Corte De Rosa

San Jose, California 95120

HDI acquired this approximately 160,300-square-foot (3.68-acre) undeveloped property at the end of Corte de Rosa in San Jose’s Almaden Valley with the intention of developing a new residential community. In line with HDI’s core development strategy, we pursued the project to complete the full residential buildout while preserving the flexibility to sell if an appropriate opportunity arose. HDI advanced the project through the planning and entitlement process, securing an approved tentative map for eight residential homesites ranging from approximately 10,000 to 23,000 square feet. Plans were also prepared and approved for eight individual residences, positioning the property for construction within an established neighborhood featuring rolling terrain and surrounding views. Although HDI was prepared to proceed with construction, a buyer opportunity ultimately emerged that appropriately reflected the value created through the entitlement and design work. HDI sold the entire vacant property in December 2011 with the approved tentative map and residential plans in place. HDI did not construct any of the homes later developed on the property.