- Provides New Apartment Homes Close to Jobs
- $7 Million Contribution for New Community Meeting Space at Civic Center and Library Complex
- Total of $61 Million in Estimated Fees and Community Benefits
- Redevelopment Conforms to Cupertino’s Approved Housing Element
CUPERTINO, CALIF. (June 1, 2015) — The Irvine Company announced today the filing of redevelopment plans for The Hamptons—currently a 342-unit apartment community in the City of Cupertino—that includes a voluntary community benefit of $7 million for a new community meeting space at the Cupertino Civic Center and Library complex.
The planning and design process for the new apartment community will take place over the next two years, adding 600 units allocated under the City’s Housing Element for a total of 942 apartment homes. If approved, construction is anticipated to begin in 2017.
The new sustainable community will use California Green Building Standards, irrigate its landscaping with recycled water and provide carless commutes for residents who work nearby. Floor plans include studio, 1-bedroom, 1-bedroom plus den, 2-bedrooms and penthouses. Residents will enjoy a host of resort-style amenities, including a state-of-the-art fitness center, Great Room and three pools.
“This redevelopment will provide new housing in close proximity to major employers and allow more people to walk or ride their bikes to work,” said Carlene Matchniff, vice president of Entitlements and Public Affairs, Northern California, for the Irvine Company. “Additionally, it will expand the amount and type of housing options for workers in Cupertino, and provide millions of dollars to the City of Cupertino through community benefits and fees.”
The redevelopment at The Hamptons will also be one of the first Cupertino projects to pay the newly adopted Housing Impact Fees of $25 per square foot for an estimated total of $12.9 million. The project will also provide more than $15 million in park and school fees (the project is in the Santa Clara Unified School District) as part of a community benefit and fee program that totals more than $61 million.
The Irvine Company volunteered to contribute $7 million for a new community meeting space at the Civic Center and Library complex because of the broad and long-lasting impact the meeting space would have on Cupertino citizens.
“As we listened to residents, it became clear that there is a real shortage of public meeting space in Cupertino,” Matchniff said. “We felt this contribution to the Civic Center and Library complex would go a long way to helping build this new facility.”
The Irvine Company also has voluntarily made the decision to pay for the extension of a pipeline that will deliver recycled water to the apartment community. With this extension, other Cupertino projects will benefit from using recycled water in this time of water conservation.
Over the last several months, the Irvine Company conducted extensive research with Cupertino workers to gain insight to design the type of housing that would best serve Cupertino residents and Apple Campus 2, which is located adjacent to The Hamptons.
“This close proximity provides the opportunity for Apple employees to reside at The Hamptons and walk to work in lieu of driving for their daily commute, helping to reduce the traffic volumes on local roads,” Matchniff said. “We are committed to working closely with the City of Cupertino to successfully maximize this trip reduction opportunity.”
In addition, The Hamptons project will contribute an estimated $7 million to traffic improvements at the North Wolfe Road/I-280 interchange after the city studies the scope of the project and creates an assessment district to fund the enhancements.
Residents at the current Hamptons apartment community can enjoy living there through the life of their leases and may choose to stay on until construction starts. The affordable apartment homes at The Hamptons will be included in the new community.
For more information about the planning process and construction schedule for The Hamptons, visit www.cupertino.org.