CC 01-21-2026
#15
Dividend Homes I
Presentation
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20085 & 20111 Stevens Creek Blvd.
Dividend Homes (Phase I)
DP-2025-001, ASA-2024-016, TM-2024-010,
TR-2024-045, & U-2025-006
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Subject
● Consideration of a new residential
development of 57 townhomes, including
11 affordable units, to replace two office
buildings on a 2.6-acre site, located close to
the northeast corner of the intersection of
Stevens Creek Blvd and Randy Lane.
● Applicant: Dividend Homes
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Background
● 2.65-acre site across two
adjacent parcels.
● 20111 Stevens Creek
● 26,000 square-feet
office building with a
day care center
● 13,000 square-feet
office building at 20085
Stevens Creek
● Within the Heart of the City
Specific Plan
Phase II
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Background
● 20111 SCB Zoned in July 2024 as a HE
Site (50 – 65 DU/acre).
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Background
● SB330 application in June 2024,
locking in lower density (25 DU/acre)
and other objective standards.
● December 19, 2024, Development
Application was submitted.
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Application Request – Building 1
Modification
● 57-unit townhome project
● 11 BMR
● 6 Median Income (100-
120% AMI)
● 5 Moderate Income
(80-100% AMI)
● Resulting density is 21.5
DU/acre
● 10 three-story buildings ranging
from 2,136 – 2,656 square feet
● Qualifies for Density Bonus
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Analysis – Density Bonus –
Waivers/Concessions
Waivers
● Building Bulk – 1:1 Slope line along SCB
● 45-foot Height limit for six of the buildings
● Front setback – Proposing 26-feet instead of required 35-feet. ● Side Setbacks –Required – 20’-8”, Proposed – 12’
● Rear Setback - Required – 68’-10”, Proposed – 14’
● Building Form – Not terracing to the required 1.5:1 setback to height ratio adjacent to Single-family.
● Lot Coverage - Required – 40%, Proposed – 41.2%
● Parking stall size and Tandem spaces
● Common Open Space – 8,550 required outside of setbacks, none proposed.
Concession
● Elimination of Retail Requirement
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Analysis – Density Bonus
Parking Reduction
● Density Bonus Law allows qualifying projects to provide parking at a ratio of 1 parking space per studio to one -bedroom unit; 1.5 parking spaces per two - or three-bedroom unit; and 2.5 parking spaces per four- or more-bedroom unit.
● Required is 103 spaces.
● Providing 2 enclosed per unit, and 12 additional spaces unenclosed, or 126 spaces.
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Design
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Planning Commission 12/9/25
● Planning Commission recommended to
the Council regarding the proposed
project by a 4-1 vote (Scharf voting no).
● Reduce the 4 units that are abutting
Wheaton Drive to two floors, consider
including hedges along the back, and
consider additional trellising on the fences
on the back wall.
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Environmental Review
● The applicant requested that the development be
reviewed in accordance with Assembly Bill (AB) 130,
signed into law on June 30, 2025, and codified in Public Resources Code (PRC) Section 21080.66. This law exempts qualifying infill housing development from CEQA review, creating a new statutory exemption.
● The proposed project meets the criteria for statutory exemption. Accordingly, this document finds that a
Notice of Exemption is appropriate for the proposed
project pursuant to CEQA Guidelines Section 15062.
● The project will be conditioned to comply with the
Environmental Standards adopted by the City pursuant to Chapter 17.04 of the Municipal Code.
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Recommended Action
That the City Council adopt the proposed draft resolutions:
1. Find the project exempt from the California Environmental Quality Act (CEQA) and
2. Approve the following permits:
a. Development Permit (DP-2025-001)
b. Use Permit (U-2025-006)
c. Architectural & Site Approval Permit (ASA-2024-016)
d. Tentative Final Map (TM-2024-010)
e. Tree Removal Permit (TR-2024-045)
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Next Step
The City Council’s decision will be final unless a
request for reconsideration petition is filed in
compliance with CMC 2.08.096 (within 10 days
of the date of the mailed notice of Council's
decision). If the project is approved, the
applicant may apply for building permits at
that time.
