City of Belmont | New Bay Area Development Projects #1 - a podcast by Spencer Hsu, MBA Tech Realtor
from 2023-12-14T09:44:00.272225
Welcome to my new series! We will be reviewing what developments are happening in every city across the Bay Area. Many of you that are local here see projects and construction happening but did you know that most cities have plans to redevelop areas over the next 15 years?
Let’s learn about how Belmont is set up right now.There is approximately 2,955 acres in the current city limits with an additional 62 acres of land contained within the planning area. 46% of the land is dedicated to residential land use which is a very small ratio compared to most cities. This is why Belmont is such a popular location for their privacy. Amongst the 46%, 41% of the land are Single Family homes. 4% of the land has multifamily units and there are some duplexes in the Sterling Downs and Homeview neighborhoods.
So where are we heading to? The biggest projects coming down the pipeline is the Belmont Village Mixed use land and the Corridor mixed used land projects which are right across from each other. This is a 2035 General Plan but it gives you an idea what will be happening as there are projects already underway. Take a look at the map here. You can see that the changes will be mostly near the Caltrain station between Ralston and El Camino Real. Most of these areas will be much more dense with condos, apartment rentals, affordable housing, and mixed use retail space on the ground level.
What are examples of these projects? Here are a few coming that you can expect over the next few years. Here are pictures of Artisan Crossing. This complex will be a 4 story 250 unit multifamily residential building ranging from studios to 2 Bedroom units. 15% will be affordable units.
Another development will be 800-803 Belmont avenue.This will be on the south side of Belmont Avenue and will have a total of 125 residential apartments. They will range between 1 to 3 bedroom units.
Another development will be called Firehouse Square. This will be on the corner of El Camino Real and O’Neill Avenue which will be a 4 story mixed used building with 65 affordable rental units, 3,748 square feet of retail and commercial space on the ground level, and 15 townhomes which will be for sale at market rate.
The last one at this time is the project on Hill Street and El Camino Real. This is a 100% affordable housing project and will be a 37 unit residential project. These are slated to all be one bedroom rental units. Companies like Google and Facebook have poured hundreds of Millions of dollars for these types of affordable housing developments.
I hope this was helpful to see what is coming down the immediate pipeline in a quiet town of Belmont! Leave a comment with what you think and if there are any cities I should cover next!
--
If you’re interested in buying, selling, or investing in residential or commercial real estate in the 📍SF Bay Area, contact me today!
📞 (408) 547-4590
⏰ Set up a time to chat: https://calendly.com/spencerhsure
🌍 Find your dream Bay Area home https://www.homesbyspencerhsu.com/
🎙️ Listen to my podcast: https://redcircle.com/shows/bayarearealestate
📸Follow me on Instagram: https://www.instagram.com/spencerhsure
🧑💼 Let's connect on LinkedIn: https://www.linkedin.com/in/spencerhsu
🛎 Don’t forget to subscribe for the latest real estate tips and updates: https://forms.gle/c5xkznHLTBh7Yzgi7
🏠💲 Track the value of your home and see if it's beneficial to refinance! http://bit.ly/3aFdyMW
--
My Background: Born and raised in the Bay Area, I spent 11 years as Technology Sales Manager before becoming a Realtor. Having personally invested and done renovations through house flips in the Bay Area, I wanted to help busy professionals in the Bay Area tech industry find their dream home by leveraging tech, data and local insights. Our team specializes in creating trusted frameworks of buying, selling, and investing in the Bay Area. In 2022, we are thrilled to share that we have helped 80 clients in the Bay Area with their moves, which positions our team as the Top 1% groups in the country. Looking forward to helping you into your next home and save/earn you more money!
Spencer Hsu, MBA, Realtor
408-547-4590
EXP Realty DRE #02077253
https://www.homesbyspencerhsu.com/
#BayAreaRealEstate
Further episodes of Bay Area Real Estate Insights | Spencer Hsu Real Estate
Further podcasts by Spencer Hsu, MBA Tech Realtor
Website of Spencer Hsu, MBA Tech Realtor