An Irvine developer plans to build 69 homes on a site that Summer Hill in the Bay Area avoids.
City Ventures has submitted plans to build 60 townhomes and nine accessory dwelling units on a two-acre site at 37447 Fremont Avenue, Fremont, According to the San Francisco Business Times. It wants to demolish several commercial buildings on the site.
In 2019, SummerHill Apartment Communities submitted plans to redevelop the three properties into more than 200 apartments.
But after the San Ramon-based developer vacated urban land in the South Bay, north of San Jose, in early 2020, City Ventures targeted the property for its own project last spring.
The property is owned by Salwa Aboumrad. It is unclear whether City Ventures has signed an acquisition agreement.
Plans call for a solar, all-electric development, which has become standard for City Ventures projects.
The developer has been active in the Bay Area, advancing a 90-apartment project in West Oakland and acquiring two approved development sites in Oakland and Richmond in the past few weeks.
City Ventures Continue to search for growth opportunities in Northern CaliforniaIts homebuilders are facing challenging times, Phil Kerr, chief executive of its homebuilding business, said in May.
“Oakland and San Francisco — they’re both great places in the long run,” Kerr told The Business Times.
“People in these areas will continue to need housing, but there is a severe shortage of housing.”
The developer has particularly ambitious plans in Concord and is currently racing to develop as many as 16,000 homes on the 2,275-acre former Concord Naval Weapons Station. The housing project, the largest in the Bay Area, will provide homes as well as millions of square feet of schools, offices, shops and restaurants.
Last summer, City Ventures received approval to build 60 townhouses in Compton, Southern California, 10 of which were reserved for sale to moderate-income families.
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— Dana Bartholomew
