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424 Unit Development Site Adjacent to City Limits

Listing was updated on: 03/23/2020
424 Unit Development Site Adjacent to City Limits 424 Unit Development Site Adjacent to City Limits

Property Overview

Price/Rent PSF $ 2,730,000.00
Asset Type Land
Trade Type Sale
Acres Available 53.75
Date Available 03/23/2020
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Description

Location
Grass Valley is nestled in the Sierra Nevada foothills only one hour from both Lake Tahoe & Sacramento. Located below the snow line & above the fog for the perfect 4-season climate. Within 90 minutes of 4 major universities (UC Davis, CS Chico, CS Sacto & UN Reno) & 2 intl. airports (Sacto & Reno). Nevada County’s economy has effectively transitioned from mining/logging/construction to video tech, digital media & other high-tech industries, balanced by national-caliber arts & entertainment sectors. With superb schools & multiple national awards relating to unbeatable quality of life, the region continues to attract residents & businesses from nearby Sacramento & the Bay Area.
The property is located only one-half mile from historic Downtown Grass Valley and Highways 49 & 20, and just a few blocks from Colfax Highway 174. It is walking distance to stores and services along Colfax Highway.

Sale
An approximately 54 acre residential development site lying adjacent to Grass Valley city limits and directly in the path of development. County zoning is currently light industrial/business park, however the property lies in the City's "near term" Sphere of Influence with a General Plan designation of Urban Medium Density, allowing 4-8 dwelling units per acre, or a maximum of 424 units. Due to varied topography and environmentally sensitive areas, development will most likely be clustered and consist of single family detached & attached homes, duplexes, townhouses, condos & apartments. An +-8 acre light industrial component may be included as well near the eastern end of the property. The City has already funded a large environmental study on this property due to their interest in providing a well located site that may accommodate a sizeable addition of sorely needed housing.

Location

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