This common equity raise is for the acquisition, entitlement and build out of our new development in Sunnyvale, CA (475 N. Fair Oaks Ave. & 585 and 595 Columbia Ave.), which is comprised of 18 3-story townhomes in the heart of Sunnyvale. The project consists of three separate parcels, each of them with multiple units, which we are stitching together into one buildable site to take advantage of the higher density allowed by their zoning designations. The site is located on the corner of Fair Oaks Ave. and Columbia Ave. which is right off of Maude Ave. and just across 101 from the Sunnyvale Google, Amazon, Lockeed Martin Campuses, among others. The property is also located 1 mile from Downtown Sunnyvale and the Sunnyvale Caltrain Station!<br/><br/>
We have completed our due diligence on the project and have removed contingencies on all three parcels. We have an extended close of escrow on all three properties, so are now moving full speed ahead to complete entitlements, receive our building permits and break ground on construction. Each of the units will be roughly 1900 square feet with a two car attached garage, 4 beds/3 baths, as well as a roof top deck! The term of this investment is roughly 24 months, in which time we will entitle, build out, and sell all 18 homes.