Townhomes Planned for Silicon Valley Tech Campus

A San Jose-based real estate firm is planning to build a residential development on 38 acres of Oracle’s office and research campus in Santa Clara.

Documents filed with city planners indicate that Valley Oak Partners plans to build several hundred homes on a section of the Oracle campus in proximity to the interchange of Montague Expressway and Lafayette Street.

The plans envision 416 townhomes in three distinct neighborhoods, 120 apartments designated as affordable apartments, and 48 single-family homes, according to a report in the San Jose Mercury News.

“Valley Oak Partners is excited to present this 38-acre residential development encompassing a diverse array of housing types connected by a sophisticated network of open spaces,” the company said, according to a document on file.

In December 2022, Oracle list for sale nearly 53 acres of its 81-acre tech campus near Montague Expressway and Highway 101 in Santa Clara. Oracle bought the property, which once was home to a state mental hospital, in 2010 from Sun Microsystems.

The former site of Agnews State Hospital includes an historic Clock Tower. Valley Oak Partners indicated in its plans that the design concept for its project will focus on open space.

Open space components of the plans include a 2.6-acre active park and a 2.3-acre park near the Clock Tower, with multiple linear green belts linking the parks and neighborhoods to the Agnews Historic Park, which spans nearly 15 acres.

The three residential communities envisioned by the plan will each have a distinct look and field, according to the planning documents cited in the report.

“The wide range of housing types is matched by a diversity of architectural styles,” the documents said. “The affordable apartments and three-story townhomes embrace a warm and modern aesthetic. The two-story townhomes and single-family homes take on a more traditional look.”

After announcing at the end of 2020 it was moving its headquarters from Silicon Valley to Austin, Oracle began reducing its California footprint as part of a 20% global downsizing.

By the end of 2022, the tech giant had reduced its global footprint from an estimated 24M SF by more than 5M SF. The space reduction included the sale of a 17-story office tower Oracle owned in San Jose for $155M.

Multifamily Spring:

Multifamily Spring is coming to New York City this April 18. This year’s program will bring together the industry’s most influential and knowledgeable real estate executives from the multifamily sector for 5 hours of face-to-face networking and over 5.5 hours of can’t miss sessions. Learn more or register here.