CC 01-21-2026
#16
Dividend Homes II
Presentation
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20045 & 20065 Stevens Creek Blvd.
Dividend Homes (Phase II)
DP-2025-002, ASA-2025-004, TM-2025-002,
TR-2025-002, & U-2025-007
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Subject
● Consider a new residential development of
32 townhomes, including 6 affordable units,
to replace three office buildings on a 1.77-
acre site, located mid-block corner on
Stevens Creek Boulevard between Randy
Lane and Blaney Avenue.
● Applicant: Dividend Homes
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Background
● 1.77-acre site across two
adjacent parcels.
● 20065 Stevens Creek
● 8,200 square-feet office
building
● 17,900 square-feet
office building at 20085
Stevens Creek
● Within the Heart of the City
Specific Plan
Phase I
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Background
● SB330 application in February 2025,
locking in lower density (25 DU/acre)
and other objective standards.
● March 3, 2025, Development
Application was submitted.
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Application Request – Building 1
Modification
● 32-unit townhome project
● 6 BMR
● 3 Median Income (100-
120% AMI)
● 3 Moderate Income
(80-100% AMI)
● Resulting density is 18.1
DU/acre
● 5 three-story buildings ranging
from 2,136 – 2,704 square feet
● Qualifies for Density Bonus
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Analysis – Density Bonus –
Waivers/Concessions
Waivers
● Building Bulk – 1:1 Slope line along SCB
● Front setback – Proposing 26-feet instead of required 35-feet. ● Side Setbacks –Required – 22’-3” & 21’-6”, Proposed – 11’ & 20’4” ● Rear Setback - Required – 66’-9”, Proposed – 13’
● Building Form – Not terracing to the required 1.5:1 setback to height ratio adjacent to Single-family.
● Tandem spaces
● Common Open Space – 4,800 required outside of setbacks, none proposed.
Concession
● Elimination of Retail Requirement
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Analysis – Density Bonus
Parking Reduction
● Density Bonus Law allows qualifying projects to provide parking at a ratio of 1 parking space per studio to one -bedroom unit; 1.5 parking spaces per two - or three-bedroom unit; and 2.5 parking spaces per four- or more-bedroom unit.
● Required is 60 spaces.
● Providing 2 enclosed per unit, and 5 additional spaces unenclosed, or 69 spaces.
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Design
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Planning Commission 12/9/25
● Planning Commission recommended to
the Council regarding the proposed
project by a 5-0 vote.
● Reduce the 2 units that are abutting
Wheaton Drive to two floors, consider
including hedges along the back, and
consider additional trellising on the
fences on the back wall.
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Environmental Review
● The applicant requested that the development be
reviewed in accordance with Assembly Bill (AB) 130,
signed into law on June 30, 2025, and codified in Public Resources Code (PRC) Section 21080.66. This law exempts qualifying infill housing development from CEQA review, creating a new statutory exemption.
● The proposed project meets the criteria for statutory exemption. Accordingly, this document finds that a
Notice of Exemption is appropriate for the proposed
project pursuant to CEQA Guidelines Section 15062.
● The project will be conditioned to comply with the
Environmental Standards adopted by the City pursuant to Chapter 17.04 of the Municipal Code.
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Recommended Action
That the City Council adopt the proposed draft resolutions:
1. Find the project exempt from the California Environmental Quality Act (CEQA) and
2. Approve the following permits:
a. Development Permit (DP-2025-002)
b. Use Permit (U-2025-007)
c. Architectural & Site Approval Permit (ASA-2025-004)
d. Tentative Final Map (TM-2025-002)
e. Tree Removal Permit (TR-2025-002)
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Next Step
The City Council’s decision will be final unless
a request for reconsideration petition is filed in
compliance with CMC 2.08.096 (within 10
days of the date of the mailed notice of
Council's decision). If the project is approved,
the applicant may apply for building permits
at that time.