Exhibit 5 - Project Description LetterLos Gatos Green – Town of Los Gatos
City Ventures is pleased to submit a proposal for a premier townhome style community development
located at 15349 & 15367 Los Gatos Blvd in the town of Los Gatos. This community is designed to engage
the town in both the built and natural environments. A central green, orange trees, community gathering
place, and an engaged pedestrian-oriented Los Gatos Blvd frontage all combine to offer an enhanced
community unlike any other. The architecture, historically grounded and unique to Los Gatos, will offer 3
story townhome style units. The proposed architecture will capture a refined style for families to grow
and thrive. Meandering paseos have been thoughtfully designed to provide connectivity for all residents
and visitors to enjoy. The outdoor space will provide a serene environment for residents to relax, socialize,
and enjoy outdoor activities.
The community will encompass 55 for-sale solar all-electric townhome style homes ranging from
approximately 202 to 1,594 sq ft, many homes encompassing a two-car private garage (88 spaces)
accessed by a common drive aisle. The community will host 47 market rate homes. Of the market rate
homes, there will be 4 units designed as live work along Los Gatos Blvd. There will be 8 inclusionary below
market rate units. Many homes will feature dedicated front yard areas and oversized decks that support
the indoor / outdoor relationship. There will be 8 floor plans, 5 residential buildings in total with 5 unique
residential building types, common area green, and 10 guest parking spaces. A blending of the newly
constructed townhomes with the existing environment will create a premier community in the town of
Los Gatos.
The project is consistent with the CH: HEOZ within the Town of Los Gatos. The project is a Housing
Development Project within the meaning of Government Code section65589.5(h)(2) and has been
designed to comply with applicable objective general plan and subdivision standards and criteria as
described in Government Code section 65589.5(j). The project qualifies as CEQA Exempt under Public
Resources Code section 21094.5 (“Class 32 Urban Infill Exemption”) and qualifies to be exempt from
parking requirements per assembly Bill No. 2097. City Ventures will be pursuing the Class 32 Urban Infill
Exemption. City Ventures is requesting a Design Review Permit, a Vesting Tentative Tract Map Permit, and
consideration under the State's SB 330 Application. Additionally, City Ventures is requesting Density Bonus
Waivers. The State Density Bonus will allow for a waiver to increase the building height, reduced setback,
and reduced parking. A concession is being requested for Below Marking Rate units to be units 5X, 6X and
8X.
We are excited to collaborate with the town of Los Gatos to pursue a project that will bring vibrancy and
much-needed housing to the neighborhood. We look forward to bringing this community to fruition. We
look forward to working with the town to address the critical need for new housing with solar all electric
townhomes and live work homes.
EXHIBIT 5
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