MILPITAS, Calif., August 01 — City Ventures, California’s leading builder of solar-powered, ecologically responsible homes, has announced a new partnership with the City of Milpitas to provide affordable homes at Pinnacle, its newest townhome community in Milpitas. Restricted to moderate-income, first-time buyer households, the program features ten Below Market Rate (BMR) townhomes and 8 are already sold. Homebuyers are selected through a joint review with the city.
“We’re incredibly proud to partner with the City of Milpitas to bring more choices and possibilities for first-time buyers who are looking to put down roots,” said Natasha Zabaneh, President of City Ventures. “This opportunity is a reflection of our commitment to create strong, inclusive communities––not just in Milpitas, but throughout California.”
The BMR program at Pinnacle features its popular Plan One and Plan Two designs, both offering brand-new, all-electric construction, owned solar panels, Nest thermostats, Ring doorbells, keyless entry, energy-efficient appliances. Inviting kitchens feature soft-close drawers and doors, quartz or granite countertops, designer fixtures, and efficient, induction cooktops, while outdoor decks offer beautiful spaces for entertaining and relaxing. Plan One––priced at $707,000 with a monthly HOA fee of $219––offers approximately 1,064 square feet of thoughtfully planned living space, with two bedrooms and two baths. Plan Two BMR homes are sold out.
The housing market in popular Milpitas remains extremely competitive. According to Redfin, during June the median sales price for a home in the city was just over $1.6 million, with just 1.1 months of inventory available for potential home buyers. In addition, given that nearly 60% of listings sold over list price with a median time on market of just 18 days, these BMR plans at Pinnacle provide a unique opportunity for eligible households to grab their rung on the homebuying ladder in the “Crossroads of Silicon Valley.” To date, Pinnacle’s success has been notable––more than 70% of homes are sold before model homes have had a chance to open.
“Buyers love Pinnacle’s highly desirable location, right in the center of everything that matters,” said Zabaneh. “Enjoy endless attractions at your doorstep, top-rated neighborhood schools, and convenient access to world-renowned employers throughout the Silicon Valley.” With its central Milpitas location, Pinnacle is just minutes away from multiple shopping, restaurant and recreation opportunities including Northern California’s largest indoor outlet mall, the 1,558-acre Ed R. Levin County Park, the Milpitas Sports Center, 30 local parks and two public golf courses.
Interested buyers are strongly encouraged to act quickly on this unique opportunity. To begin the application process, send an email to Pinnacle@CityVentures.com. Income limits and other restrictions apply. Pinnacle is located at 1756 Houret Court in Milpitas. Additional information about Pinnacle, including floorplans and community details, are available online at www.CityVentures.com/Pinnacle_BMR.