[CPEO-BIF] Superfund site in Silicon Valley, California sells for $7.6 million/acre

[Lenny Siegel <lsiegel@cpeo.org>]

Sunnyvale: Plot of land sells for $186 million, 450 townhomes could come to site

By Victoria Kezra
San Jose Mercury-News (CA)
March 10, 2016

Developers have purchased a large tract of land in Sunnyvale for $186 million with plans to build 450 townhomes on the site. 

The 24.5-acre former industrial campus was sold Feb. 26 by Watt Companies to Landsea Holdings Corporation. 

The land sits in the northeastern area of Sunnyvale with Stewart Drive to the south and East Duane Avenue to the north, next to Lawrence Expressway. Its most recent tenant was the semiconductor manufacturer Spansion, which last year merged with Cypress Semiconductor. 

The area was known as "The Vale" when owned by Watt Companies. It was purchased in 2014 with residential uses in mind. In 2015 the city approved an environmental impact report that analyzed uses for 450 homes.

…

For the entire article, see
http://www.mercurynews.com/real-estate-news/ci_29617958/sunnyvale-plot-land-sells-186-million-450-townhomes

SURPRISINGLY, this article about Silicon Valley land selling for $7.6 million per acre doesn’t mention that it’s a Superfund site. See 
http://www.mercurynews.com/sunnyvale/ci_25810906/sunnyvale-debates-zoning-designation-superfund-site for an earlier article. Earlier development proposals foundered over Sunnyvale’s reluctance to accept contaminated property for a city park. - LS

--

Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org

_______________________________________________
Brownfields mailing list
Brownfields@lists.cpeo.org
http://lists.cpeo.org/listinfo.cgi/brownfields-cpeo.org