Woodside development starts with demolition: 49 homes plus 3 commercial buildings planned on Scotts Valley Drive
SCOTTS VALLEY – Demolition is under way at 5015 Scotts Valley Drive, where the 18-acre Woodside residential and commercial development will take shape this year.
San Jose developer Jim Sullivan and his partner, Castle Cos. of San Ramon, plan to build 49 single-family homes, ranging in size from 1,600 to 1,900 square feet, and three commercial buildings, 5,000 to 5,500 square feet each.
Woodside will be bigger than the development on Blue Bonnet Lane, where City Ventures of San Francisco began work in December on a 46-unit town house project.
Sullivan estimates the investment in Woodside will be “in excess of $10 million,” including the cost of land, construction and underground improvements such as stormwater and sewer systems.
Randazzo Enterprises of Castroville began demolition Saturday of a former RV dealership, which was the home to Slawinski Auction Co. until its move last year to Green Hills Road.
Clearing the site will take several weeks, Randazzo project manager Bill Lynch said Monday. He appreciated the wet weather tamping down dust.
Sullivan expects to pull a building a permit in about 60 days and construct three model homes by October or November.
“We’re confident that the market will be strong in Scotts Valley,” he said. “Look at the schools they have. It’s a lovely community.”
Each commercial building could accommodate multiple users or a single tenant.
The City Council approved the development in January 2011. Since then the developer trimmed one residential unit and got approval for the layout of the development last week.
Sullivan said the water district has agreed to a water main extension but city engineers are still reviewing the plans for the underground improvements.
The development is being built by Scotts Valley Land LLC, a joint venture created by Sullivan and Castle, which is handling the financials.
Asked how much the homes might sell for, Castle partner Steve Garrett said, “We don’t have a projected price point yet.
Wells Fargo, which has had a long relationship with Castle, provided the construction loan.
“We’re pleased they thought this was a good investment just as we did,” said Garrett, who expects the development to generate $25 million in gross sales revenue. “The South Bay is doing well and Scotts Valley is seeing part of that wake.”