Almost everywhere you look, small formally littered lots as well as larger vacant parcels are being developed into new homes. As we drive around Morgan Hill there is everything from low income senior apartments to luxury homes and everything in between.
I know that some folks are shocked at the quantity of building but we must remember that during the economic downturn of 2007-2010, there was very little building. Entitlements went unused, some builders closed shop, and others simply rode out the storm waiting for brighter days. One reason we see so many homes in the downtown core is that voters passed special exemptions to the RDCS (residential development control system) in 2006 and again in 2009 allowing for 600 additional living units in the twenty block downtown area.
For me as a broker, I’m excited when ground is broken for new developments. I love visiting the models to see what the new building and space planning trends are. I’m excited about how energy efficient the new homes have become and how interiors designers perform their magic in these new spaces.
Although many of the new models retain separate living and family rooms, the trend towards a single great room is one of my favorites. We are starting to see covered lanai’s , faux stone on walls, a return to coffered or beamed wood ceilings, and energy efficiencies that are the best they have ever been.
We’re also seeing an influx of new builders in Morgan Hill. They include KB Homes, DeNova, Tri Point, Taylor Morrison, Meritage, City Ventures, Standard Pacific, Benchmark and Monterey Dynasty. They add to quality builders like Dividend, Gera, Latala and a few others who have been building here for many years.
KB currently has four projects in Morgan Hill. Sherimar Ranch off Diana and Hill, which is almost sold out features single family homes on large lots. Milano at Murphy and Condit features condos and townhouses, Edmondson Park and Piazza Park have single family or single family attached homes.
Standard Pacific is building single family homes at the Rose Garden which is located near Barrett and San Pedro. Homes range from 2078 Sf to 3873 SF. A total of 53 homes are to be built.
Tri Point has two developments, Ironhorse and Jasper Park, both located off Dunne. The Ironhorse homes are sold out, and only four at Jasper Park remain available. The tract includes townhomes and single family homes.
Taylor Morrison has one development in progress and one more coming. The current project is Madrone Plaza at the corner of Monterey and Cochrane. There will be 17 single family homes and 120 townhouses. They range from 1503 Sf to 1929 Sf. Their second project is Walnut Grove, behind Home Depot, which will feature 49 single family homes.
City Ventures is building on Dunne across from the community center. They feature 43 homes of which eight will be patio homes and 35 will be townhouses. They range from 1744 SF to 2264 Sf. City also has another project coming called San Gregorio, which will be off Hale near Llagas.
Meritage is planning 108 homes between Hale and Monterey on the North end of town. Gera has almost completed Pear Tree Estates, and will be starting 12 homes at Church and Tennant. Union Community Partners is planning 23 single family homes on Dunne between Peppertree and Pine, and another 46 homes on Tilton.
Local favorite Dividend homes sold out the Mission Ranch development is close to selling out Alicante. They have begun two new developments: Terra Mia and Amadora. Terra Mia features single family homes ranging from 2289 SF to 3709 SF and is located off Mission View near Alicante. Amadora will feature the same models as Alicante and is located on Clayton north of Peebles. Dividend is also planning a 55+ community off Watsonville Rd. which will be named Connemara.
Last but not least, San Sebastian Estates will be a gated, luxury home community built on the site of Borello Farms. 244 homes are planned in this unique project which will be first of its kind in Morgan Hill. Homes range from 3003 Sf to 5507 SF and from what I’ve seen, this will really be special.
It’s a great time to be a home buyer. Rates are really low, banks are lending again and your choices for either a re-sale home or a new home has never been better.