The property is a 2.158 acre site on two parcels that is approved as an affordable housing site. This site has been approved by the City of Novato as on of the five affordable housing sites that were submitted to the state of California as a part of the housing element of the General Plan Update. The City of Novato's housing element was certified by the state and will allow for 23 units per buildable acre. Depending on the style of units to be built, the site should support the development of between 30 - 40 units. There is an affordable component that provides for 20% of units to be built as affordable units. The site could potentially benefit from an allowed density bonus.

Location Description:

The property is located on Grant Avenue, the City's primary retail street in an area where there are a number of multi family properties. Additional neighboring uses includes churches, schools, and single family homes. The site is close to several neighborhood shopping centers and a significant number of banks and other community serving uses. The site is within walking distance to many shopping and eating opportunities.

Highlights:

>> Located Downtown Novato

>> Multi Family Development Opportunity

>> 30-40 Units

>> 2.158 Acres

Sales Info:

>> Commision split: 2.0%