Redwood City CA Homes For Sale

New Housing Developments Begin Including Granny Units

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On January 29, 2021 Weingarten Realty Investors submitted an updated plan for San Jose’s Cambrian Park Plaza which proposes having 30 houses to now include granny units on the ground floor. The granny unit would have its own entrance.

The second and third floors would be an entirely separate single family dwelling from the granny unit below.

One San Jose City Council member, Pam Foley, has voiced support for the addition of the granny units saying it is “one way to naturally add affordability into any project”.

With the new California wide regulations on Accessory Dwelling Units (ADUs, granny units, backyard cottages), this is likely to become commonplace for new Silicon Valley housing developments. It is a path to meeting demands placed on many Silicon Valley cities for both more housing and more affordable housing.

Redwood City Apartment Building Prices Continue to Climb

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Although large real estate investor/developer purchases don’t closely match individual homeowner purchases, the prices eventually track each other. The recent purchase of a luxury apartment complex in Redwood City called the Encore set a new high record price-per-unit of $816,666.

Large investors are still seeing increasing values for apartments in Silicon Valley. View Redwood City real estate trends for houses, townhouses, and condos.

Previous apartment complex sales have been:

  • November 2019, $814,285 per-unit for 175 units, sold by Greystar.
  • June 2019, $810,000 per-unit for 402 units, sold by Paul’s Corporatio and Fortress Investment Group.
  • June 2016, $700,000 per-unit for 305 units, sold by Greystar Franklin.
  • March 2015, $595,744 per-unit for 141 units, sold by SummerHill Apartment Communities.
  • May 2014, $628,787 per-unit for 132 units, sold by Sares Regis.