thefernandezgroup

Senior Housing is in Short Supply…

This project for sale is a 4.85 Acre Senior Housing Development Project in Gilroy, CA. One of the more valuable assets of the project is the Approved Tentative Map. The project owners have already invested over $500K for the approval process. Now the owners are retiring and wish to sell to an experienced investor and or developer.

TENTATIVE MAP APPROVED

Overview:

• $6,750,000 REDUCED to $4,500,000
• 4.85 acres
• 16 Duettes – 1 story (Planned)
• 20 Apartments – 1 story (Planned up to 28)
• 18,000 Sq Ft Commercial Building – 2 story (Planned)
• Seller Financing Available
• Development Financing Available
• 4% commission to selling broker / finder fee

Seller Financing Available

General Description
Gilroy is best known as the “Garlic Capital of the World,” and home of the annual Garlic Festival in July. But the City is also known for its peaceful residential environment, its award-winning parks, golf course and recreation programs, and for its “urban forest,” for which the City has won Tree City USA awards annually since 1979.

Community Resources
A variety of superior community facilities and resources have placed Gilroy high in recent surveys which have attempted to measure the “quality of  life” in Bay Area cities.

Major community facilities unveiled in the last decade include St. Louise Regional Hospital along U.S. 101, Wheeler Manor (senior residence) and an expanded Senior Center complex at Sixth and Hanna streets. The Gilroy library is also newly refurbished and computerized. Gavilan Community College in Gilroy is known for the beauty of its campus, set in the foothills which surround the City. Downtown, new vitality and a healthy respect for history make for a lively and interesting town center. Mature neighborhoods blend with newer homes to create an ambient atmosphere for residential areas, served by nearby schools, parks and churches, and just the right combination of rural and suburban amenities.

Population
Gilroy is a growing community with a population of about 40,153 (State Dept. of Finance, 1/1/00), representing over 2 percent of Santa Clara County. Gilroy serves as the center of a rural area of about 45,000. Projections have shown a potential population growth to 50,000 by the end of the century (ABAG Projections ‘96).

The 1990 ethnic breakdown of the City’s population is 47.7% Caucasian, 47.3% Hispanic, 3.4% Asian, 1% Black, .4% American Indian, and .3% other. The school-age population, however, shows the Hispanic student population to be over 50%.

Development Financing Available

Government
Gilroy, a charter city, is a center of government activity for the region. The Gilroy City Council is made up of seven members with four-year terms, including a separately elected mayor, who can serve any number of terms.

Climate
Gilroy’s climate strikes a pleasant balance between hot and cold, wet and dry, making it perfect for agriculture and recreation. Nestled between the Diablo and Santa Cruz mountains in the Santa Clara Valley, Gilroy residents enjoy mild temperatures, while missing most of the coastal fog. A state climatology report says up to 70 percent of Gilroy’s days are sunny, with average rainfall of about 19.11 inches. The proximity of the Pacific Ocean keeps temperatures uniform. The average annual temperature is 62.8 degrees, although it is not unusual for summer readings to top 100. The average July high temperature is near 90. Winter temperatures drop to an average of 57 degrees in January. All-time winter lows have plunged into the 20s, with the first freeze usually coming in November. The average date of the last freeze is around March 1.

The agricultural growing season ranges from 300 to 350 days a year. The average relative humidity readings reach 90 percent or more at night during the winter, but drop to around 60 percent during the day. In the summer and fall, humidity reaches 70 percent at night and 40 percent during the day. Winds out of the northwest are usually light to moderate, up to 20 miles an hour.

Earthquake activity is not uncommon, as Gilroy sits between two active faults. The Calaveras Fault runs through the eastern foothills, and the Sargent Fault runs along the western edge of the valley. The Loma Prieta quake in October 1989 was centered 15 miles northwest of Gilroy, registering 7 on the Richter Scale. A 6.2 quake hit Morgan Hill in April 1984.

Industry and Economy
Historically, Gilroy’s economy has been based in agricultural products and processing. Over the years, prunes, tomatoes, flowers, onions and, of course, garlic, have contributed to the economic health of the agricultural industries. Food processing centers have also established themselves in Gilroy, and government centers also employ many local residents. The Outlets at Gilroy, a five-phase retail complex, draws shoppers from all over the Bay Area and Central Coast regions.

The modem era has also seen an increase in interest in Gilroy as a site for expansion of “Silicon Valley.” About a thousand acres remain available for industrial growth.

To learn more about this project contact The Fernandez Group at info@thefernandezgroup.com or call our offices 1(888) 890-2416. Visit us online at http://thefernandezgroup.com