There will soon be a new residential tower, grocery store and hotel in Milpitas, CA. As of November 18th work has begun on a new development project on McCandless Drive. The Milpitas City Council approved some necessary zoning changes for the new complex to be built where currently there is a lot with vacant buildings. Everything on the site will be demolished and new construction built on 26.7 acres. The development is expected to be completed within three to four years.
The developer, Lyon Communities, based in Newport Beach, CA will build a 30,000 square foot grocery store with a nine story hotel next to it. There is no word yet on which businesses will lease the space. The residential tower will include 1,167 units, with 355 of them to be for sale. This new Milpitas development also includes some other projects to be built as well. The McCandless Drive proposal will include another 83,842 square feet of mixed use retail space, and a 175 room hotel. There will be three more residential buildings as well including one with 423 units to be known as The District, or District One. There will also be another 241 units built on Centre Pointe Drive and 114 condominiums constructed on Houret Court and Houret Drive.
All together these complex developments are expected to bring new life to this area of Milpitas. With all that shall be available, this could be a great urban village to live in. Once done the entire project is expected to bring in $5.4 million per year from hotel, property and sales taxes. $4 million of this revenue is slated for Milpitas Unified School District each year.
When you are ready to buy or sell a home, we at Haylen Group are here to help you with all of your real estate needs! If you are unsure what your options are, call Helen Chong at (408) 800-LIST or email at Helen@HaylenGroup.com. You can also visit us at our website for available listings and additional information.
