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Home My WebLink AboutCC 1-21-2026 Item No. 15 Dividend Homes I_Staff PresentationCC 01-21-2026 #15 Dividend Homes I Presentation This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV 20085 & 20111 Stevens Creek Blvd. Dividend Homes (Phase I) DP -2025 -001, ASA -2024 -016, TM -2024 -010, TR -2024 -045, & U -2025 -006 This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV Subject ●Consideration of a new residential development of 57 townhomes, including 11 affordable units, to replace two office buildings on a 2.6-acre site, located close to the northeast corner of the intersection of Stevens Creek Blvd and Randy Lane. ●Applicant: Dividend Homes This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV Background ●2.65-acre site across two adjacent parcels. ●20111 Stevens Creek ●26,000 square-feet office building with a day care center ●13,000 square-feet office building at 20085 Stevens Creek ●Within the Heart of the City Specific Plan Phase II This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV Background ●20111 SCB Zoned in July 2024 as a HE Site (50 – 65 DU/acre). This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV Background ●SB330 application in June 2024, locking in lower density (25 DU/acre) and other objective standards. ●December 19, 2024, Development Application was submitted. This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV Application Request – Building 1 Modification ●57-unit townhome project ●11 BMR ●6 Median Income (100- 120% AMI) ●5 Moderate Income (80-100% AMI) ●Resulting density is 21.5 DU/acre ●10 three-story buildings ranging from 2,136 – 2,656 square feet ●Qualifies for Density Bonus This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV This section may be cropped for TVAnalysis – Density Bonus – Waivers/Concessions Waivers ●Building Bulk – 1:1 Slope line along SCB ●45-foot Height limit for six of the buildings ●Front setback – Proposing 26-feet instead of required 35-feet. ●Side Setbacks –Required – 20’-8”, Proposed – 12’ ●Rear Setback - Required – 68’-10”, Proposed – 14’ ●Building Form – Not terracing to the required 1.5:1 setback to height ratio adjacent to Single-family. ●Lot Coverage - Required – 40%, Proposed – 41.2% ●Parking stall size and Tandem spaces ●Common Open Space – 8,550 required outside of setbacks, none proposed. Concession ●Elimination of Retail Requirement This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV Analysis – Density Bonus Parking Reduction ●Density Bonus Law allows qualifying projects to provide parking at a ratio of 1 parking space per studio to one -bedroom unit; 1.5 parking spaces per two - or three-bedroom unit; and 2.5 parking spaces per four- or more-bedroom unit. ●Required is 103 spaces. ●Providing 2 enclosed per unit, and 12 additional spaces unenclosed, or 126 spaces. This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV Design This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV Planning Commission 12/9/25 ●Planning Commission recommended to the Council regarding the proposed project by a 4-1 vote (Scharf voting no). ●Reduce the 4 units that are abutting Wheaton Drive to two floors, consider including hedges along the back, and consider additional trellising on the fences on the back wall. This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV Environmental Review ●The applicant requested that the development be reviewed in accordance with Assembly Bill (AB) 130, signed into law on June 30, 2025, and codified in Public Resources Code (PRC) Section 21080.66. This law exempts qualifying infill housing development from CEQA review, creating a new statutory exemption. ●The proposed project meets the criteria for statutory exemption. Accordingly, this document finds that a Notice of Exemption is appropriate for the proposed project pursuant to CEQA Guidelines Section 15062. ●The project will be conditioned to comply with the Environmental Standards adopted by the City pursuant to Chapter 17.04 of the Municipal Code. This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV Recommended Action That the City Council adopt the proposed draft resolutions: 1.Find the project exempt from the California Environmental Quality Act (CEQA) and 2.Approve the following permits: a.Development Permit (DP-2025-001) b.Use Permit (U-2025-006) c.Architectural & Site Approval Permit (ASA-2024-016) d.Tentative Final Map (TM-2024-010) e.Tree Removal Permit (TR-2024-045) This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV This section may be cropped for TV Next Step The City Council’s decision will be final unless a request for reconsideration petition is filed in compliance with CMC 2.08.096 (within 10 days of the date of the mailed notice of Council's decision). If the project is approved, the applicant may apply for building permits at that time.