single-family attached homes (townhouses and condominiums) totaled 10 percent of the housing units. Another 42 percent were multifamily (duplexes, tri-plexes, apartments), and 7 percent were mobile homes.


Sunnyvale began implementation of the Below Market Rate (BMR) Program, one of the oldest inclusionary housing programs in the country, in the early 1980s. The last major revision was in 2003, with the current ordinance requiring residential developments to provide a certain percentage of affordable units. Sunnyvale has been a model for local governments in addressing affordability issues. Through different programs they have rolled out over the years, they have created nearly 2,000 housing units with prices which are affordable to low and very-low income households.


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If you’re interested in buying, selling, or investing in residential or commercial real estate in the 📍SF Bay Area, contact me today!


📧Spencer@spencerhsu.com

📞 (408) 547-4590

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🏠💲 Track the value of your home and see if it's beneficial to refinance! http://bit.ly/3aFdyMW

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My Background: Born and raised in the Bay Area, I spent 11 years as Technology Sales Manager before becoming a Realtor. Having personally invested and done renovations through house flips in the Bay Area, I wanted to help busy professionals in the Bay Area tech industry find their dream home by leveraging tech, data and local insights. Our team specializes in creating trusted frameworks of buying, selling, and investing in the Bay Area. In 2022, we are thrilled to share that we have helped 80 clients in the Bay Area with their moves, which positions our team as the Top 1% groups in the country. Looking forward to helping you into your next home and save/earn you more money!

Spencer Hsu, MBA, Realtor

Spencer@SpencerHsu.com

408-547-4590

EXP Realty DRE #02077253

https://www.homesbyspencerhsu.com/

#BayAreaRealEstate

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