SARATOGA — A developer has bought a big chunk of land in Saratoga where the real estate firm has proposed the construction of hundreds of homes through a streamlined planning process.
Acting through an affiliate, a group of South Bay business executives have bought a property near the corner of Chester Avenue and Allendale Drive in Saratoga, according to documents filed on June 20 with the Santa Clara County Recorder’s Office.
Vineyard One housing development at 14001 Chester Avenue in Saratoga, site plan. (SDG Architects)
The group paid $30.6 million for the potential development site, the county documents show.
Bellicitti Family Partnership sold the Saratoga site to the business executives, who are Thomas J. Wilson, Dustin T. Mannina, Sachneel Patel and Jeffrey Bader, according to the real estate public records.
The real estate allies are planning to develop a 238-unit residential project on an 11.6-acre site in Saratoga, city planning documents and a post on the development website show.
The proposed development would consist of 85 townhomes, 84 residential flats, 24 single-family detached units, and 45 attached accessory dwelling units, according to a letter posted by the Saratoga Planning Department.
The project is making its way through the Saratoga city review process, city records show. This news organization reached out to Wilson to seek a comment about the project.
The real estate alliance also obtained a $23.3 million loan from West Cost Community Bank at the time of the purchase, the county real estate records show.