SUNNYVALE OPENS BELOW-MARKET-RATE HOUSING WAIT LIST

SUNNYVALE, Calif. – The City of Sunnyvale will open the Below-Market-Rate (BMR) housing wait list
for a one-month period, beginning February 1. Applications will be accepted by the City’s Housing Division through February 28. The BMR program assists first-time homebuyers who want to buy an affordable home for sale in Sunnyvale and helps meet the need for additional affordable housing within the county.

In order to be eligible for the Sunnyvale real estate BMR program, applicants must live or work in Sunnyvale, and have a total household income within the moderate income range for their household size. For example, minimum income for a household of four people is $73,850, and the maximum is $126,600. If accepted on the waiting list to purchase a Sunnyvale real estate BMR home, homebuyers must submit a full application, verifiable documentation of eligibility, and agree to comply with the program benefits and requirements, which include participation in pre- and post-purchase educational programs.

There are more than 200 BMR homes available for purchase throughout the City of Sunnyvale, and approximately 200 additional BMR homes scheduled to become available in the next three years. Current sales prices for BMR properties range from $190,822 for a one-bedroom home, to $269,115 for a four-bedroom home. At the time of purchase, buyers must have a minimum of 3 percent of the purchase price and closing costs in readily-available funds for a downpayment.

The Sunnyvale City Council created the BMR Home Ownership Program to provide home ownership opportunities for low- to moderate-income households. Residential developers building projects with nine or more for-sale units are required to set aside 12.5 percent of the units as BMR homes to be sold at reduced prices.

BMR applications are available at Sunnyvale City Hall, 456 W. Olive Ave., Sunnyvale Public Library, 665 W. Olive Ave., and on the City Web site at AffordableHousing.inSunnyvale.com. For more information, call (408) 730-7456, TDD (408) 730-7501. Completed applications must be returned to City Hall by 4 p.m., February 28.

SUNNYVALE APPROVES DOWNTOWN REAL ESTATE DEVELOPMENT PLAN
Unanimous vote will allow project sale, construction restart
SUNNYVALE, Calif. – By a unanimous vote, Sunnyvale City Council and Redevelopment Agency (RDA) approved a series of motions that will allow the partnership of RREEF and Sand Hill Properties to purchase the mostly-shuttered Sunnyvale Town Center Real Estate and begin site redevelopment. While the central Sunnyvale Town Center mall buildings have been closed for some time, independently-owned Macys and Target have remained open for business. The actions were taken at the Sunnyvale Council and RDA’s regular meeting last night (Tuesday, February 6).
“We have taken a giant step forward this evening,” said Sunnyvale Mayor Otto Lee, following the meeting. “RREEF and Sand Hill, working with City of Sunnyvale staff, have brought us a project that both meets the requirements of our Sunnyvale Downtown Specific Plan, yet moves well ahead of the plan proposed by the previous developer. This is an exciting project that will move us closer to the vibrant downtown Sunnyvale wants and deserves. I am very pleased my fellow Councilmembers saw fit to unanimously endorse this key development.”
The Sunnyvale real estate project came to a halt in early 2006 when developer Fourth Quarter Properties ceased work on the site after razing a parking garage, the first step in the demolition work. The City of Sunnyvale found Fourth Quarter in breach of their contract and, late last year, began to move to take over the project. That’s when Fourth Quarter proposed selling the project to a joint venture between RREEF, a global financing organization, and local developer Sand Hill Properties.
Complete Article: Click Here

Sunnyvale Real Estate at the Town Center has New Plans for the City Counsel to Approve.
I have put in all the links below to the proposed Revisions of the Sunnyvale Town Center Real Estate. The are all .pdf files and I really like the idea of re-connecting Murphy Ave to help the current Sunnyvale downtown businesses as well.

Design for new Sunnyvale city core adds hotel, more retail space
An ambitious new real estate development team in Sunnyvale says it has stripped previous plans to create a thinly veiled shopping mall in the city's core in favor of a more traditional downtown.
In public meetings last week, Sand Hill Property Co., architects and city planners presented designs for a new Sunnyvale downtown, which would add a hotel, more restaurant space and a supermarket to earlier plans.
Complete Article: Click Here

2007 Sunnyvale Real Estate Town Center Plans - .pdf files/drawings

SUNNYVALE PROPOSED SITE PLANS
Towncenter Coversheet
Towncenter Site Plan - Basement Level
Towncenter Site Plan - Street Level
Towncenter Site Plan - Mezzanine Level
Towncenter Site Plan - 2nd Level
Towncenter Site Plan - 3rd Level
Towncenter Site Plan - 4th Level
Towncenter Site Plan - 5th Level
Towncenter Site Plan - Roof Plan

SUNNYVALE PROPOSED ELEVATIONS
Towncenter Elevation - McKinley
Towncenter Elevation - Murphy Macys Target
Towncenter Elevation - Washington
Towncenter Elevation - McKinley Mathilda
Towncenter Elevation - Site Sections 1
Towncenter Elevation - Site Sections 2

SUNNYVALE PROPOSED PERSPECTIVES
Towncenter Perspective - East McKinley
Towncenter Perspective - Redwood Plaza 1
Towncenter Perspective - Theater on McKinley
Towncenter Perspective - Target on McKinley
Towncenter Perspective - Food Court
Towncenter Perspective - Redwood Plaza 2
Towncenter Circulation Plan - Street Level

SUNNYVALE PROPOSED HEIGHT, SOLAR AND LANDSCAPE PLANS
Towncenter Building Height Plan
Towncenter Sun - Shade Study
Towncenter Landscape Plan - Master
Towncenter Landscape Plan - McKinley Taaffe
Towncenter Landscape Plan - Redwood Plaza
Towncenter Landscape Plan - Murphy